Noah (NYSE:NOAH) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a report released on Tuesday.

Several other research analysts have also recently issued reports on the stock. UBS Group cut shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price for the company. in a report on Thursday, October 24th. Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target for the company. in a research report on Friday, November 29th.

Noah Trading Up 0.7 %

NYSE NOAH opened at $10.72 on Tuesday. The stock’s fifty day moving average price is $11.98 and its 200-day moving average price is $10.35. The stock has a market cap of $709.24 million, a P/E ratio of 9.16 and a beta of 0.79. Noah has a 12 month low of $7.14 and a 12 month high of $15.44.

Hedge Funds Weigh In On Noah

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Franklin Resources Inc. raised its holdings in shares of Noah by 10.4% during the third quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock valued at $24,441,000 after purchasing an additional 167,685 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Noah during the 3rd quarter valued at $199,000. Wolverine Trading LLC bought a new position in shares of Noah during the 3rd quarter valued at $196,000. Point72 Asset Management L.P. purchased a new position in shares of Noah in the 3rd quarter worth $566,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of Noah in the third quarter worth $65,000. Institutional investors own 42.67% of the company’s stock.

Noah Company Profile

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.