Noah (NYSE:NOAH) Downgraded to “Hold” at StockNews.com

StockNews.com downgraded shares of Noah (NYSE:NOAHGet Rating) from a buy rating to a hold rating in a report published on Monday.

Other equities research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Noah from a strong sell rating to a hold rating and set a $30.00 price target on the stock in a report on Saturday, March 19th. Bank of America cut their price target on shares of Noah from $51.50 to $35.00 and set a buy rating on the stock in a report on Wednesday, March 16th. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Noah currently has a consensus rating of Buy and a consensus target price of $45.81.

NOAH stock opened at $18.30 on Monday. Noah has a 52-week low of $17.05 and a 52-week high of $49.88. The company’s 50 day moving average price is $23.45. The firm has a market capitalization of $1.10 billion, a price-to-earnings ratio of 6.08, a P/E/G ratio of 0.40 and a beta of 1.25.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. FIL Ltd grew its position in Noah by 0.8% during the third quarter. FIL Ltd now owns 4,551,130 shares of the asset manager’s stock valued at $168,983,000 after purchasing an additional 33,938 shares in the last quarter. Tiger Pacific Capital LP grew its position in Noah by 7.4% in the third quarter. Tiger Pacific Capital LP now owns 2,842,515 shares of the asset manager’s stock worth $105,543,000 after acquiring an additional 194,674 shares in the last quarter. BlackRock Inc. grew its position in Noah by 2.4% in the third quarter. BlackRock Inc. now owns 1,814,760 shares of the asset manager’s stock worth $67,383,000 after acquiring an additional 41,827 shares in the last quarter. Platinum Investment Management Ltd. grew its position in Noah by 28.7% in the third quarter. Platinum Investment Management Ltd. now owns 1,764,939 shares of the asset manager’s stock worth $65,532,000 after acquiring an additional 393,150 shares in the last quarter. Finally, Franklin Resources Inc. grew its position in Noah by 24.8% in the third quarter. Franklin Resources Inc. now owns 616,787 shares of the asset manager’s stock worth $22,901,000 after acquiring an additional 122,475 shares in the last quarter. 64.19% of the stock is currently owned by hedge funds and other institutional investors.

Noah Company Profile (Get Rating)

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. The company operates through three segments: Wealth Management, Asset Management, and Other Businesses.

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