Noah (NYSE:NOAH) Shares Gap Down to $13.66

Noah Holdings Limited (NYSE:NOAH) gapped down prior to trading on Thursday . The stock had previously closed at $13.66, but opened at $13.11. Noah shares last traded at $13.30, with a volume of 26,790 shares changing hands.

Noah Stock Down 5.1 %

The stock has a market cap of $857.80 million, a PE ratio of 7.63 and a beta of 0.76. The company’s fifty day moving average is $8.57 and its 200 day moving average is $10.36.

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

Noah declared that its Board of Directors has initiated a stock buyback program on Wednesday, August 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to repurchase up to 10.3% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On Noah

Institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC bought a new position in shares of Noah in the first quarter valued at $30,000. Public Employees Retirement Association of Colorado purchased a new position in shares of Noah during the 1st quarter valued at $40,000. JBF Capital Inc. purchased a new position in shares of Noah during the 2nd quarter valued at $106,000. Quadrature Capital Ltd grew its holdings in shares of Noah by 91.1% during the 4th quarter. Quadrature Capital Ltd now owns 19,779 shares of the asset manager’s stock valued at $273,000 after acquiring an additional 9,429 shares in the last quarter. Finally, Dodge & Cox grew its holdings in shares of Noah by 15.0% during the 4th quarter. Dodge & Cox now owns 26,840 shares of the asset manager’s stock valued at $371,000 after acquiring an additional 3,500 shares in the last quarter. 42.67% of the stock is currently 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.