Noah (NYSE:NOAH) Shares Cross Above 200-Day Moving Average – Here’s What Happened

Noah Holdings Ltd. (NYSE:NOAH)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $11.23 and traded as high as $11.50. Noah shares last traded at $11.4850, with a volume of 147,327 shares trading hands.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. Zacks Research upgraded Noah from a “strong sell” rating to a “hold” rating in a report on Monday, February 23rd. UBS Group dropped their price target on Noah from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Monday, December 22nd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, Noah presently has an average rating of “Hold” and an average target price of $10.75.

Noah Trading Down 1.0%

The firm’s 50-day moving average price is $11.66 and its two-hundred day moving average price is $11.23. The stock has a market cap of $759.88 million, a PE ratio of 10.21 and a beta of 0.73.

Noah (NYSE:NOAH) last issued its quarterly earnings data on Tuesday, March 24th. The asset manager reported $0.01 EPS for the quarter. The company had revenue of $104.80 million during the quarter. Noah had a net margin of 21.29% and a return on equity of 6.17%. On average, analysts anticipate that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of Noah during the 2nd quarter worth $14,128,000. FIL Ltd boosted its position in Noah by 7.1% during the fourth quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock valued at $64,033,000 after purchasing an additional 424,717 shares in the last quarter. Nuveen LLC grew its stake in Noah by 35.0% in the fourth quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock valued at $4,565,000 after purchasing an additional 117,971 shares during the last quarter. Sei Investments Co. grew its stake in Noah by 549.8% in the third quarter. Sei Investments Co. now owns 78,178 shares of the asset manager’s stock valued at $906,000 after purchasing an additional 66,146 shares during the last quarter. Finally, Millennium Management LLC bought a new position in Noah in the third quarter worth about $582,000. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.