Noah (NYSE:NOAH) Downgraded by Wall Street Zen to "Hold"

Key Points

• Wall Street Zen downgraded Noah from “Buy” to “Hold,” joining other cautious analyst views. Noah’s consensus rating is now “Hold,” with an average price target of $10.75.
• Noah shares opened at $8.76, below their 50-day and 200-day moving averages of $9.55 and $10.49, respectively. The stock has traded between $8.14 and $12.84 over the past year.
• Institutional investors and hedge funds own approximately 42.67% of Noah’s shares, with Renaissance Technologies and Dimensional Fund Advisors among investors that recently increased their positions.

Noah (NYSE:NOAH - Get Free Report) was downgraded by analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

NOAH has been the topic of a number of other reports. JPMorgan Chase & Co. cut their target price on shares of Noah from $12.00 to $11.50 and set a "neutral" rating on the stock in a research note on Tuesday, June 2nd. Weiss Ratings cut shares of Noah from a "hold (c)" rating to a "hold (c-)" rating in a report on Friday, July 10th. Finally, Zacks Research raised shares of Noah from a "strong sell" rating to a "hold" rating in a research report on Monday, May 25th. Four investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, Noah presently has an average rating of "Hold" and a consensus target price of $10.75.

Noah Price Performance

Shares of NYSE NOAH opened at $8.76 on Friday. The stock's 50-day moving average is $9.55 and its two-hundred day moving average is $10.49. Noah has a 1-year low of $8.14 and a 1-year high of $12.84. The company has a market cap of $590.86 million, a price-to-earnings ratio of 8.11 and a beta of 0.81.

Hedge Funds Weigh In On Noah

Several institutional investors have recently added to or reduced their stakes in NOAH. Ramsey Quantitative Systems acquired a new stake in Noah during the 2nd quarter worth approximately $105,000. Renaissance Technologies LLC lifted its holdings in shares of Noah by 132.4% during the first quarter. Renaissance Technologies LLC now owns 95,500 shares of the asset manager's stock worth $945,000 after purchasing an additional 54,400 shares during the period. Dimensional Fund Advisors LP increased its stake in Noah by 9.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 468,510 shares of the asset manager's stock valued at $4,641,000 after buying an additional 40,332 shares during the period. IMC Chicago LLC purchased a new position in Noah during the 1st quarter worth $100,000. Finally, Kestra Private Wealth Services LLC acquired a new stake in shares of Noah in the 1st quarter worth $103,000. Institutional investors and hedge funds own 42.67% of the company's stock.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah's business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah's main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.

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