Noah Holdings Ltd. $NOAH is Platinum Investment Management Ltd.’s 6th Largest Position

Platinum Investment Management Ltd. decreased its position in Noah Holdings Ltd. (NYSE:NOAH) by 17.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,058,912 shares of the asset manager’s stock after selling 231,373 shares during the period. Noah makes up about 2.5% of Platinum Investment Management Ltd.’s portfolio, making the stock its 6th biggest holding. Platinum Investment Management Ltd. owned about 1.58% of Noah worth $10,631,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in Noah during the 2nd quarter worth about $14,128,000. Nuveen LLC grew its position in Noah by 35.0% during the 4th quarter. Nuveen LLC now owns 454,675 shares of the asset manager’s stock worth $4,565,000 after purchasing an additional 117,971 shares during the period. Prescott Group Capital Management L.L.C. grew its position in Noah by 7.4% during the 4th quarter. Prescott Group Capital Management L.L.C. now owns 444,967 shares of the asset manager’s stock worth $4,467,000 after purchasing an additional 30,691 shares during the period. Dimensional Fund Advisors LP grew its position in Noah by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 428,178 shares of the asset manager’s stock worth $4,301,000 after purchasing an additional 4,487 shares during the period. Finally, UBS Group AG grew its position in Noah by 25.1% during the 3rd quarter. UBS Group AG now owns 176,462 shares of the asset manager’s stock worth $2,045,000 after purchasing an additional 35,378 shares during the period. Hedge funds and other institutional investors own 42.67% of the company’s stock.

Noah Stock Performance

Shares of NOAH opened at $10.32 on Friday. Noah Holdings Ltd. has a fifty-two week low of $9.53 and a fifty-two week high of $12.84. The company has a market capitalization of $696.08 million, a P/E ratio of 9.56 and a beta of 0.80. The business’s 50-day moving average is $10.30 and its two-hundred day moving average is $10.78.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Zacks Research raised Noah from a “strong sell” rating to a “hold” rating in a research report on Monday, May 25th. Weiss Ratings raised Noah from a “hold (c-)” rating to a “hold (c)” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Noah from a “buy” rating to a “hold” rating in a research report on Sunday, June 7th. Finally, JPMorgan Chase & Co. cut their price target on Noah from $12.00 to $11.50 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Four research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $10.75.

About Noah

Noah Holdings Limited is a China-based wealth management and asset management firm specializing in tailored advisory services for high-net-worth individuals, family offices and select institutional clients. The company offers a broad range of investment solutions that draw on its deep market research and partner network to provide access to both onshore and offshore products. Noah’s business model centers on delivering structured investment products, portfolio management services and family wealth planning solutions designed to meet the evolving needs of affluent clients in China and beyond.

Noah’s main service lines include discretionary portfolio management, fund distribution, private equity and venture capital fund platforms, and alternative investment strategies such as real estate and insurance-linked products.