Noah (NYSE:NOAH) Releases Quarterly Earnings Results

Noah (NYSE:NOAH) announced its quarterly earnings data on Tuesday. The asset manager reported $0.47 EPS for the quarter, Zacks reports. The company had revenue of $74.64 million for the quarter. Noah had a net margin of 33.36% and a return on equity of 10.05%. During the same period last year, the company posted $0.31 earnings per share.

Noah Stock Down 3.6 %

Shares of NYSE NOAH opened at $11.43 on Friday. The firm’s 50-day moving average price is $11.41 and its 200-day moving average price is $12.19. Noah has a 52-week low of $9.90 and a 52-week high of $17.77. The company has a market cap of $749.92 million, a PE ratio of 5.60 and a beta of 1.00.

Institutional Investors Weigh In On Noah

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. boosted its position in Noah by 1,597.5% in the second quarter. JPMorgan Chase & Co. now owns 3,361 shares of the asset manager’s stock worth $47,000 after purchasing an additional 3,163 shares during the last quarter. Quantbot Technologies LP boosted its holdings in shares of Noah by 391.7% in the first quarter. Quantbot Technologies LP now owns 5,900 shares of the asset manager’s stock worth $138,000 after buying an additional 4,700 shares during the last quarter. Ethic Inc. bought a new stake in Noah during the first quarter valued at approximately $240,000. Creative Planning purchased a new stake in Noah during the fourth quarter valued at approximately $168,000. Finally, ExodusPoint Capital Management LP bought a new position in Noah in the second quarter worth approximately $251,000. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of Noah from a “strong-buy” rating to a “buy” rating in a report on Monday, March 18th.

About Noah

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 Businesses.