Noah (NYSE:NOAH) Sees Unusually-High Trading Volume - Time to Buy?

Key Points

• Noah Holdings Ltd. experienced a significant increase in trading volume, with approximately 1,112,873 shares traded—up 741% from the previous session.
• Wall Street Zen upgraded Noah's rating from "hold" to "buy", with current stock valuation at $12.54 and a consensus price target of $12.00.
• The company reported a net margin of 22.17% and revenue of $87.87 million for the last quarter, surpassing analysts' expectations.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report) shares saw unusually-high trading volume on Tuesday . Approximately 1,112,873 shares changed hands during trading, an increase of 741% from the previous session's volume of 132,374 shares.The stock last traded at $12.54 and had previously closed at $12.45.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen raised shares of Noah from a "hold" rating to a "buy" rating in a research report on Saturday. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $12.00.

Noah Stock Performance

The business has a fifty day moving average of $12.05 and a 200-day moving average of $10.89. The company has a market capitalization of $814.10 million, a P/E ratio of 10.97 and a beta of 0.90.

Noah (NYSE:NOAH - Get Free Report) last issued its earnings results on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. Noah had a return on equity of 6.44% and a net margin of 22.17%.The company had revenue of $87.87 million for the quarter, compared to analysts' expectations of $86.31 million. Sell-side analysts anticipate that Noah Holdings Ltd. will post 0.93 EPS for the current year.

Noah Cuts Dividend

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

Hedge Funds Weigh In On Noah

Several large investors have recently bought and sold shares of the stock. Bank of America Corp DE lifted its stake in Noah by 2.2% during 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 acquiring an additional 2,163 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in Noah during the 2nd quarter valued at $14,128,000. Marshall Wace LLP bought a new position in Noah during the 2nd quarter valued at $306,000. Russell Investments Group Ltd. raised 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 purchasing an additional 3,251 shares during the period. Finally, American Century Companies Inc. raised 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 purchasing an additional 2,084 shares during the period. 42.67% of the stock is currently owned by institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.