Noah (NYSE:NOAH) Share Price Passes Above Two Hundred Day Moving Average – Here’s What Happened

Noah Holdings Ltd. (NYSE:NOAHGet Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $11.03 and traded as high as $11.58. Noah shares last traded at $11.49, with a volume of 95,679 shares.

Analyst Upgrades and Downgrades

NOAH has been the topic of several research reports. Weiss Ratings raised Noah from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Wednesday, October 8th. Wall Street Zen lowered Noah from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, Noah currently has an average rating of “Hold” and an average target price of $12.00.

Get Our Latest Stock Analysis on Noah

Noah Price Performance

The firm has a 50-day simple moving average of $11.86 and a 200 day simple moving average of $11.03. The company has a market capitalization of $760.08 million, a PE ratio of 10.25 and a beta of 0.87.

Noah (NYSE:NOAHGet Free Report) last released its quarterly earnings data on Wednesday, August 27th. The asset manager reported $0.37 EPS for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The company had revenue of $87.87 million for the quarter, compared to analyst estimates of $86.31 million. Equities research analysts expect that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Noah Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were given a dividend of $1.1572 per share. This represents a dividend yield of 830.0%. The ex-dividend date of this dividend was Thursday, July 3rd. Noah’s payout ratio is presently 50.00%.

Institutional Trading of Noah

Hedge funds and other institutional investors have recently modified their holdings of the business. Signaturefd LLC increased its position in shares of Noah by 124.7% during the second quarter. Signaturefd LLC now owns 5,778 shares of the asset manager’s stock worth $69,000 after acquiring an additional 3,207 shares during the last quarter. Cubist Systematic Strategies LLC increased its position in shares of Noah by 307.2% during the first quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager’s stock worth $170,000 after acquiring an additional 13,564 shares during the last quarter. Everstar Asset Management LLC acquired a new position in Noah in the first quarter worth about $217,000. Invesco Ltd. grew its stake in Noah by 7.1% in the first quarter. Invesco Ltd. now owns 30,880 shares of the asset manager’s stock worth $292,000 after purchasing an additional 2,047 shares in the last quarter. Finally, Marshall Wace LLP acquired a new position in Noah in the second quarter worth about $306,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

About Noah

(Get Free Report)

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.

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