Noah (NYSE:NOAH) Trading Down 6.6% – Should You Sell?

Noah Holdings Limited (NYSE:NOAH)’s stock price traded down 6.6% on Tuesday . The company traded as low as $12.56 and last traded at $12.78. 158,362 shares changed hands during mid-day trading, a decline of 24% from the average session volume of 207,400 shares. The stock had previously closed at $13.68.

Noah Price Performance

The firm has a market capitalization of $800.92 million, a P/E ratio of 6.77 and a beta of 0.78. The firm’s fifty day moving average price is $9.69 and its 200-day moving average price is $10.54.

Noah (NYSE:NOAH) last issued its quarterly earnings results on Wednesday, August 28th. The asset manager reported $0.21 earnings per share (EPS) for the quarter. Noah had a return on equity of 7.15% and a net margin of 26.81%. The firm had revenue of $84.74 million during the quarter. Analysts expect that Noah Holdings Limited will post 1.37 earnings per share for the current year.

Noah declared that its board has authorized a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to buy up to 10.3% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Headlands Technologies LLC purchased a new stake in shares of Noah in the first quarter valued at $30,000. Public Employees Retirement Association of Colorado acquired a new stake in Noah during the 1st quarter worth about $40,000. JBF Capital Inc. acquired a new position in shares of Noah in the 2nd quarter valued at about $106,000. Creative Planning acquired a new stake in shares of Noah during the third quarter worth approximately $206,000. Finally, Quadrature Capital Ltd boosted its stake in shares of Noah by 91.1% during the 4th quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock valued at $273,000 after buying an additional 9,429 shares during the period. 42.67% of the stock is owned by institutional investors and hedge funds.

About Noah

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.