Renaissance Technologies LLC Trims Position in Noah Holdings Limited (NYSE:NOAH)

Renaissance Technologies LLC decreased its position in shares of Noah Holdings Limited (NYSE:NOAH - Free Report) by 50.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,882 shares of the asset manager's stock after selling 63,733 shares during the quarter. Renaissance Technologies LLC owned 0.09% of Noah worth $725,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Sei Investments Co. purchased a new position in Noah during the fourth quarter valued at approximately $167,000. Ballentine Partners LLC lifted its stake in shares of Noah by 16.7% in the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager's stock valued at $323,000 after purchasing an additional 3,948 shares during the period. O Shaughnessy Asset Management LLC boosted its holdings in Noah by 167.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,273 shares of the asset manager's stock worth $401,000 after buying an additional 21,464 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its position in Noah by 113.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,216 shares of the asset manager's stock valued at $565,000 after buying an additional 25,578 shares during the period. Finally, Trexquant Investment LP raised its position in shares of Noah by 170.7% in the fourth quarter. Trexquant Investment LP now owns 91,071 shares of the asset manager's stock worth $1,066,000 after acquiring an additional 57,425 shares during the period. Hedge funds and other institutional investors own 42.67% of the company's stock.

Wall Street Analyst Weigh In

NOAH has been the subject of several recent analyst reports. JPMorgan Chase & Co. upgraded Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price target for the company in a research note on Wednesday, April 9th. UBS Group reaffirmed a "neutral" rating and set a $11.50 target price on shares of Noah in a research note on Friday, March 28th. Finally, StockNews.com cut shares of Noah from a "buy" rating to a "hold" rating in a research report on Thursday, March 20th.

Noah Stock Performance

Shares of NOAH traded up $0.07 during trading hours on Wednesday, hitting $9.48. 62,877 shares of the stock were exchanged, compared to its average volume of 183,021. The stock's 50-day moving average price is $9.73 and its two-hundred day moving average price is $10.98. Noah Holdings Limited has a 12-month low of $7.14 and a 12-month high of $15.44. The company has a market cap of $635.45 million, a price-to-earnings ratio of 8.10 and a beta of 0.79.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings results on Tuesday, March 25th. The asset manager reported $0.26 earnings per share for the quarter. Noah had a net margin of 23.53% and a return on equity of 6.43%. The firm had revenue of $89.31 million for the quarter, compared to the consensus estimate of $102.07 million. On average, research analysts expect that Noah Holdings Limited will post 0.93 earnings per share for the current year.

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.