Noah Holdings Ltd. (NOAH) Downgraded by BidaskClub

Noah Holdings Ltd. (NYSE:NOAH) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a report released on Friday, September 1st.

A number of other brokerages have also recently weighed in on NOAH. Zacks Investment Research raised shares of Noah Holdings from a “sell” rating to a “hold” rating in a research report on Thursday, August 31st. ValuEngine cut shares of Noah Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

Noah Holdings (NYSE:NOAH) opened at 28.90 on Friday. Noah Holdings has a one year low of $21.33 and a one year high of $33.05. The company has a market cap of $1.63 billion, a P/E ratio of 16.25 and a beta of 2.37. The company has a 50 day moving average of $30.14 and a 200-day moving average of $28.20.

Noah Holdings announced that its board has initiated a stock repurchase plan on Thursday, June 29th that authorizes the company to repurchase $50.00 million in outstanding shares. This repurchase authorization authorizes the asset manager to purchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

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Hedge funds have recently bought and sold shares of the stock. Ward Ferry Management BVI Ltd lifted its holdings in Noah Holdings by 65.0% in the 1st quarter. Ward Ferry Management BVI Ltd now owns 2,734,100 shares of the asset manager’s stock valued at $69,391,000 after acquiring an additional 1,077,200 shares during the last quarter. Yiheng Capital LLC lifted its holdings in Noah Holdings by 25.0% in the 2nd quarter. Yiheng Capital LLC now owns 1,636,402 shares of the asset manager’s stock valued at $46,883,000 after acquiring an additional 327,449 shares during the last quarter. Davis Selected Advisers lifted its holdings in Noah Holdings by 13.3% in the 2nd quarter. Davis Selected Advisers now owns 1,434,298 shares of the asset manager’s stock valued at $41,093,000 after acquiring an additional 168,882 shares during the last quarter. FIL Ltd lifted its stake in Noah Holdings by 1.6% during the second quarter. FIL Ltd now owns 1,349,039 shares of the asset manager’s stock valued at $38,650,000 after buying an additional 21,174 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Noah Holdings by 223,587.6% during the second quarter. JPMorgan Chase & Co. now owns 738,169 shares of the asset manager’s stock valued at $21,150,000 after buying an additional 737,839 shares in the last quarter. 41.56% of the stock is owned by institutional investors and hedge funds.

Noah Holdings Company Profile

Noah Holdings Limited is a wealth management service provider with a focus on global wealth investment and asset allocation services for high net worth individuals and enterprises in China. The Company operates through three segments: wealth management, asset management and Internet finance. It also provides Internet finance services to clients in China.

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