Noah (NYSE:NOAH) Sees Strong Trading Volume

Noah Holdings Limited (NYSE:NOAH) shares saw strong trading volume on Monday . 232,763 shares traded hands during mid-day trading, an increase of 19% from the previous session’s volume of 195,758 shares.The stock last traded at $12.88 and had previously closed at $11.06.

Noah Price Performance

The firm has a market cap of $820.10 million, a price-to-earnings ratio of 6.98 and a beta of 0.76. The stock’s fifty day moving average price is $8.26 and its 200-day moving average price is $10.31.

Noah (NYSE:NOAH) last posted its quarterly earnings results on Wednesday, August 28th. The asset manager reported $0.21 EPS for the quarter. The business had revenue of $84.74 million during the quarter. Noah had a net margin of 26.81% and a return on equity of 7.15%. As a group, equities research analysts predict that Noah Holdings Limited will post 1.37 EPS for the current fiscal year.

Noah announced that its Board of Directors has authorized a stock repurchase plan on Wednesday, August 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 10.3% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Institutional Investors Weigh In On Noah

Hedge funds and other institutional investors have recently modified their holdings of the stock. Headlands Technologies LLC acquired a new stake in shares of Noah during the 1st quarter valued at about $30,000. Public Employees Retirement Association of Colorado acquired a new stake in Noah during the 1st quarter valued at $40,000. Dodge & Cox raised its position in Noah by 15.0% in the 4th quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock valued at $371,000 after purchasing an additional 3,500 shares during the last quarter. Quadrature Capital Ltd boosted its stake 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 purchasing an additional 9,429 shares in the last quarter. Finally, JBF Capital Inc. bought a new stake in shares of Noah during the second quarter worth $106,000. Institutional investors and hedge funds own 42.67% of the company’s stock.

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.