Noah Holdings (NYSE:NOAH) Receiving Somewhat Favorable News Coverage, Report Finds
News coverage about Noah Holdings (NYSE:NOAH) has been trending somewhat positive on Saturday, according to Accern Sentiment. The research group ranks the sentiment of media coverage by analyzing more than twenty million blog and news sources in real time. Accern ranks coverage of public companies on a scale of negative one to positive one, with scores nearest to one being the most favorable. Noah Holdings earned a daily sentiment score of 0.11 on Accern’s scale. Accern also assigned news stories about the asset manager an impact score of 46.4551316304281 out of 100, meaning that recent media coverage is somewhat unlikely to have an effect on the stock’s share price in the near future.
Several brokerages recently commented on NOAH. Zacks Investment Research downgraded shares of Noah Holdings from a “buy” rating to a “hold” rating in a report on Saturday, June 10th. BidaskClub downgraded shares of Noah Holdings from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 10th. Finally, ValuEngine downgraded shares of Noah Holdings from a “buy” rating to a “hold” rating in a report on Friday, June 2nd.
Shares of Noah Holdings (NOAH) traded down 0.03% during trading on Friday, reaching $30.65. 224,839 shares of the company’s stock were exchanged. The company has a 50 day moving average of $30.64 and a 200 day moving average of $27.27. The stock has a market cap of $1.73 billion, a P/E ratio of 18.15 and a beta of 2.33. Noah Holdings has a 12-month low of $21.33 and a 12-month high of $33.05.
Noah Holdings announced that its Board of Directors has authorized a share repurchase plan 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. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.
Noah Holdings Company Profile
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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