Noah (NYSE:NOAH) Raised to Buy at StockNews.com

Noah (NYSE:NOAH) was upgraded by StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other equities analysts also recently issued research reports about the stock. JPMorgan Chase & Co. restated a “neutral” rating and issued a $12.00 price objective (up previously from $10.50) on shares of Noah in a research note on Wednesday, March 5th. Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a research note on Friday, November 29th.

Noah Price Performance

NYSE:NOAH opened at $10.64 on Wednesday. The firm has a market capitalization of $701.96 million, a PE ratio of 9.09 and a beta of 0.71. The business’s fifty day moving average price is $10.96 and its 200 day moving average price is $11.25. Noah has a 12 month low of $7.14 and a 12 month high of $15.44.

Institutional Trading of Noah

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

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.