Noah (NYSE:NOAH) Shares Down 3.2% – Should You Sell?

Shares of Noah Holdings Limited (NYSE:NOAH) were down 3.2% during mid-day trading on Thursday . The company traded as low as $11.33 and last traded at $11.33. Approximately 12,179 shares traded hands during mid-day trading, a decline of 94% from the average daily volume of 194,511 shares. The stock had previously closed at $11.71.

Analysts Set New Price Targets

NOAH has been the topic of a number of research analyst reports. UBS Group lowered Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research note on Thursday, October 24th. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective for the company. in a report on Friday, November 29th.

Noah Stock Down 1.6 %

The firm’s 50-day moving average is $12.07 and its 200-day moving average is $10.35. The company has a market capitalization of $729.74 million, a PE ratio of 9.43 and a beta of 0.79.

Hedge Funds Weigh In On Noah

Large investors have recently modified their holdings of the company. Signaturefd LLC boosted its stake in Noah by 2,218.7% in the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock worth $31,000 after buying an additional 2,374 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Noah by 510.7% in the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock worth $49,000 after acquiring an additional 3,330 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in Noah in the 3rd quarter worth $65,000. JBF Capital Inc. bought a new stake in Noah in the second quarter worth $106,000. Finally, Wolverine Trading LLC bought a new stake in Noah in the third quarter worth $196,000. 42.67% of the stock is owned by hedge funds and other 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.