Noah (NYSE:NOAH) Shares Down 6.6% – Time to Sell?

Noah Holdings Limited (NYSE:NOAH)’s share price dropped 6.6% during trading on Tuesday . The stock traded as low as $12.56 and last traded at $12.78. Approximately 158,362 shares changed hands during trading, a decline of 24% from the average daily volume of 207,400 shares. The stock had previously closed at $13.68.

Noah Price Performance

The company has a market capitalization of $830.02 million, a PE ratio of 7.16 and a beta of 0.78. The firm has a 50-day moving average of $9.49 and a 200 day moving average of $10.52.

Noah (NYSE:NOAH) last released its quarterly earnings data on Wednesday, August 28th. The asset manager reported $0.21 EPS for the quarter. Noah had a return on equity of 7.15% and a net margin of 26.81%. The company had revenue of $84.74 million for the quarter. Equities analysts expect that Noah Holdings Limited will post 1.37 EPS for the current year.

Noah declared that its board has authorized a stock buyback program on Wednesday, August 28th that allows the company to repurchase $50.00 million in outstanding shares. This repurchase authorization allows the asset manager to purchase up to 10.3% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Headlands Technologies LLC bought a new position in Noah in the first quarter worth approximately $30,000. Public Employees Retirement Association of Colorado bought a new position in Noah in the first quarter worth approximately $40,000. JBF Capital Inc. bought a new position in Noah in the second quarter worth approximately $106,000. Creative Planning bought a new position in Noah in the third quarter worth approximately $206,000. Finally, Quadrature Capital Ltd raised its position in Noah by 91.1% in the fourth quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock worth $273,000 after acquiring an additional 9,429 shares during the period. 42.67% of the stock is currently owned by 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.