Noah (NYSE:NOAH) Upgraded by StockNews.com to Buy Rating

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a research note released on Tuesday morning.

Several other equities research analysts have also recently weighed in on NOAH. UBS Group cut Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a report on Thursday, October 24th. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a research note on Friday, November 29th.

Noah Trading Up 0.7 %

Noah stock opened at $10.72 on Tuesday. The firm has a market cap of $709.24 million, a P/E ratio of 9.16 and a beta of 0.79. Noah has a 1-year low of $7.14 and a 1-year high of $15.44. The firm has a 50-day moving average of $11.98 and a 200-day moving average of $10.35.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in NOAH. American Century Companies Inc. boosted its position in shares of Noah by 52.1% during the second quarter. American Century Companies Inc. now owns 89,904 shares of the asset manager’s stock valued at $868,000 after purchasing an additional 30,810 shares in the last quarter. JBF Capital Inc. bought a new stake in shares of Noah during the 2nd quarter valued at $106,000. Dimensional Fund Advisors LP boosted its holdings in shares of Noah by 50.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after buying an additional 85,771 shares in the last quarter. AQR Capital Management LLC purchased a new stake in shares of Noah in the 2nd quarter worth about $615,000. Finally, Creative Planning bought a new position in shares of Noah in the 3rd quarter worth about $206,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

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.