Noah Holdings Limited (NYSE:NOAH) Shares Sold by Acadian Asset Management LLC

Acadian Asset Management LLC lowered its position in Noah Holdings Limited (NYSE:NOAH) by 94.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,960 shares of the asset manager’s stock after selling 51,618 shares during the period. Acadian Asset Management LLC’s holdings in Noah were worth $28,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in NOAH. Headlands Technologies LLC acquired a new stake in shares of Noah in the 1st quarter valued at approximately $30,000. Public Employees Retirement Association of Colorado purchased a new position in Noah in the first quarter worth $40,000. Quadrature Capital Ltd lifted its holdings in Noah by 91.1% in the fourth quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 9,429 shares during the period. Dodge & Cox boosted its position 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 in the last quarter. Finally, Trexquant Investment LP grew 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. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Analyst Ratings Changes

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

Noah Stock Performance

Noah stock opened at $8.86 on Friday. The firm has a market capitalization of $585.97 million, a price-to-earnings ratio of 4.95 and a beta of 0.76. Noah Holdings Limited has a fifty-two week low of $7.14 and a fifty-two week high of $15.44. The stock’s fifty day moving average is $8.00 and its two-hundred day moving average is $10.34.

Noah (NYSE:NOAH) last issued its quarterly earnings data on Wednesday, August 28th. The asset manager reported $0.21 EPS for the quarter. The firm had revenue of $84.74 million for the quarter. Noah had a net margin of 26.81% and a return on equity of 7.15%. As a group, sell-side analysts forecast that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

Noah declared that its board has authorized a share buyback program on Wednesday, August 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.

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.