Noah (NYSE:NOAH) Rating Lowered to Hold at Wall Street Zen

Noah (NYSE:NOAH) was downgraded by stock analysts at Wall Street Zen from a “buy” rating to a “hold” rating in a note issued to investors on Sunday.

A number of other research firms also recently weighed in on NOAH. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a report on Monday, May 25th. Weiss Ratings raised Noah from a “hold (c-)” rating to a “hold (c)” rating in a report on Wednesday, April 29th. Finally, JPMorgan Chase & Co. decreased their price objective on Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Four analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $10.75.

Noah Trading Down 2.0%

NYSE NOAH opened at $10.24 on Friday. The stock’s 50 day moving average is $10.28 and its two-hundred day moving average is $10.80. The company has a market capitalization of $690.42 million, a price-to-earnings ratio of 9.48 and a beta of 0.80. Noah has a 1-year low of $9.53 and a 1-year high of $12.84.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NOAH. Cubist Systematic Strategies LLC boosted its holdings in shares of Noah by 307.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after acquiring an additional 13,564 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Noah by 17.9% in the 2nd quarter. Geode Capital Management LLC now owns 26,896 shares of the asset manager’s stock worth $321,000 after acquiring an additional 4,080 shares in the last quarter. American Century Companies Inc. boosted its holdings in shares of Noah by 1.5% in the 2nd quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager’s stock worth $1,666,000 after acquiring an additional 2,084 shares in the last quarter. Russell Investments Group Ltd. boosted its holdings in shares of Noah by 10.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager’s stock worth $429,000 after acquiring an additional 3,251 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in shares of Noah in the 2nd quarter worth approximately $306,000. 42.67% of the stock is 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.