Noah (NYSE:NOAH) Shares Gap Down to $15.74

Noah Holdings Limited (NYSE:NOAH – Get Rating)’s share price gapped down before the market opened on Friday . The stock had previously closed at $15.74, but opened at $15.38. Noah shares last traded at $14.99, with a volume of 16,727 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com downgraded Noah from a “buy” rating to a “hold” rating in a research note on Friday.

Noah Stock Down 3.4 %

The firm has a 50 day moving average price of $16.31 and a two-hundred day moving average price of $16.81. The company has a market capitalization of $971.77 million, a price-to-earnings ratio of 7.11, a P/E/G ratio of 2.69 and a beta of 1.05.

Noah (NYSE:NOAH – Get Rating) last posted its quarterly earnings results on Monday, March 27th. The asset manager reported $0.31 EPS for the quarter. The business had revenue of $127.89 million during the quarter. Noah had a return on equity of 11.27% and a net margin of 31.79%. Analysts predict that Noah Holdings Limited will post 2.58 earnings per share for the current year.

Hedge Funds Weigh In On Noah

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC grew its stake in Noah by 91.7% in the third quarter. Quadrant Capital Group LLC now owns 2,406 shares of the asset manager’s stock worth $32,000 after purchasing an additional 1,151 shares in the last quarter. Public Employees Retirement Association of Colorado acquired a new position in Noah in the fourth quarter valued at approximately $34,000. Signaturefd LLC boosted its stake in Noah by 113.9% in the fourth quarter. Signaturefd LLC now owns 3,485 shares of the asset manager’s stock valued at $54,000 after acquiring an additional 1,856 shares during the period. DekaBank Deutsche Girozentrale acquired a new position in Noah in the first quarter valued at approximately $78,000. Finally, US Bancorp DE boosted its stake in Noah by 317.8% in the third quarter. US Bancorp DE now owns 7,888 shares of the asset manager’s stock valued at $104,000 after acquiring an additional 6,000 shares during the period. 45.44% of the stock is currently owned by institutional investors and hedge funds.

About Noah

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Noah Holdings Ltd. engages in the provision of investment advisory and wealth management services. It operates through the following segments: Wealth Management, Asset Management, and Other Businesses. The Wealth Management segment offers a global wealth investment and asset allocation services to high net worth individuals and enterprise clients in China.