Noah (NYSE:NOAH) Upgraded to “Buy” at StockNews.com

Noah (NYSE:NOAH) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Thursday.

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

Noah Price Performance

NOAH opened at $10.31 on Thursday. The company’s 50 day simple moving average is $11.76 and its 200-day simple moving average is $10.36. Noah has a one year low of $7.14 and a one year high of $15.44. The stock has a market capitalization of $680.19 million, a P/E ratio of 8.81 and a beta of 0.79.

Institutional Trading of Noah

Institutional investors have recently bought and sold shares of the business. American Century Companies Inc. lifted its stake in shares of Noah by 52.1% in the 2nd 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 during the period. Dimensional Fund Advisors LP increased its holdings in Noah by 50.5% in the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after purchasing an additional 85,771 shares during the last quarter. AQR Capital Management LLC acquired a new position in Noah in the second quarter valued at about $615,000. Creative Planning bought a new position in Noah during the third quarter worth about $206,000. Finally, Blue Trust Inc. grew its position in shares of Noah by 510.7% during the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock worth $49,000 after buying an additional 3,330 shares during the period. Institutional investors and hedge funds own 42.67% of the company’s stock.

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.