BidaskClub upgraded shares of Noah Holdings Ltd. (NYSE:NOAH) from a hold rating to a buy rating in a research report report published on Friday morning.

NOAH has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Noah Holdings from a hold rating to a sell rating in a research note on Wednesday, July 5th. ValuEngine downgraded shares of Noah Holdings from a buy rating to a hold rating in a research note on Friday, June 2nd.

Noah Holdings (NOAH) traded down 1.15% during trading on Friday, hitting $30.03. 238,694 shares of the stock traded hands. Noah Holdings has a 12 month low of $21.33 and a 12 month high of $33.05. The firm has a market cap of $1.70 billion, a PE ratio of 16.69 and a beta of 2.37. The firm has a 50-day moving average price of $29.96 and a 200 day moving average price of $28.23.

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Noah Holdings declared that its board has initiated a share buyback plan on Thursday, June 29th that allows the company to buyback $50.00 million in outstanding shares. This buyback authorization allows the asset manager to purchase shares of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board believes its shares are undervalued.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NOAH. Ward Ferry Management BVI Ltd boosted its stake in shares of Noah Holdings by 65.0% during the first quarter. Ward Ferry Management BVI Ltd now owns 2,734,100 shares of the asset manager’s stock valued at $69,391,000 after purchasing an additional 1,077,200 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Noah Holdings by 223,587.6% during the second quarter. JPMorgan Chase & Co. now owns 738,169 shares of the asset manager’s stock valued at $21,150,000 after purchasing an additional 737,839 shares in the last quarter. Yiheng Capital LLC boosted its stake in shares of Noah Holdings by 25.0% during the second quarter. Yiheng Capital LLC now owns 1,636,402 shares of the asset manager’s stock valued at $46,883,000 after purchasing an additional 327,449 shares in the last quarter. Janus Henderson Group PLC bought a new position in shares of Noah Holdings during the second quarter valued at approximately $7,059,000. Finally, Goldman Sachs Group Inc. boosted its stake in shares of Noah Holdings by 61.6% during the first quarter. Goldman Sachs Group Inc. now owns 511,260 shares of the asset manager’s stock valued at $12,976,000 after purchasing an additional 194,859 shares in the last quarter. Hedge funds and other institutional investors own 41.46% of the company’s stock.

Noah Holdings Company Profile

Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.

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