Noah (NYSE:NOAH) Rating Lowered to “Strong Sell” at Zacks Research

Noah (NYSE:NOAH) was downgraded by stock analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research note issued on Tuesday,Zacks.com reports.

A number of other equities analysts have also recently commented on NOAH. Wall Street Zen cut Noah from a “buy” rating to a “hold” rating in a report on Saturday, January 31st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Noah in a research note on Monday, December 29th. JPMorgan Chase & Co. cut Noah from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $14.70 to $12.00 in a research report on Thursday, March 26th. Finally, UBS Group lowered their target price on Noah from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. Three equities research analysts have rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Noah currently has a consensus rating of “Reduce” and a consensus price target of $11.00.

Noah Stock Performance

Shares of NYSE NOAH traded down $0.13 during trading hours on Tuesday, hitting $10.04. 5,527 shares of the stock were exchanged, compared to its average volume of 145,715. The company’s fifty day simple moving average is $11.39 and its two-hundred day simple moving average is $11.10. The company has a market cap of $673.18 million, a PE ratio of 9.05 and a beta of 0.79. Noah has a 1-year low of $8.10 and a 1-year high of $12.84.

Institutional Trading of Noah

Several institutional investors have recently added to or reduced their stakes in the stock. FIL Ltd increased its position in Noah by 7.1% during the 4th quarter. FIL Ltd now owns 6,377,766 shares of the asset manager’s stock valued at $64,033,000 after purchasing an additional 424,717 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of Noah in the 2nd quarter worth approximately $14,128,000. Nuveen LLC boosted its stake in shares of Noah by 35.0% in the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock valued at $4,565,000 after purchasing an additional 117,971 shares during the last quarter. Prescott Group Capital Management L.L.C. boosted its stake in shares of Noah by 7.4% in the 4th quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock valued at $4,467,000 after purchasing an additional 30,691 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of Noah by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 428,178 shares of the asset manager’s stock worth $4,301,000 after buying an additional 4,487 shares during the period. 42.67% of the stock is currently owned by institutional investors.

Noah Company Profile

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.