Noah (NYSE:NOAH) Sees Strong Trading Volume

Noah Holdings Limited (NYSE:NOAH) saw unusually-high trading volume on Monday . Approximately 232,763 shares were traded during trading, an increase of 19% from the previous session’s volume of 195,758 shares.The stock last traded at $12.88 and had previously closed at $11.06.

Noah Price Performance

The firm’s 50-day simple moving average is $8.26 and its two-hundred day simple moving average is $10.31. The company has a market capitalization of $820.10 million, a price-to-earnings ratio of 6.98 and a beta of 0.76.

Noah (NYSE:NOAH) last announced its quarterly earnings data on Wednesday, August 28th. The asset manager reported $0.21 earnings per share (EPS) for the quarter. The business 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%. On average, analysts expect that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

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

Hedge Funds Weigh In On Noah

A number of institutional investors have recently added to or reduced their stakes in NOAH. Davis Selected Advisers boosted its stake in Noah by 121.7% during the 2nd quarter. Davis Selected Advisers now owns 1,681,650 shares of the asset manager’s stock valued at $16,228,000 after acquiring an additional 923,122 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock worth $2,472,000 after purchasing an additional 85,771 shares in the last quarter. American Century Companies Inc. lifted its holdings in Noah by 52.1% during the 2nd 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. AQR Capital Management LLC bought a new position in shares of Noah in the 2nd quarter worth about $615,000. Finally, SG Americas Securities LLC acquired a new position in Noah in the second quarter valued at approximately $510,000. 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.