Noah Holdings Limited (NYSE:NOAH) Sees Significant Increase in Short Interest

Noah Holdings Limited (NYSE:NOAH) was the target of a significant increase in short interest in September. As of September 30th, there was short interest totalling 930,000 shares, an increase of 30.3% from the September 15th total of 713,700 shares. Based on an average trading volume of 253,200 shares, the short-interest ratio is presently 3.7 days.

Noah Stock Down 8.3 %

Shares of NOAH stock traded down $1.13 during trading hours on Tuesday, reaching $12.55. 564,081 shares of the stock traded hands, compared to its average volume of 209,446. The business has a fifty day moving average price of $9.49 and a 200 day moving average price of $10.52. Noah has a 1-year low of $7.14 and a 1-year high of $15.44. The firm has a market capitalization of $830.02 million, a PE ratio of 7.01 and a beta of 0.78.

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

Noah announced that its board has initiated a share repurchase program on Wednesday, August 28th that authorizes the company to repurchase $50.00 million in shares. This repurchase authorization authorizes the asset manager to repurchase up to 10.3% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Noah

Several institutional investors have recently made changes to their positions in NOAH. Headlands Technologies LLC purchased a new position in shares of Noah during the 1st quarter valued at $30,000. Public Employees Retirement Association of Colorado purchased a new stake in shares of Noah during the 1st quarter worth about $40,000. Quadrature Capital Ltd raised its position in Noah by 91.1% during the fourth quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 9,429 shares in the last quarter. JBF Capital Inc. bought a new stake in shares of Noah during the 2nd quarter worth about $106,000. Finally, Creative Planning acquired a new stake in shares of Noah in the third quarter worth $206,000. 42.67% of the stock is currently 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.