Noah Holdings Ltd. (NYSE:NOAH) was downgraded by investment analysts at BidaskClub from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

A number of other equities analysts have also issued reports on the stock. Zacks Investment Research lowered shares of Noah Holdings from a “hold” rating to a “sell” rating in a research report on Wednesday, July 5th. ValuEngine lowered shares of Noah Holdings from a “buy” rating to a “hold” rating in a research report on Friday, June 2nd.

Shares of Noah Holdings (NYSE:NOAH) traded up 0.92% during mid-day trading on Thursday, reaching $28.49. 9,844 shares of the company’s stock traded hands. The firm’s 50-day moving average is $30.43 and its 200 day moving average is $28.17. Noah Holdings has a one year low of $21.33 and a one year high of $33.05. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of 16.02 and a beta of 2.37.

Noah Holdings announced that its Board of Directors has authorized a stock buyback program on Thursday, June 29th that authorizes the company to buyback $50.00 million in shares. This buyback authorization authorizes the asset manager to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s board of directors believes its shares are undervalued.

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Several hedge funds and other institutional investors have recently modified their holdings of NOAH. Russell Investments Group Ltd. acquired a new stake in shares of Noah Holdings during the second quarter worth $158,000. Neuberger Berman Group LLC acquired a new stake in shares of Noah Holdings during the first quarter worth $200,000. Aperio Group LLC acquired a new stake in shares of Noah Holdings during the second quarter worth $239,000. Airain ltd acquired a new stake in shares of Noah Holdings during the second quarter worth $245,000. Finally, Hershey Trust Co. acquired a new stake in shares of Noah Holdings during the second quarter worth $300,000. 41.56% of the stock is owned by hedge funds and other institutional investors.

About Noah Holdings

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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