Noah (NYSE:NOAH) Shares Gap Up to $9.75

Noah Holdings Limited (NYSE:NOAH) shares gapped up before the market opened on Tuesday . The stock had previously closed at $9.75, but opened at $9.98. Noah shares last traded at $9.95, with a volume of 65,875 shares.

Analyst Ratings Changes

A number of equities analysts recently commented on NOAH shares. JPMorgan Chase & Co. lowered Noah from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $18.00 to $13.00 in a research note on Thursday, May 30th. StockNews.com lowered shares of Noah from a “buy” rating to a “hold” rating in a research note on Friday, May 31st.

Noah Trading Down 23.8 %

The firm’s 50-day moving average is $12.05 and its 200-day moving average is $12.03. The firm has a market cap of $519.20 million, a price-to-earnings ratio of 4.39 and a beta of 0.76.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Wednesday, May 29th. The asset manager reported $0.32 earnings per share (EPS) for the quarter. Noah had a net margin of 31.26% and a return on equity of 9.08%. The business had revenue of $89.96 million during the quarter. Analysts forecast that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

Noah Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Thursday, August 1st. Shareholders of record on Wednesday, July 3rd will be paid a dividend of $2.1249 per share. This represents a yield of 10.4%. The ex-dividend date is Wednesday, July 3rd. Noah’s dividend payout ratio (DPR) is presently 20.11%.

Hedge Funds Weigh In On Noah

Several large investors have recently bought and sold shares of NOAH. Quadrature Capital Ltd bought a new position in Noah during the 3rd quarter valued at $129,000. Russell Investments Group Ltd. lifted its stake in Noah by 34.5% during the 4th quarter. Russell Investments Group Ltd. now owns 31,011 shares of the asset manager’s stock valued at $428,000 after acquiring an additional 7,961 shares in the last quarter. Quadrant Capital Group LLC lifted its stake in Noah by 92.2% during the 4th quarter. Quadrant Capital Group LLC now owns 12,756 shares of the asset manager’s stock valued at $176,000 after acquiring an additional 6,120 shares in the last quarter. Trexquant Investment LP raised its stake in shares of Noah by 68.8% during the 4th quarter. Trexquant Investment LP now owns 28,935 shares of the asset manager’s stock worth $400,000 after purchasing an additional 11,797 shares during the period. Finally, Dodge & Cox raised its stake in shares of Noah by 15.0% during the 4th quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock worth $371,000 after purchasing an additional 3,500 shares during the period. 42.67% of the stock is currently owned by institutional investors.

Noah Company Profile

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.