Noah (NYSE:NOAH) Upgraded to Buy at StockNews.com

StockNews.com upgraded shares of Noah (NYSE:NOAH) from a hold rating to a buy rating in a research report released on Tuesday morning.

NOAH has been the topic of a number of other reports. UBS Group cut Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a report on Thursday, October 24th. Morgan Stanley cut Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research note on Friday, November 29th.

Noah Stock Performance

Shares of NYSE:NOAH opened at $10.71 on Tuesday. The stock has a market capitalization of $708.57 million, a price-to-earnings ratio of 9.15 and a beta of 0.79. Noah has a 1-year low of $7.14 and a 1-year high of $15.44. The company has a 50 day moving average price of $11.91 and a 200 day moving average price of $10.36.

Institutional Trading of Noah

Several hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC acquired a new position in Noah during the third quarter valued at $8,895,000. Franklin Resources Inc. increased its holdings in shares of Noah by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock valued at $24,441,000 after purchasing an additional 167,685 shares during the period. First Beijing Investment Ltd purchased a new stake in shares of Noah in the third quarter worth approximately $1,531,000. Dimensional Fund Advisors LP boosted its holdings in shares of Noah by 50.5% during the second quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock worth $2,472,000 after purchasing an additional 85,771 shares during the period. Finally, AQR Capital Management LLC purchased a new position in Noah during the second quarter valued at approximately $615,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

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.