Noah (NYSE:NOAH) Releases Earnings Results

Noah (NYSE:NOAH) announced its earnings results on Tuesday. The asset manager reported $0.01 EPS for the quarter, FiscalAI reports. Noah had a return on equity of 7.23% and a net margin of 25.99%.The business had revenue of $104.80 million for the quarter.

Noah Stock Down 0.3%

Noah stock traded down $0.03 during trading hours on Tuesday, hitting $11.46. The stock had a trading volume of 438,221 shares, compared to its average volume of 132,836. The business’s 50 day simple moving average is $11.66 and its 200-day simple moving average is $11.23. The stock has a market cap of $768.39 million, a price-to-earnings ratio of 8.88 and a beta of 0.73. Noah has a one year low of $7.67 and a one year high of $12.84.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on NOAH. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. UBS Group lowered 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. Zacks Research upgraded shares of Noah from a “strong sell” rating to a “hold” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a research note on Saturday, January 31st. One analyst has rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Noah presently has a consensus rating of “Hold” and a consensus target price of $10.75.

Hedge Funds Weigh In On Noah

A number of hedge funds have recently bought and sold shares of NOAH. FIL Ltd grew its holdings in shares of 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 buying an additional 424,717 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of Noah in the 2nd quarter worth about $14,128,000. Nuveen LLC lifted its position in Noah by 35.0% in the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock valued at $4,565,000 after acquiring an additional 117,971 shares in the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in Noah by 7.4% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock valued at $4,467,000 after purchasing an additional 30,691 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in Noah by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 428,178 shares of the asset manager’s stock valued at $4,301,000 after purchasing an additional 4,487 shares during the last quarter. Institutional investors own 42.67% of the company’s stock.

About Noah

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.