Noah (NYSE:NOAH) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Noah (NYSE:NOAH) from a buy rating to a hold rating in a research report report published on Thursday.

A number of other research firms have also recently commented on NOAH. JPMorgan Chase & Co. restated a “neutral” rating and issued a $12.00 price objective (up from $10.50) on shares of Noah in a research report on Wednesday, March 5th. Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price for the company. in a report on Friday, November 29th.

Noah Trading Down 4.4 %

Shares of NOAH stock opened at $11.09 on Thursday. Noah has a twelve month low of $7.14 and a twelve month high of $15.44. The stock has a 50 day moving average of $11.01 and a 200 day moving average of $11.36. The stock has a market cap of $731.78 million, a P/E ratio of 9.48 and a beta of 0.71.

Hedge Funds Weigh In On Noah

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Tower Research Capital LLC TRC boosted its position in shares of Noah by 1,188.6% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock valued at $28,000 after acquiring an additional 2,187 shares during the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Noah in the 4th quarter valued at approximately $39,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Noah during the 4th quarter valued at approximately $52,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Noah in the third quarter valued at approximately $65,000. Finally, BNP Paribas Financial Markets acquired a new stake in Noah during the fourth quarter worth $72,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

About Noah

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.