Noah (NYSE:NOAH) Sees Large Volume Increase – Time to Buy?

Shares of Noah Holdings Limited (NYSE:NOAH) saw strong trading volume on Friday . 89,088 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 82,712 shares.The stock last traded at $10.60 and had previously closed at $10.77.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the stock. StockNews.com upgraded shares of Noah from a “hold” rating to a “buy” rating in a research note on Thursday, January 16th. UBS Group cut Noah from a “buy” rating to a “neutral” rating and set a $13.00 price objective for the company. in a research note on Thursday, October 24th. Finally, Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 target price on the stock. in a research note on Friday, November 29th.

Noah Price Performance

The business’s fifty day moving average price is $11.35 and its two-hundred day moving average price is $10.64. The stock has a market capitalization of $703.24 million, a PE ratio of 9.11 and a beta of 0.78.

Noah (NYSE:NOAH) last announced its quarterly earnings data on Tuesday, November 26th. The asset manager reported $0.30 earnings per share for the quarter. Noah had a return on equity of 6.43% and a net margin of 23.53%. As a group, equities research analysts anticipate that Noah Holdings Limited will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

A number of large investors have recently modified their holdings of the company. FMR LLC acquired a new position in Noah during the third quarter worth approximately $8,895,000. Franklin Resources Inc. raised its position in Noah by 10.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,786,627 shares of the asset manager’s stock valued at $24,441,000 after purchasing an additional 167,685 shares during the last quarter. First Beijing Investment Ltd acquired a new stake in Noah during the 3rd quarter worth $1,531,000. Dimensional Fund Advisors LP grew its position in Noah by 50.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 255,606 shares of the asset manager’s stock worth $2,472,000 after purchasing an additional 85,771 shares during the last quarter. Finally, AQR Capital Management LLC purchased a new stake in shares of Noah in the second quarter valued at about $615,000. 42.67% of the stock is owned by hedge funds and other institutional investors.

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.