Millennium Management LLC Has $589,000 Holdings in Noah Holdings Limited (NYSE:NOAH)

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

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Research Capital LLC TRC raised its holdings in shares of Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock worth $28,000 after purchasing an additional 2,187 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Noah during the fourth quarter valued at $39,000. Barclays PLC lifted its holdings in shares of Noah by 14.0% during the fourth quarter. Barclays PLC now owns 28,660 shares of the asset manager's stock valued at $335,000 after purchasing an additional 3,524 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in shares of Noah during the fourth quarter valued at $52,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of Noah during the fourth quarter valued at $72,000. 42.67% of the stock is currently owned by institutional investors.

Noah Price Performance

Noah stock traded up $0.21 during mid-day trading on Wednesday, hitting $12.13. The company's stock had a trading volume of 602,458 shares, compared to its average volume of 175,088. The firm's 50 day moving average is $9.53 and its 200 day moving average is $10.62. The company has a market cap of $802.29 million, a PE ratio of 10.36 and a beta of 0.84. Noah Holdings Limited has a 52-week low of $7.14 and a 52-week high of $14.90.

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

Wall Street Analysts Forecast Growth

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

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.