Noah (NYSE:NOAH) Shares Gap Down – Should You Sell?

Shares of Noah Holdings Limited (NYSE:NOAH) gapped down prior to trading on Wednesday . The stock had previously closed at $11.28, but opened at $10.65. Noah shares last traded at $10.48, with a volume of 84,394 shares trading hands.

Analyst Ratings Changes

A number of research analysts have weighed in on NOAH shares. StockNews.com lowered shares of Noah from a “buy” rating to a “hold” rating in a research note on Thursday, March 20th. Morgan Stanley lowered Noah from an “overweight” rating to an “equal weight” rating and set a $13.00 price objective on the stock. in a research note on Friday, November 29th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $12.00 target price (up from $10.50) on shares of Noah in a research note on Wednesday, March 5th.

Noah Stock Performance

The stock has a market cap of $688.04 million, a PE ratio of 8.91 and a beta of 0.71. The company’s 50-day moving average price is $11.07 and its 200 day moving average price is $11.45.

Noah (NYSE:NOAH) last announced its quarterly earnings results on Tuesday, March 25th. The asset manager reported $0.26 EPS for the quarter. The business had revenue of $89.31 million for the quarter, compared to analyst estimates of $102.07 million. Noah had a return on equity of 6.43% and a net margin of 23.53%. As a group, equities research analysts predict that Noah Holdings Limited will post 0.93 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Noah

A number of institutional investors and hedge funds have recently made changes to their positions in NOAH. Tower Research Capital LLC TRC raised its position in Noah by 1,188.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 2,371 shares of the asset manager’s stock valued at $28,000 after purchasing an additional 2,187 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of Noah by 18.1% in the fourth quarter. Public Employees Retirement System of Ohio now owns 19,085 shares of the asset manager’s stock valued at $223,000 after buying an additional 2,930 shares in the last quarter. Public Employees Retirement Association of Colorado purchased a new stake in shares of Noah in the 4th quarter valued at $39,000. Barclays PLC lifted its stake in Noah by 14.0% during the 4th quarter. Barclays PLC now owns 28,660 shares of the asset manager’s stock worth $335,000 after acquiring an additional 3,524 shares in the last quarter. Finally, Ballentine Partners LLC boosted its holdings in Noah by 16.7% during the 4th quarter. Ballentine Partners LLC now owns 27,565 shares of the asset manager’s stock valued at $323,000 after acquiring an additional 3,948 shares during the period. 42.67% of the stock is owned by hedge funds and other institutional investors.

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 Services.