Noah (NYSE:NOAH) Shares Gap Down - Time to Sell?

Key Points

• Noah Holdings Ltd. shares gapped down from a previous close of $11.95 to $11.46, last trading at $11.65 with a volume of 41,276 shares.
• Wall Street Zen upgraded Noah's rating from "hold" to "buy," reflecting improved analyst sentiment despite recent stock volatility.
• The firm declared a dividend of $1.1572 per share with a striking yield of 830%, while also experiencing significant increases in institutional investments, particularly by Bank of America Corp DE.

Noah Holdings Ltd. (NYSE:NOAH - Get Free Report)'s share price gapped down before the market opened on Friday . The stock had previously closed at $11.95, but opened at $11.46. Noah shares last traded at $11.65, with a volume of 41,276 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded Noah from a "hold" rating to a "buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $12.00.

Noah Stock Performance

The company has a market cap of $791.21 million, a P/E ratio of 12.33 and a beta of 0.84. The company has a fifty day moving average price of $12.07 and a two-hundred day moving average price of $10.82.

Noah (NYSE:NOAH - Get Free Report) last announced its quarterly earnings data on Wednesday, May 28th. The asset manager reported $0.33 earnings per share for the quarter. The company had revenue of $84.69 million during the quarter. Noah had a return on equity of 5.62% and a net margin of 19.22%. Research 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. Stockholders of record on Thursday, July 3rd were issued a $1.1572 dividend. The ex-dividend date was Thursday, July 3rd. This represents a dividend yield of 830.0%. Noah's dividend payout ratio (DPR) is presently 57.73%.

Hedge Funds Weigh In On Noah

Several hedge funds have recently modified their holdings of NOAH. Tower Research Capital LLC TRC grew its holdings in shares of Noah by 1,188.6% in the 4th quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager's stock valued at $28,000 after acquiring an additional 2,187 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in Noah during the fourth quarter worth about $39,000. Cubist Systematic Strategies LLC bought a new position in Noah during the fourth quarter worth about $52,000. Signaturefd LLC grew its holdings in Noah by 124.7% during the second quarter. Signaturefd LLC now owns 5,778 shares of the asset manager's stock worth $69,000 after purchasing an additional 3,207 shares during the period. Finally, BNP Paribas Financial Markets bought a new position in Noah during the fourth quarter worth about $72,000. 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.