Noah Holdings Ltd. $NOAH Shares Sold by Platinum Investment Management Ltd.

Key Points

• Platinum Investment Management Ltd. reduced its stake in Noah Holdings Ltd. by 24.7% during Q2, now holding approximately 1.1% of the company's shares, worth around $16.6 million.
• Noah Holdings' shares increased by 5.2%, and the company has reported a net margin of 22.17% along with a revenue of $87.87 million for the quarter.
• Wall Street analysts have mixed views on Noah's prospects, with the consensus rating downgraded to "Hold" and a price target of $12.00.

Platinum Investment Management Ltd. lowered its holdings in Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 24.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,393,053 shares of the asset manager's stock after selling 456,336 shares during the quarter. Noah accounts for 1.1% of Platinum Investment Management Ltd.'s holdings, making the stock its 20th biggest position. Platinum Investment Management Ltd. owned approximately 2.11% of Noah worth $16,633,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NOAH. Invesco Ltd. grew its stake in shares of Noah by 7.1% during the 1st quarter. Invesco Ltd. now owns 30,880 shares of the asset manager's stock worth $292,000 after purchasing an additional 2,047 shares during the period. Public Employees Retirement System of Ohio grew its position in Noah by 18.1% during the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock valued at $223,000 after buying an additional 2,930 shares during the period. Signaturefd LLC grew its position in Noah by 124.7% during the second quarter. Signaturefd LLC now owns 5,778 shares of the asset manager's stock valued at $69,000 after buying an additional 3,207 shares during the period. Ballentine Partners LLC grew its position in shares of Noah by 20.5% during the 2nd quarter. Ballentine Partners LLC now owns 26,824 shares of the asset manager's stock valued at $320,000 after acquiring an additional 4,563 shares during the period. Finally, Cubist Systematic Strategies LLC grew its position in shares of Noah by 307.2% during the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock valued at $170,000 after acquiring an additional 13,564 shares during the period. Institutional investors and hedge funds own 42.67% of the company's stock.

Noah Stock Up 5.2%

Shares of NYSE NOAH opened at $12.19 on Thursday. The company's 50-day simple moving average is $11.94 and its 200-day simple moving average is $10.98. Noah Holdings Ltd. has a 52-week low of $7.67 and a 52-week high of $14.90. The firm has a market cap of $806.73 million, a price-to-earnings ratio of 10.88 and a beta of 0.87.

Noah (NYSE:NOAH - Get Free Report) last announced its earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. Noah had a net margin of 22.17% and a return on equity of 6.44%. The business had revenue of $87.87 million for the quarter, compared to analyst estimates of $86.31 million. Equities research analysts anticipate that Noah Holdings Ltd. will post 0.93 EPS for the current fiscal year.

Noah Cuts Dividend

The company also recently declared an annual dividend, which was paid on Friday, August 1st. Stockholders of record on Thursday, July 3rd were paid a $1.1572 dividend. The ex-dividend date of this dividend was Thursday, July 3rd. This represents a dividend yield of 830.0%. Noah's payout ratio is currently 50.00%.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen cut Noah from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. One analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Noah currently has a consensus rating of "Hold" and a consensus price target of $12.00.

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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