StockNews.com Upgrades Noah (NYSE:NOAH) to “Buy”

Noah (NYSE:NOAH) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a report released on Thursday.

A number of other research analysts have also recently commented on the stock. UBS Group cut shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, October 24th. Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a report on Friday, November 29th.

Noah Stock Performance

Shares of NOAH stock opened at $10.31 on Thursday. The firm has a fifty day moving average of $11.76 and a 200-day moving average of $10.36. Noah has a 52-week low of $7.14 and a 52-week high of $15.44. The stock has a market cap of $680.19 million, a price-to-earnings ratio of 8.81 and a beta of 0.79.

Hedge Funds Weigh In On Noah

Several institutional investors have recently added to or reduced their stakes in NOAH. American Century Companies Inc. grew its stake in Noah by 52.1% during the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager’s stock worth $868,000 after buying an additional 30,810 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Noah by 50.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock worth $2,472,000 after acquiring an additional 85,771 shares during the last quarter. AQR Capital Management LLC acquired a new stake in Noah during the 2nd quarter valued at $615,000. Creative Planning bought a new position in Noah in the 3rd quarter valued at $206,000. Finally, Blue Trust Inc. raised its position in Noah by 510.7% in the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 3,330 shares during the last quarter. 42.67% of the stock is owned by 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.