BidaskClub Downgrades Noah Holdings Ltd. (NOAH) to Buy

Noah Holdings Ltd. (NYSE:NOAH) was downgraded by stock analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report issued on Friday, September 1st.

A number of other analysts also recently commented on NOAH. ValuEngine downgraded Noah Holdings from a “buy” rating to a “hold” rating in a research note on Friday, June 2nd. Zacks Investment Research downgraded Noah Holdings from a “buy” rating to a “hold” rating in a research report on Saturday, June 10th.

Shares of Noah Holdings (NOAH) traded down 0.34% during midday trading on Friday, hitting $28.90. The stock had a trading volume of 342,860 shares. Noah Holdings has a 12 month low of $21.33 and a 12 month high of $33.05. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 16.25 and a beta of 2.37. The stock’s 50 day moving average price is $30.14 and its 200 day moving average price is $28.20.

Noah Holdings announced that its board has initiated a stock repurchase program on Thursday, June 29th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to buy shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its shares are undervalued.

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A number of large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its holdings in Noah Holdings by 17.1% in the second quarter. The Manufacturers Life Insurance Company now owns 89,000 shares of the asset manager’s stock valued at $2,550,000 after purchasing an additional 13,000 shares during the period. Arrowstreet Capital Limited Partnership acquired a new stake in Noah Holdings in the second quarter valued at $2,357,000. State Street Corp raised its stake in Noah Holdings by 5.0% in the second quarter. State Street Corp now owns 120,610 shares of the asset manager’s stock valued at $3,455,000 after buying an additional 5,772 shares in the last quarter. Janus Henderson Group PLC acquired a new stake in Noah Holdings in the second quarter valued at $7,059,000. Finally, Yiheng Capital LLC raised its stake in Noah Holdings by 25.0% in the second quarter. Yiheng Capital LLC now owns 1,636,402 shares of the asset manager’s stock valued at $46,883,000 after buying an additional 327,449 shares in the last quarter. Hedge funds and other institutional investors own 41.56% of the company’s stock.

Noah Holdings Company Profile

Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.

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