Noah (NYSE:NOAH) Shares Cross Above 200-Day Moving Average – Here’s Why

by · The Cerbat Gem

Noah Holdings Ltd. (NYSE:NOAH – Get Free Report) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $10.59 and traded as high as $12.14. Noah shares last traded at $11.96, with a volume of 42,956 shares.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NOAH shares. JPMorgan Chase & Co. raised shares of Noah from a “neutral” rating to an “overweight” rating and set a $11.50 price objective for the company in a research report on Wednesday, April 9th. UBS Group reissued a “neutral” rating and issued a $11.50 price objective on shares of Noah in a research report on Friday, March 28th. Finally, Wall Street Zen lowered shares of Noah from a “buy” rating to a “hold” rating in a research report on Thursday, March 20th.

Check Out Our Latest Stock Report on NOAH

Noah Price Performance

The business’s 50-day moving average price is $11.03 and its two-hundred day moving average price is $10.59. The firm has a market cap of $791.06 million, a price-to-earnings ratio of 12.32 and a beta of 0.88.

Noah (NYSE:NOAH – Get Free Report) last released its earnings results on Wednesday, May 28th. The asset manager reported $0.33 earnings per share (EPS) for the quarter. Noah had a net margin of 19.22% and a return on equity of 5.62%. The firm had revenue of $84.69 million during the quarter. As a group, sell-side analysts forecast that Noah Holdings Ltd. will post 0.93 earnings per share for the current year.

Noah Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, August 1st. Investors of record on Thursday, July 3rd will be issued a $1.1572 dividend. The ex-dividend date of this dividend is Thursday, July 3rd. This represents a yield of 8.3%. Noah’s payout ratio is 117.53%.

Institutional Investors Weigh In On Noah

Institutional investors have recently bought and sold shares of the stock. Connor Clark & Lunn Investment Management Ltd. grew its stake in Noah by 113.0% during the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 48,216 shares of the asset manager’s stock worth $565,000 after buying an additional 25,578 shares during the period. American Century Companies Inc. grew its stake in Noah by 51.8% during the fourth quarter. American Century Companies Inc. now owns 139,946 shares of the asset manager’s stock worth $1,639,000 after buying an additional 47,761 shares during the period. Sei Investments Co. purchased a new stake in Noah during the fourth quarter worth approximately $167,000. Arrowstreet Capital Limited Partnership grew its stake in Noah by 12.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 185,996 shares of the asset manager’s stock worth $2,178,000 after buying an additional 21,178 shares during the period. Finally, O Shaughnessy Asset Management LLC grew its stake in Noah by 167.6% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 34,273 shares of the asset manager’s stock worth $401,000 after buying an additional 21,464 shares during the period. 42.67% of the stock is currently owned by hedge funds and other institutional investors.

About Noah

(Get Free Report)

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.

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