Noah (NYSE:NOAH) Stock Price Down 3%

Noah Holdings Limited (NYSE:NOAH) shares dropped 3% on Thursday . The stock traded as low as $11.35 and last traded at $11.51. Approximately 67,095 shares changed hands during mid-day trading, a decline of 50% from the average daily volume of 133,146 shares. The stock had previously closed at $11.86.

Analyst Upgrades and Downgrades

Separately, StockNews.com downgraded shares of Noah from a “strong-buy” rating to a “buy” rating in a research report on Monday, March 18th.

Noah Stock Down 3.6 %

The company has a market capitalization of $749.92 million, a PE ratio of 5.81 and a beta of 1.00. The company’s 50 day moving average is $11.41 and its two-hundred day moving average is $12.19.

Noah (NYSE:NOAH) last posted its earnings results on Tuesday, March 26th. The asset manager reported $0.47 earnings per share for the quarter. The company had revenue of $74.64 million during the quarter. Noah had a net margin of 33.36% and a return on equity of 10.16%. During the same period in the previous year, the business posted $0.31 earnings per share. Analysts forecast that Noah Holdings Limited will post 2.54 EPS for the current year.

Institutional Investors Weigh In On Noah

Several institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in Noah by 1,597.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 3,361 shares of the asset manager’s stock valued at $47,000 after buying an additional 3,163 shares in the last quarter. Caxton Associates LP purchased a new position in Noah during the 3rd quarter valued at about $129,000. Quadrature Capital Ltd purchased a new position in shares of Noah in the 3rd quarter worth approximately $129,000. Quantbot Technologies LP grew its position in shares of Noah by 391.7% in the 1st quarter. Quantbot Technologies LP now owns 5,900 shares of the asset manager’s stock worth $138,000 after buying an additional 4,700 shares during the last quarter. Finally, Creative Planning purchased a new position in shares of Noah in the 4th quarter worth approximately $168,000. Institutional investors 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 Businesses.