Connor Clark & Lunn Investment Management Ltd. Has $279,000 Stock Position in Noah Holdings Limited (NYSE:NOAH)

Connor Clark & Lunn Investment Management Ltd. lowered its position in Noah Holdings Limited (NYSE:NOAH) by 76.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,638 shares of the asset manager’s stock after selling 71,750 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Noah were worth $279,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NOAH. Signaturefd LLC increased its stake in shares of Noah by 2,218.7% in the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock worth $31,000 after purchasing an additional 2,374 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Noah during the 1st quarter valued at approximately $40,000. Blue Trust Inc. grew its holdings in Noah by 510.7% in the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after buying an additional 3,330 shares during the last quarter. JBF Capital Inc. bought a new position in Noah in the 2nd quarter worth approximately $106,000. Finally, Creative Planning acquired a new position in shares of Noah during the third quarter worth approximately $206,000. 42.67% of the stock is owned by institutional investors and hedge funds.

Noah Stock Performance

NOAH opened at $13.12 on Monday. The company has a fifty day moving average price of $12.33 and a two-hundred day moving average price of $10.37. The firm has a market capitalization of $867.76 million, a PE ratio of 11.21 and a beta of 0.78. Noah Holdings Limited has a 52 week low of $7.14 and a 52 week high of $15.44.

Noah announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to repurchase up to 10.3% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

NOAH has been the topic of several research reports. UBS Group downgraded shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective on the stock. in a report on Thursday, October 24th. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research report on Friday.

Noah Company Profile

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.