Noah (NYSE:NOAH) Sees Large Volume Increase – Should You Buy?

Noah Holdings Limited (NYSE:NOAH) shares saw unusually-high trading volume on Tuesday . Approximately 152,114 shares were traded during mid-day trading, a decline of 22% from the previous session’s volume of 194,513 shares.The stock last traded at $11.99 and had previously closed at $11.88.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price target on the stock. in a research report on Friday, November 29th. UBS Group lowered shares of Noah from a “buy” rating to a “neutral” rating and set a $13.00 target price on the stock. in a research report on Thursday, October 24th.

Noah Trading Up 0.3 %

The firm has a 50 day simple moving average of $12.23 and a two-hundred day simple moving average of $10.28. The company has a market capitalization of $789.00 million, a PE ratio of 10.18 and a beta of 0.80.

Noah declared that its Board of Directors has approved a share buyback program on Wednesday, August 28th that permits the company to buyback $50.00 million in shares. This buyback authorization permits the asset manager to buy up to 10.3% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Institutional Trading of Noah

Hedge funds and other institutional investors have recently made changes to their positions in the company. Signaturefd LLC raised its holdings in Noah by 2,218.7% during the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock worth $31,000 after purchasing an additional 2,374 shares in the last quarter. Blue Trust Inc. increased its position in Noah by 510.7% during the 3rd quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock worth $49,000 after purchasing an additional 3,330 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in shares of Noah during the 3rd quarter worth approximately $65,000. JBF Capital Inc. acquired a new stake in shares of Noah in the 2nd quarter valued at approximately $106,000. Finally, Wolverine Trading LLC purchased a new stake in shares of Noah in the third quarter valued at approximately $196,000. Hedge funds and other institutional investors 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.