Noah (NYSE:NOAH) Cut to "Hold" at Wall Street Zen

Key Points

• Noah Holdings (NYSE:NOAH) was downgraded from a "buy" to a "hold" rating by Wall Street Zen, indicating a shift in analyst sentiment regarding the stock.
• The company's stock price increased by 5.9% to $12.5730 following the downgrade, suggesting market resilience despite the rating change.
• Institutional investors hold 42.67% of Noah's shares, indicating a significant level of interest from larger financial entities in the company's performance.

Noah (NYSE:NOAH - Get Free Report) was downgraded by equities researchers at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Friday.

Noah Stock Up 5.9%

NYSE NOAH opened at $12.5730 on Friday. Noah has a twelve month low of $7.33 and a twelve month high of $14.90. The company has a market cap of $831.83 million, a price-to-earnings ratio of 12.96 and a beta of 0.84. The business's fifty day moving average is $12.06 and its 200 day moving average is $10.85.

Noah (NYSE:NOAH - Get Free Report) last posted its quarterly earnings data on Wednesday, May 28th. The asset manager reported $0.33 EPS for the quarter. The company had revenue of $84.69 million for the quarter. Noah had a return on equity of 5.62% and a net margin of 19.22%. On average, research analysts anticipate that Noah will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

Several institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE grew its stake in Noah by 2.2% in the 2nd quarter. Bank of America Corp DE now owns 99,919 shares of the asset manager's stock valued at $1,193,000 after purchasing an additional 2,163 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of Noah during the 2nd quarter worth $14,128,000. Marshall Wace LLP bought a new position in shares of Noah during the 2nd quarter worth $306,000. Russell Investments Group Ltd. grew its stake in shares of Noah by 10.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 35,627 shares of the asset manager's stock worth $429,000 after acquiring an additional 3,251 shares during the period. Finally, American Century Companies Inc. grew its stake in shares of Noah by 1.5% during the 2nd quarter. American Century Companies Inc. now owns 139,499 shares of the asset manager's stock worth $1,666,000 after acquiring an additional 2,084 shares during the period. Institutional investors own 42.67% of the company's stock.

Noah Company 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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