Millennium Management LLC Reduces Holdings in Noah Holdings Limited (NYSE:NOAH)

Millennium Management LLC reduced its stake in shares of Noah Holdings Limited (NYSE:NOAH - Free Report) by 75.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,309 shares of the asset manager's stock after selling 157,614 shares during the quarter. Millennium Management LLC owned approximately 0.08% of Noah worth $589,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NOAH. Tower Research Capital LLC TRC lifted its stake in Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock worth $28,000 after acquiring an additional 2,187 shares during the period. Public Employees Retirement Association of Colorado bought a new position in Noah in the fourth quarter worth about $39,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Noah during the fourth quarter valued at about $52,000. BNP Paribas Financial Markets purchased a new stake in shares of Noah during the fourth quarter valued at about $72,000. Finally, Hsbc Holdings PLC purchased a new stake in shares of Noah during the fourth quarter valued at about $150,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

Noah Trading Up 2.6%

Shares of NOAH opened at $11.37 on Friday. The firm has a market cap of $752.00 million, a P/E ratio of 9.71 and a beta of 0.84. Noah Holdings Limited has a 12-month low of $7.14 and a 12-month high of $14.90. The company's 50-day moving average price is $9.37 and its 200 day moving average price is $10.61.

Noah (NYSE:NOAH - Get Free Report) last issued its quarterly earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share (EPS) for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. The company had revenue of $84.69 million for the quarter. Equities research analysts forecast that Noah Holdings Limited will post 0.93 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Wall Street Zen lowered shares of Noah from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th. JPMorgan Chase & Co. raised shares of Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price target for the company in a research report on Wednesday, April 9th. Finally, UBS Group restated a "neutral" rating and set a $11.50 price objective on shares of Noah in a report on Friday, March 28th.

Noah 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.

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