Noah (NYSE:NOAH) Downgraded to "Strong Sell" Rating by Zacks Research

Key Points

• Zacks Research downgraded Noah (NYSE:NOAH) from a "hold" to a "strong sell", and MarketBeat shows a consensus rating of "Reduce" with an average target price of $11.00.
• Shares opened at $10.19, trade in a 52‑week range of $7.67–$12.84, and the company has a market cap of about $683.2M with a P/E of 9.18.
• Institutions own roughly 42.67% of the stock; recent moves include Prescott Group increasing its stake to 444,967 shares (~$4.47M) and new, smaller positions added by Virtu and others.

Noah (NYSE:NOAH - Get Free Report) was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued on Tuesday,Zacks.com reports.

NOAH has been the subject of several other research reports. JPMorgan Chase & Co. lowered Noah from an "overweight" rating to a "neutral" rating and decreased their target price for the stock from $14.70 to $12.00 in a research report on Thursday, March 26th. Weiss Ratings reissued a "hold (c-)" rating on shares of Noah in a research report on Monday, December 29th. Wall Street Zen lowered Noah from a "buy" rating to a "hold" rating in a research report on Saturday, January 31st. Finally, UBS Group decreased their target price on Noah from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Monday, December 22nd. Three investment analysts have rated the stock with a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, Noah currently has a consensus rating of "Reduce" and an average target price of $11.00.

Noah Stock Performance

Shares of NYSE:NOAH opened at $10.19 on Tuesday. Noah has a 52-week low of $7.67 and a 52-week high of $12.84. The firm has a market capitalization of $683.24 million, a P/E ratio of 9.18 and a beta of 0.79. The stock has a 50 day moving average price of $11.39 and a 200-day moving average price of $11.10.

Institutional Trading of Noah

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Virtu Financial LLC purchased a new stake in shares of Noah in the 4th quarter worth approximately $115,000. Federation des caisses Desjardins du Quebec purchased a new stake in shares of Noah in the 4th quarter worth approximately $41,000. Prescott Group Capital Management L.L.C. grew its stake in shares of Noah by 7.4% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager's stock worth $4,467,000 after buying an additional 30,691 shares during the last quarter. Centiva Capital LP purchased a new stake in shares of Noah in the 3rd quarter worth approximately $118,000. Finally, Creative Planning grew its stake in shares of Noah by 10.6% in the 3rd quarter. Creative Planning now owns 12,516 shares of the asset manager's stock worth $145,000 after buying an additional 1,195 shares during the last quarter. Hedge funds and other institutional investors 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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