Noah (NYSE:NOAH) Stock Passes Above 200 Day Moving Average – Here’s Why

Noah Holdings Ltd. (NYSE:NOAH) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.29 and traded as high as $12.16. Noah shares last traded at $12.1350, with a volume of 112,384 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on NOAH. UBS Group lowered their price target on shares of Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Monday, December 22nd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Noah in a research report on Monday, December 29th. Wall Street Zen lowered shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Finally, Zacks Research cut shares of Noah from a “hold” rating to a “strong sell” rating in a research note on Friday, January 2nd. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $10.75.

Noah Stock Up 1.1%

The company’s fifty day moving average price is $10.97 and its two-hundred day moving average price is $11.29. The company has a market cap of $813.65 million, a price-to-earnings ratio of 9.41 and a beta of 0.73.

Noah (NYSE:NOAH) last released its quarterly earnings results on Tuesday, November 25th. The asset manager reported $0.46 EPS for the quarter. Noah had a return on equity of 7.23% and a net margin of 25.99%.The business had revenue of $88.90 million for the quarter, compared to analyst estimates of $92.22 million. Research analysts forecast that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Institutional Trading of Noah

Several hedge funds have recently modified their holdings of the stock. FIL Ltd raised its position in Noah by 7.1% in the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock worth $64,033,000 after purchasing an additional 424,717 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Noah in the 2nd quarter valued at $14,128,000. Nuveen LLC raised its position in shares of Noah by 35.0% during the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after acquiring an additional 117,971 shares during the last quarter. Prescott Group Capital Management L.L.C. lifted its stake in shares of Noah by 7.4% during the fourth quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock valued at $4,467,000 after acquiring an additional 30,691 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Noah by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 428,178 shares of the asset manager’s stock valued at $4,301,000 after acquiring an additional 4,487 shares during the period. 42.67% of the stock is owned by institutional investors.

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.