Noah (NYSE:NOAH) Cut to Strong Sell at Zacks Research

Zacks Research lowered shares of Noah (NYSE:NOAH) from a hold rating to a strong sell rating in a research note released on Tuesday morning,Zacks.com reports.

Several other equities research analysts have also recently weighed in on the stock. UBS Group decreased their price objective on shares of Noah from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. Wall Street Zen cut shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. JPMorgan Chase & Co. cut shares of Noah from an “overweight” rating to a “neutral” rating and decreased their price objective for the stock from $14.70 to $12.00 in a research report on Thursday, March 26th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Noah in a research report on Monday, December 29th. Three research analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $11.00.

Noah Stock Performance

NOAH stock opened at $9.97 on Tuesday. The company has a fifty day moving average price of $11.35 and a 200-day moving average price of $11.09. The company has a market capitalization of $668.56 million, a P/E ratio of 8.98 and a beta of 0.79. Noah has a 52-week low of $8.10 and a 52-week high of $12.84.

Institutional Investors Weigh In On Noah

A number of large investors have recently bought and sold shares of NOAH. Cubist Systematic Strategies LLC grew its holdings in Noah by 307.2% in the first quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after purchasing an additional 13,564 shares during the period. Geode Capital Management LLC grew its holdings in Noah by 17.9% in the second quarter. Geode Capital Management LLC now owns 26,896 shares of the asset manager’s stock worth $321,000 after purchasing an additional 4,080 shares during the period. American Century Companies Inc. grew its holdings in Noah by 1.5% in the second quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock worth $1,666,000 after purchasing an additional 2,084 shares during the period. Russell Investments Group Ltd. grew its holdings in Noah by 10.0% in the second quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock worth $429,000 after purchasing an additional 3,251 shares during the period. Finally, Marshall Wace LLP acquired a new stake in Noah in the second quarter worth $306,000. 42.67% of the stock is currently owned by institutional investors and hedge funds.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.