Noah (NYSE:NOAH) Sees Unusually-High Trading Volume – Still a Buy?

Noah Holdings Limited (NYSE:NOAH) saw strong trading volume on Friday . 89,088 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 82,712 shares.The stock last traded at $10.60 and had previously closed at $10.77.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. Morgan Stanley lowered 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, November 29th. UBS Group cut Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a report on Thursday, October 24th. Finally, StockNews.com upgraded Noah from a “hold” rating to a “buy” rating in a report on Thursday, January 16th.

Noah Price Performance

The business has a fifty day moving average of $11.35 and a 200-day moving average of $10.64. The stock has a market capitalization of $703.24 million, a price-to-earnings ratio of 9.11 and a beta of 0.78.

Noah (NYSE:NOAH) last posted its earnings results on Tuesday, November 26th. The asset manager reported $0.30 EPS for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. As a group, research analysts anticipate that Noah Holdings Limited will post 0.93 EPS for the current year.

Institutional Investors Weigh In On Noah

A number of hedge funds have recently added to or reduced their stakes in NOAH. Signaturefd LLC boosted its holdings in Noah by 2,218.7% in the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 2,374 shares during the last quarter. 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. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Noah during the third quarter worth approximately $65,000. Wolverine Trading LLC acquired a new position in Noah in the third quarter valued at approximately $196,000. Finally, Public Employees Retirement System of Ohio bought a new position in Noah in the third quarter valued at approximately $199,000. Institutional investors 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.