Platinum Investment Management Ltd. Cuts Position in Noah Holdings Limited (NYSE:NOAH)

Platinum Investment Management Ltd. cut its holdings in Noah Holdings Limited (NYSE:NOAH) by 0.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,602,254 shares of the asset manager’s stock after selling 12,293 shares during the period. Noah makes up 1.3% of Platinum Investment Management Ltd.’s portfolio, making the stock its 24th largest position. Platinum Investment Management Ltd. owned 4.07% of Noah worth $36,640,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the business. JPMorgan Chase & Co. lifted its stake in Noah by 1,597.5% in the second quarter. JPMorgan Chase & Co. now owns 3,361 shares of the asset manager’s stock worth $47,000 after purchasing an additional 3,163 shares during the last quarter. Northern Trust Corp raised its stake in shares of Noah by 145.7% during the second quarter. Northern Trust Corp now owns 35,975 shares of the asset manager’s stock valued at $507,000 after acquiring an additional 21,331 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Noah during the second quarter valued at about $54,000. DGS Capital Management LLC raised its stake in shares of Noah by 8.8% during the first quarter. DGS Capital Management LLC now owns 23,130 shares of the asset manager’s stock valued at $383,000 after acquiring an additional 1,868 shares during the last quarter. Finally, State Street Corp raised its stake in shares of Noah by 2.6% during the first quarter. State Street Corp now owns 214,971 shares of the asset manager’s stock valued at $3,558,000 after acquiring an additional 5,518 shares during the last quarter. 42.67% of the stock is owned by institutional investors.

Noah Trading Down 0.1 %

NOAH traded down $0.01 during midday trading on Tuesday, reaching $13.63. The company’s stock had a trading volume of 10,897 shares, compared to its average volume of 67,400. The firm has a market capitalization of $870.82 million, a price-to-earnings ratio of 7.56, a PEG ratio of 2.65 and a beta of 1.04. Noah Holdings Limited has a 1 year low of $10.88 and a 1 year high of $21.53. The stock’s 50-day moving average is $12.19 and its 200-day moving average is $13.77.

Noah (NYSE:NOAH) last announced its quarterly earnings data on Monday, August 28th. The asset manager reported $0.62 earnings per share for the quarter. Noah had a net margin of 26.54% and a return on equity of 9.20%. The business had revenue of $129.87 million for the quarter. As a group, equities research analysts forecast that Noah Holdings Limited will post 2.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on NOAH. UBS Group raised shares of Noah from a “neutral” rating to a “buy” rating and upped their price objective for the company from $16.30 to $18.00 in a research note on Monday, November 13th. StockNews.com downgraded shares of Noah from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 7th. Finally, JPMorgan Chase & Co. raised shares of Noah from a “neutral” rating to an “overweight” rating and set a $18.00 price target for the company in a research note on Tuesday, August 29th.

Noah 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 Businesses.