Noah (NYSE:NOAH) Downgraded by StockNews.com to “Hold”

StockNews.com cut shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research report report published on Thursday.

Several other brokerages have also recently issued reports on NOAH. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $12.00 target price (up previously from $10.50) on shares of Noah in a research report on Wednesday, March 5th. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a research report on Friday, November 29th.

Noah Stock Performance

Shares of NOAH opened at $11.09 on Thursday. The company has a 50 day moving average price of $11.01 and a 200-day moving average price of $11.36. Noah has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The stock has a market capitalization of $731.78 million, a PE ratio of 9.48 and a beta of 0.71.

Hedge Funds Weigh In On Noah

Institutional investors and hedge funds have recently bought and sold shares of the company. Tower Research Capital LLC TRC raised its stake in Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock valued at $28,000 after buying an additional 2,187 shares during the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of Noah by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after acquiring an additional 2,930 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new position in shares of Noah in the 4th quarter valued at approximately $39,000. Barclays PLC boosted its stake in Noah by 14.0% in the 4th quarter. Barclays PLC now owns 28,660 shares of the asset manager’s stock worth $335,000 after purchasing an additional 3,524 shares in the last quarter. Finally, Ballentine Partners LLC grew its position in Noah by 16.7% during the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock worth $323,000 after purchasing an additional 3,948 shares during the last quarter. 42.67% of the stock is owned by hedge funds and other institutional investors.

About Noah

Noah Holdings Limited, together with its subsidiaries, operates as a wealth and asset management service provider with the focus on investment and asset allocation services for high net worth individuals and enterprises in Mainland of China, Hong Kong, and internationally. It operates through three segments: Wealth Management, Asset Management, and Other Services.