Noah (NYSE:NOAH) Trading Up 4.2% – Still a Buy?

Noah Holdings Limited (NYSE:NOAH) shares rose 4.2% during mid-day trading on Tuesday . The stock traded as high as $13.26 and last traded at $13.26. Approximately 44,612 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 207,419 shares. The stock had previously closed at $12.73.

Noah Stock Up 3.4 %

The stock has a market cap of $870.36 million, a price-to-earnings ratio of 7.11 and a beta of 0.78. The stock has a fifty day moving average of $9.99 and a two-hundred day moving average of $10.52.

Noah (NYSE:NOAH) last posted its earnings results on Wednesday, August 28th. The asset manager reported $0.21 earnings per share for the quarter. Noah had a net margin of 26.81% and a return on equity of 7.15%. The business had revenue of $84.74 million for the quarter. Equities research analysts anticipate that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

Noah declared that its Board of Directors has approved a share repurchase plan on Wednesday, August 28th that allows the company to repurchase $50.00 million in shares. This repurchase authorization allows the asset manager to reacquire up to 10.3% of its shares through open market purchases. Shares repurchase plans are usually a sign that the company’s board believes its stock is undervalued.

Institutional Trading of Noah

Institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC increased its holdings in shares of Noah by 2,218.7% in the 3rd quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock valued at $31,000 after acquiring an additional 2,374 shares during the last quarter. Blue Trust Inc. increased its stake in Noah by 510.7% during the third quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after purchasing an additional 3,330 shares during the last quarter. Creative Planning acquired a new stake in shares of Noah during the third quarter worth $206,000. AQR Capital Management LLC acquired a new position in shares of Noah in the 2nd quarter valued at about $615,000. Finally, Dimensional Fund Advisors LP grew its position in shares of Noah by 50.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock valued at $2,472,000 after buying an additional 85,771 shares during the last quarter. 42.67% of the stock is owned by institutional investors and hedge funds.

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 Services.