Noah (NYSE:NOAH) Cut to Hold at StockNews.com

Noah (NYSE:NOAH) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Sunday.

Separately, Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research note on Friday, November 29th.

Noah Stock Down 3.0 %

Shares of NOAH stock opened at $11.32 on Friday. The stock has a market cap of $746.96 million, a price-to-earnings ratio of 9.68 and a beta of 0.78. The business’s fifty day moving average is $11.10 and its 200 day moving average is $11.08. Noah has a twelve month low of $7.14 and a twelve month high of $15.44.

Institutional Investors Weigh In On Noah

Hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its holdings 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 worth $28,000 after acquiring an additional 2,187 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new stake in Noah in the fourth quarter worth $39,000. Cubist Systematic Strategies LLC bought a new stake in Noah in the fourth quarter worth $52,000. Point72 Asia Singapore Pte. Ltd. bought a new stake in Noah in the third quarter worth $65,000. Finally, BNP Paribas Financial Markets bought a new stake in Noah in the fourth quarter worth $72,000. 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.