Noah (NYSE:NOAH) Stock Price Up 6.7% – Here’s What Happened

Noah Holdings Limited (NYSE:NOAH) traded up 6.7% on Monday . The stock traded as high as $11.17 and last traded at $11.34. 60,232 shares changed hands during trading, a decline of 68% from the average session volume of 186,475 shares. The stock had previously closed at $10.63.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NOAH shares. Morgan Stanley cut shares of 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. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $12.00 price target (up previously from $10.50) on shares of Noah in a research note on Wednesday, March 5th. Finally, StockNews.com raised Noah from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th.

Noah Price Performance

The company has a market cap of $754.61 million, a P/E ratio of 9.78 and a beta of 0.71. The firm’s 50-day moving average is $10.98 and its two-hundred day moving average is $11.36.

Institutional Trading of Noah

Several hedge funds have recently made changes to their positions in the business. FIL Ltd increased its stake in Noah by 11.3% during the fourth quarter. FIL Ltd now owns 4,260,790 shares of the asset manager’s stock worth $49,894,000 after acquiring an additional 432,599 shares during the last quarter. Franklin Resources Inc. raised its holdings in Noah by 9.4% during the 4th quarter. Franklin Resources Inc. now owns 1,955,360 shares of the asset manager’s stock valued at $22,897,000 after buying an additional 168,733 shares during the period. FMR LLC bought a new stake in Noah in the third quarter worth $8,895,000. Dimensional Fund Advisors LP boosted its stake in Noah by 9.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 391,159 shares of the asset manager’s stock worth $4,578,000 after buying an additional 34,350 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Noah by 12.8% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 185,996 shares of the asset manager’s stock worth $2,178,000 after purchasing an additional 21,178 shares during the last quarter. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

About Noah

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.