Noah (NYSE:NOAH) Upgraded to Hold at Zacks Research

Zacks Research upgraded shares of Noah (NYSE:NOAH) from a strong sell rating to a hold rating in a research report report published on Monday,Zacks.com reports.

Several other equities research analysts also recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of Noah from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $14.70 to $12.00 in a research note on Thursday, March 26th. Weiss Ratings raised shares of Noah from a “hold (c-)” rating to a “hold (c)” rating in a research note on Wednesday, April 29th. Finally, Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, January 31st. Four investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $11.00.

Noah Stock Down 0.3%

Shares of NOAH opened at $9.98 on Monday. Noah has a fifty-two week low of $9.31 and a fifty-two week high of $12.84. The firm’s 50 day moving average price is $10.45 and its 200 day moving average price is $10.83. The company has a market cap of $673.15 million, a P/E ratio of 8.99 and a beta of 0.80.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC lifted its stake in shares of Noah by 132.4% in the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager’s stock worth $945,000 after acquiring an additional 54,400 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Noah by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager’s stock valued at $4,641,000 after purchasing an additional 40,332 shares during the period. IMC Chicago LLC acquired a new stake in shares of Noah in the first quarter valued at about $100,000. Kestra Private Wealth Services LLC acquired a new stake in shares of Noah in the first quarter valued at about $103,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Noah in the first quarter valued at about $116,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.