Noah (NYSE:NOAH) Trading Down 3.2% – Should You Sell?

Noah Holdings Limited (NYSE:NOAH) was down 3.2% during trading on Thursday . The stock traded as low as $11.33 and last traded at $11.33. 12,179 shares were traded during mid-day trading, a decline of 94% from the average daily volume of 194,511 shares. The stock had previously closed at $11.71.

Analyst Ratings Changes

NOAH has been the subject of several recent analyst reports. UBS Group cut Noah from a “buy” rating to a “neutral” rating and set a $13.00 price target for the company. in a research note on Thursday, October 24th. Morgan Stanley downgraded shares of Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research note on Friday, November 29th.

Noah Stock Down 3.8 %

The firm has a market cap of $745.62 million, a P/E ratio of 9.63 and a beta of 0.80. The business has a fifty day moving average of $12.12 and a 200 day moving average of $10.34.

Institutional Trading of Noah

Several hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in Noah by 10.4% in the third 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. Public Employees Retirement System of Ohio bought a new stake in Noah during the 3rd quarter worth approximately $199,000. Wolverine Trading LLC purchased a new position in Noah during the third quarter worth about $196,000. Point72 Asset Management L.P. purchased a new stake in shares of Noah during the 3rd quarter valued at $566,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Noah during the 3rd quarter worth $65,000. 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.