Noah (NYSE:NOAH) Posts Quarterly Earnings Results

Noah (NYSE:NOAH) announced its quarterly earnings data on Tuesday. The asset manager reported $0.47 EPS for the quarter, Zacks reports. The business had revenue of $74.64 million during the quarter. Noah had a net margin of 27.50% and a return on equity of 9.41%. During the same quarter in the previous year, the firm posted $0.31 earnings per share.

Noah Stock Down 2.1 %

Noah stock opened at $10.12 on Wednesday. Noah has a 52-week low of $9.90 and a 52-week high of $17.77. The firm has a market capitalization of $663.97 million, a price-to-earnings ratio of 5.35 and a beta of 1.00. The company has a fifty day simple moving average of $11.44 and a 200-day simple moving average of $12.22.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its position in Noah by 1,597.5% in the second quarter. JPMorgan Chase & Co. now owns 3,361 shares of the asset manager’s stock valued at $47,000 after purchasing an additional 3,163 shares during the period. Quantbot Technologies LP raised its holdings in shares of Noah by 391.7% in the first quarter. Quantbot Technologies LP now owns 5,900 shares of the asset manager’s stock valued at $138,000 after buying an additional 4,700 shares during the last quarter. Ethic Inc. acquired a new stake in shares of Noah during the first quarter worth about $240,000. Creative Planning purchased a new stake in shares of Noah during the fourth quarter worth approximately $168,000. Finally, ExodusPoint Capital Management LP acquired a new position in Noah during the 2nd quarter worth approximately $251,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut shares of Noah from a “strong-buy” rating to a “buy” rating in a research note on Monday, March 18th.

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 Businesses.