Connor Clark & Lunn Investment Management Ltd. Sells 27,092 Shares of Noah Holdings Ltd. $NOAH

Connor Clark & Lunn Investment Management Ltd. lowered its holdings in Noah Holdings Ltd. (NYSE:NOAH) by 40.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,930 shares of the asset manager’s stock after selling 27,092 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.06% of Noah worth $477,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC boosted its holdings in Noah by 61.9% during the first quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager’s stock valued at $6,563,000 after purchasing an additional 266,602 shares in the last quarter. First Beijing Investment Ltd lifted its position in shares of Noah by 19.5% during the 1st quarter. First Beijing Investment Ltd now owns 163,443 shares of the asset manager’s stock worth $1,545,000 after buying an additional 26,710 shares during the period. Eschler Asset Management LLP boosted its stake in Noah by 70.8% in the 1st quarter. Eschler Asset Management LLP now owns 59,600 shares of the asset manager’s stock valued at $563,000 after buying an additional 24,700 shares in the last quarter. Hsbc Holdings PLC grew its position in Noah by 198.3% in the first quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager’s stock valued at $362,000 after acquiring an additional 25,263 shares during the period. Finally, Nuveen LLC bought a new stake in Noah in the first quarter valued at $350,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

Noah Stock Performance

Shares of NYSE:NOAH opened at $10.51 on Friday. The business has a fifty day moving average of $11.41 and a 200-day moving average of $11.47. Noah Holdings Ltd. has a twelve month low of $7.67 and a twelve month high of $13.30. The firm has a market cap of $695.20 million, a PE ratio of 9.38 and a beta of 0.88.

Noah (NYSE:NOAH) last issued its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. The business had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.31 million. Noah had a net margin of 22.17% and a return on equity of 6.44%. On average, analysts anticipate that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research note on Saturday, September 20th. Weiss Ratings reissued a “hold (c-)” rating on shares of Noah in a report on Wednesday. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, Noah presently has a consensus rating of “Hold” and a consensus target price of $12.00.

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.