Wolverine Trading LLC Acquires New Holdings in Noah Holdings Limited (NYSE:NOAH)

Wolverine Trading LLC bought a new stake in shares of Noah Holdings Limited (NYSE:NOAH) in the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 15,896 shares of the asset manager’s stock, valued at approximately $196,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of NOAH. Signaturefd LLC increased its holdings in shares of Noah by 2,218.7% during the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after purchasing an additional 2,374 shares during the period. Blue Trust Inc. grew its position 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 in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in Noah during the 3rd quarter valued at about $65,000. JBF Capital Inc. acquired a new position in Noah during the 2nd quarter valued at about $106,000. Finally, Creative Planning bought a new stake in shares of Noah during the 3rd quarter worth about $206,000. Institutional investors own 42.67% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on NOAH. Morgan Stanley lowered shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a research note on Friday, November 29th. UBS Group lowered Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, October 24th.

Noah Price Performance

Shares of NOAH opened at $11.88 on Monday. The firm’s 50 day moving average is $12.48 and its 200-day moving average is $10.22. Noah Holdings Limited has a 12-month low of $7.14 and a 12-month high of $15.44. The stock has a market capitalization of $785.74 million, a P/E ratio of 10.15 and a beta of 0.80.

Noah declared that its board has initiated a stock buyback plan on Wednesday, August 28th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its shares are undervalued.

About Noah

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.