Noah Holdings Ltd. (NYSE:NOAH) was downgraded by stock analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Thursday.

Several other equities research analysts have also recently issued reports on NOAH. ValuEngine cut Noah Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research cut Noah Holdings from a “buy” rating to a “hold” rating in a research note on Saturday, June 10th.

Noah Holdings (NYSE:NOAH) traded up 3.15% during trading on Thursday, hitting $29.12. The stock had a trading volume of 81,318 shares. The company has a market cap of $1.64 billion, a PE ratio of 16.38 and a beta of 2.37. Noah Holdings has a 12 month low of $21.33 and a 12 month high of $33.05. The company’s 50 day moving average is $30.43 and its 200-day moving average is $28.17.

Noah Holdings announced that its board has initiated a stock repurchase program on Thursday, June 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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A number of hedge funds have recently bought and sold shares of NOAH. Russell Investments Group Ltd. acquired a new stake in Noah Holdings during the second quarter worth $158,000. Neuberger Berman Group LLC acquired a new stake in shares of Noah Holdings in the first quarter valued at $200,000. Aperio Group LLC acquired a new stake in shares of Noah Holdings in the second quarter valued at $239,000. Airain ltd acquired a new stake in shares of Noah Holdings in the second quarter valued at $245,000. Finally, Hershey Trust Co. acquired a new stake in shares of Noah Holdings in the second quarter valued at $300,000. 41.56% of the stock is owned by institutional investors.

Noah Holdings Company Profile

Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.

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