Noah (NYSE:NOAH) Announces Quarterly Earnings Results

Noah (NYSE:NOAH - Get Free Report) announced its quarterly earnings results on Wednesday. The asset manager reported $0.33 earnings per share for the quarter, Zacks reports. Noah had a return on equity of 6.43% and a net margin of 23.53%. The firm had revenue of $84.69 million for the quarter.

Noah Trading Down 4.5%

Shares of NYSE NOAH traded down $0.48 during midday trading on Friday, hitting $10.29. 147,485 shares of the company's stock were exchanged, compared to its average volume of 172,590. Noah has a 12-month low of $7.14 and a 12-month high of $14.90. The company has a market cap of $689.75 million, a price-to-earnings ratio of 8.79 and a beta of 0.79. The business's fifty day moving average price is $9.28 and its two-hundred day moving average price is $10.64.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Noah stock. Cubist Systematic Strategies LLC boosted its position in Noah Holdings Limited (NYSE:NOAH - Free Report) by 307.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,980 shares of the asset manager's stock after buying an additional 13,564 shares during the quarter. Cubist Systematic Strategies LLC's holdings in Noah were worth $170,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 42.67% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NOAH. JPMorgan Chase & Co. upgraded Noah from a "neutral" rating to an "overweight" rating and set a $11.50 price target on the stock in a research report on Wednesday, April 9th. UBS Group reissued a "neutral" rating and set a $11.50 price objective on shares of Noah in a report on Friday, March 28th. Finally, Wall Street Zen lowered Noah from a "buy" rating to a "hold" rating in a report on Thursday, March 20th.

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.