Noah Holdings Ltd. (NYSE:NOAH) Sees Large Decline in Short Interest

Key Points

• Noah Holdings Ltd. experienced a significant decline in short interest, dropping by 47.3% from August to September, with current short interest totaling 275,000 shares.
• Brokerages have issued mixed ratings for Noah, with one "Buy," two "Hold," and one "Sell," resulting in an average price target of $12.00.
• The stock has recently faced a 2.3% decline in share price, closing at $11.96, and is experiencing significant institutional interest with 42.67% of shares held by institutional investors.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) saw a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 275,000 shares, a decrease of 47.3% from the August 31st total of 522,100 shares. Based on an average daily volume of 196,600 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily volume of 196,600 shares, the days-to-cover ratio is currently 1.4 days.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NOAH. Wall Street Zen downgraded shares of Noah from a "buy" rating to a "hold" rating in a research report on Saturday, September 20th. Weiss Ratings reissued a "sell (d+)" rating on shares of Noah in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $12.00.

Noah Stock Down 2.3%

Shares of NYSE NOAH traded down $0.28 during trading on Friday, reaching $11.96. 115,141 shares of the company traded hands, compared to its average volume of 262,541. The firm has a 50 day simple moving average of $11.93 and a 200-day simple moving average of $10.99. The stock has a market capitalization of $791.51 million, a PE ratio of 10.68 and a beta of 0.87. Noah has a 52-week low of $7.67 and a 52-week high of $14.90.

Noah (NYSE:NOAH - Get Free Report) last announced its quarterly earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $87.87 million for the quarter, compared to the consensus estimate of $86.31 million. Noah had a net margin of 22.17% and a return on equity of 6.44%. As a group, research analysts predict that Noah will post 0.93 EPS for the current year.

Noah Cuts Dividend

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

Institutional Trading of Noah

A number of institutional investors have recently made changes to their positions in NOAH. Signaturefd LLC lifted its stake in shares of Noah by 124.7% in the 2nd quarter. Signaturefd LLC now owns 5,778 shares of the asset manager's stock worth $69,000 after purchasing an additional 3,207 shares during the period. Cubist Systematic Strategies LLC lifted its stake in shares of Noah by 307.2% in the 1st quarter. Cubist Systematic Strategies LLC now owns 17,980 shares of the asset manager's stock worth $170,000 after purchasing an additional 13,564 shares during the period. Public Employees Retirement System of Ohio lifted its stake in shares of Noah by 18.1% in the 4th quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager's stock worth $223,000 after purchasing an additional 2,930 shares during the period. Everstar Asset Management LLC bought a new position in shares of Noah in the 1st quarter worth approximately $217,000. Finally, Marshall Wace LLP bought a new position in shares of Noah in the 2nd quarter worth approximately $306,000. Hedge funds and other institutional investors own 42.67% of the company's stock.

About Noah

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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