Noah (NYSE:NOAH) Sees Unusually-High Trading Volume – Here’s What Happened

Noah Holdings Ltd. (NYSE:NOAH) shares saw unusually-strong trading volume on Tuesday . Approximately 118,442 shares changed hands during trading, a decline of 19% from the previous session’s volume of 146,863 shares.The stock last traded at $10.63 and had previously closed at $10.86.

Wall Street Analysts Forecast Growth

NOAH has been the subject of a number of recent analyst reports. Weiss Ratings reiterated a “hold (c-)” rating on shares of Noah in a report on Thursday. Wall Street Zen downgraded shares of Noah from a “buy” rating to a “hold” rating in a research report on Saturday, September 20th. One equities research analyst has rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $12.00.

Noah Stock Down 0.5%

The company has a market cap of $702.48 million, a P/E ratio of 9.44 and a beta of 0.88. The business has a fifty day moving average price of $11.49 and a 200-day moving average price of $11.48.

Noah (NYSE:NOAH) last posted its quarterly earnings data on Wednesday, August 27th. The asset manager reported $0.37 earnings per share (EPS) for the quarter. The firm had revenue of $87.87 million during the quarter, compared to the consensus estimate of $86.31 million. Noah had a net margin of 22.17% and a return on equity of 6.44%. As a group, research analysts expect that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Institutional Trading of Noah

Large investors have recently modified their holdings of the stock. Russell Investments Group Ltd. lifted its position in Noah by 1,440.2% during the first quarter. Russell Investments Group Ltd. now owns 32,376 shares of the asset manager’s stock worth $328,000 after purchasing an additional 30,274 shares during the period. Acadian Asset Management LLC lifted its position in shares of Noah by 61.9% during the 1st quarter. Acadian Asset Management LLC now owns 696,967 shares of the asset manager’s stock worth $6,563,000 after buying an additional 266,602 shares during the last quarter. Hsbc Holdings PLC boosted its stake in Noah by 198.3% in the first quarter. Hsbc Holdings PLC now owns 38,002 shares of the asset manager’s stock valued at $362,000 after buying an additional 25,263 shares in the last quarter. Y Intercept Hong Kong Ltd bought a new position in Noah in the second quarter valued at about $413,000. Finally, Nuveen LLC acquired a new position in Noah during the first quarter worth about $350,000. 42.67% of the stock is owned by institutional investors and hedge funds.

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 Services.