Noah (NYSE:NOAH) Shares Gap Up to $10.12

Noah Holdings Limited (NYSE:NOAH)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $10.12, but opened at $11.23. Noah shares last traded at $11.95, with a volume of 142,119 shares changing hands.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered Noah from a “strong-buy” rating to a “buy” rating in a report on Monday, March 18th.

Noah Stock Down 3.6 %

The company has a market cap of $749.92 million, a price-to-earnings ratio of 5.60 and a beta of 1.00. The company has a fifty day simple moving average of $11.41 and a two-hundred day simple moving average of $12.19.

Noah (NYSE:NOAH) last posted its earnings results on Tuesday, March 26th. The asset manager reported $0.47 earnings per share for the quarter. The company had revenue of $74.64 million for the quarter. Noah had a return on equity of 10.05% and a net margin of 33.36%. During the same period last year, the company posted $0.31 EPS. On average, research analysts predict that Noah Holdings Limited will post 2.54 EPS for the current year.

Institutional Trading of Noah

A number of large investors have recently made changes to their positions in the stock. BlackRock Inc. lifted its position in Noah by 5.8% during the first quarter. BlackRock Inc. now owns 1,699,678 shares of the asset manager’s stock worth $39,994,000 after buying an additional 93,890 shares during the period. Vanguard Group Inc. lifted its position in Noah by 3.2% during the first quarter. Vanguard Group Inc. now owns 1,340,389 shares of the asset manager’s stock worth $31,539,000 after buying an additional 41,294 shares during the period. Franklin Resources Inc. lifted its position in Noah by 31.4% during the second quarter. Franklin Resources Inc. now owns 651,294 shares of the asset manager’s stock worth $9,170,000 after buying an additional 155,742 shares during the period. State Street Corp lifted its position in Noah by 0.6% during the first quarter. State Street Corp now owns 540,745 shares of the asset manager’s stock worth $12,724,000 after buying an additional 3,198 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Noah by 12.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 339,655 shares of the asset manager’s stock worth $4,487,000 after purchasing an additional 38,004 shares during the period. Institutional investors and hedge funds 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 Businesses.