StockNews.com Upgrades Noah (NYSE:NOAH) to “Buy”

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning.

NOAH has been the subject of a number of other reports. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $12.00 target price (up from $10.50) on shares of Noah in a research report on Wednesday, March 5th. Morgan Stanley downgraded Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a research report on Friday, November 29th.

Noah Price Performance

NYSE:NOAH opened at $10.70 on Wednesday. The business has a fifty day simple moving average of $10.97 and a two-hundred day simple moving average of $11.25. Noah has a 1 year low of $7.14 and a 1 year high of $15.44. The company has a market capitalization of $705.59 million, a P/E ratio of 9.14 and a beta of 0.71.

Hedge Funds Weigh In On Noah

A number of large investors have recently made changes to their positions in NOAH. FMR LLC bought a new position in shares of Noah in the third quarter worth $8,895,000. FIL Ltd boosted its stake in Noah by 11.3% during the fourth quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock valued at $49,894,000 after buying an additional 432,599 shares during the period. Franklin Resources Inc. boosted its stake in Noah by 9.4% during the fourth quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager’s stock valued at $22,897,000 after buying an additional 168,733 shares during the period. Bank of America Corp DE boosted its stake in Noah by 1,066.6% during the fourth quarter. Bank of America Corp DE now owns 83,902 shares of the asset manager’s stock valued at $982,000 after buying an additional 76,710 shares during the period. Finally, Trexquant Investment LP boosted its stake in Noah by 170.7% during the fourth quarter. Trexquant Investment LP now owns 91,071 shares of the asset manager’s stock valued at $1,066,000 after buying an additional 57,425 shares during the period. 42.67% of the stock is owned by institutional investors.

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.