Prescott Group Capital Management L.L.C. raised its stake in Noah Holdings Ltd. (NYSE:NOAH – Free Report) by 33.3% during the third quarter, HoldingsChannel.com reports. The fund owned 593,115 shares of the asset manager’s stock after purchasing an additional 148,148 shares during the quarter. Prescott Group Capital Management L.L.C.’s holdings in Noah were worth $4,692,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of the company. Dimensional Fund Advisors LP lifted its stake in shares of Noah by 9.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock worth $4,641,000 after acquiring an additional 40,332 shares during the last quarter. State Street Corp lifted its position in shares of Noah by 2.9% during the second quarter. State Street Corp now owns 322,218 shares of the asset manager’s stock worth $3,219,000 after purchasing an additional 8,948 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Noah by 132.4% during the first quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock worth $945,000 after purchasing an additional 54,400 shares during the last quarter. Hsbc Holdings PLC lifted its position in shares of Noah by 47.7% during the fourth quarter. Hsbc Holdings PLC now owns 71,912 shares of the asset manager’s stock worth $725,000 after purchasing an additional 23,217 shares during the last quarter. Finally, Ramsey Quantitative Systems boosted its stake in shares of Noah by 61.9% during the third quarter. Ramsey Quantitative Systems now owns 17,000 shares of the asset manager’s stock valued at $134,000 after purchasing an additional 6,500 shares during the period. Institutional investors own 42.67% of the company’s stock.
Noah Trading Down 2.5%
NYSE NOAH opened at $6.76 on Wednesday. The firm’s fifty day simple moving average is $7.75 and its two-hundred day simple moving average is $9.71. Noah Holdings Ltd. has a 12-month low of $6.57 and a 12-month high of $12.44. The firm has a market capitalization of $461.91 million, a P/E ratio of 5.33 and a beta of 0.79.
Noah (NYSE:NOAH – Get Free Report) last issued its quarterly earnings results on Friday, August 14th. The asset manager reported $0.51 earnings per share (EPS) for the quarter. The business had revenue of $91.24 million for the quarter. Noah had a net margin of 22.57% and a return on equity of 6.37%. As a group, sell-side analysts predict that Noah Holdings Ltd. will post 1.37 earnings per share for the current fiscal year.
Wall Street Analyst Weigh In
Several brokerages recently issued reports on NOAH. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a research note on Saturday, August 8th. Weiss Ratings lowered Noah from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Wednesday, October 21st. Finally, JPMorgan Chase & Co. lowered their target price on Noah from $10.50 to $9.70 and set a “neutral” rating for the company in a report on Monday, September 21st. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Noah presently has a consensus rating of “Reduce” and a consensus target price of $9.85.
Check Out Our Latest Report on Noah
Noah Company Profile
Noah Holdings Limited is a Chinese wealth management services provider headquartered in Shanghai. The company offers wealth management, asset management and related financial services to high-net-worth individuals, families, entrepreneurs and corporate clients.
Through its wealth management business, Noah provides investment advisory and asset-allocation services, along with access to a range of financial products and solutions. Its asset management operations, historically conducted through Gopher Asset Management, have included private equity, credit, public securities, real estate and other alternative investments.
Founded in 2003, Noah expanded its services through a network of offices and has served clients in mainland China as well as selected international markets.
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