Noah Holdings Ltd. $NOAH Stock Bought by Prescott Group Capital Management L.L.C.

Key Points

• Prescott Group increased its Noah Holdings stake by 33.3% in the third quarter, adding 148,148 shares to hold 593,115 shares, worth about $4.7 million at quarter-end.
• Analyst sentiment is cautious: Noah has a consensus “Reduce” rating and an average price target of $9.85, with three Hold ratings and one Sell rating.
• Noah shares opened at $6.76, near their 52-week low of $6.57. In its latest reported quarter, the company posted earnings of $0.51 per share on $91.24 million in revenue.

Prescott Group Capital Management L.L.C. raised its position in Noah Holdings Ltd. (NYSE:NOAH - Free Report) by 33.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 593,115 shares of the asset manager's stock after buying an additional 148,148 shares during the quarter. Prescott Group Capital Management L.L.C. owned about 0.87% of Noah worth $4,692,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its holdings in Noah by 132.4% in the 1st quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager's stock worth $945,000 after buying an additional 54,400 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Noah by 9.4% in the first quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager's stock worth $4,641,000 after acquiring an additional 40,332 shares during the period. Hsbc Holdings PLC grew its position in shares of Noah by 47.7% in the fourth quarter. Hsbc Holdings PLC now owns 71,912 shares of the asset manager's stock valued at $725,000 after purchasing an additional 23,217 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of Noah in the first quarter valued at $116,000. Finally, Ramsey Quantitative Systems purchased a new position in shares of Noah in the second quarter valued at $105,000. Hedge funds and other institutional investors own 42.67% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on NOAH. JPMorgan Chase & Co. cut their price target on shares of Noah from $10.50 to $9.70 and set a "neutral" rating for the company in a report on Monday, September 21st. Wall Street Zen downgraded Noah from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings downgraded Noah from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Wednesday, October 21st. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Reduce" and an average price target of $9.85.

Noah Price Performance

Shares of NOAH opened at $6.76 on Wednesday. Noah Holdings Ltd. has a one year low of $6.57 and a one year high of $12.44. The company has a 50-day simple moving average of $7.75 and a two-hundred day simple moving average of $9.71. The firm has a market capitalization of $461.91 million, a PE ratio of 5.33 and a beta of 0.79.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The asset manager reported $0.51 earnings per share for the quarter. Noah had a return on equity of 6.37% and a net margin of 22.57%. The company had revenue of $91.24 million during the quarter. Analysts expect that Noah Holdings Ltd. will post 1.37 EPS for the current fiscal year.

Noah Profile

Noah Holdings Limited is a Chinese wealth management services provider headquartered in Shanghai. The company offers wealth management, asset management and related financial services to high-net-worth individuals, families, entrepreneurs and corporate clients.

Through its wealth management business, Noah provides investment advisory and asset-allocation services, along with access to a range of financial products and solutions. Its asset management operations, historically conducted through Gopher Asset Management, have included private equity, credit, public securities, real estate and other alternative investments.

Founded in 2003, Noah expanded its services through a network of offices and has served clients in mainland China as well as selected international markets.

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