Millennium Management LLC Sells 55,416 Shares of Noah Holdings Limited (NOAH)

Millennium Management LLC cut its holdings in Noah Holdings Limited (NYSE:NOAH) by 81.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 12,808 shares of the asset manager’s stock after selling 55,416 shares during the quarter. Millennium Management LLC’s holdings in Noah were worth $668,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. BlackRock Inc. grew its holdings in shares of Noah by 177.8% in the second quarter. BlackRock Inc. now owns 1,291,219 shares of the asset manager’s stock valued at $67,336,000 after purchasing an additional 826,436 shares in the last quarter. Hillhouse Capital Management Ltd. purchased a new position in shares of Noah in the second quarter valued at $46,515,000. Northern Trust Corp grew its holdings in shares of Noah by 1.3% in the first quarter. Northern Trust Corp now owns 114,239 shares of the asset manager’s stock valued at $5,392,000 after purchasing an additional 1,452 shares in the last quarter. Mckinley Capital Management LLC Delaware purchased a new position in shares of Noah in the second quarter valued at $4,707,000. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new position in shares of Noah in the second quarter valued at $4,489,000. 49.37% of the stock is owned by hedge funds and other institutional investors.

NYSE NOAH opened at $44.01 on Friday. The company has a quick ratio of 4.03, a current ratio of 4.03 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.47 billion, a price-to-earnings ratio of 21.02 and a beta of 1.94. Noah Holdings Limited has a 52 week low of $34.20 and a 52 week high of $69.56.

Noah (NYSE:NOAH) last posted its quarterly earnings data on Tuesday, August 28th. The asset manager reported $0.45 EPS for the quarter. The company had revenue of $121.26 million during the quarter. Noah had a net margin of 26.20% and a return on equity of 17.17%. Analysts predict that Noah Holdings Limited will post 2.45 EPS for the current fiscal year.

A number of research firms recently weighed in on NOAH. ValuEngine raised shares of Noah from a “sell” rating to a “hold” rating in a report on Thursday, November 1st. Zacks Investment Research lowered shares of Noah from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, October 31st. Deutsche Bank initiated coverage on shares of Noah in a research note on Wednesday, September 12th. They set a “buy” rating for the company. Finally, Nomura raised shares of Noah from a “neutral” rating to a “buy” rating in a research note on Thursday, July 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $53.50.

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About Noah

Noah Holdings Limited, through its subsidiaries, operates as a wealth and asset management service provider with focus on wealth investment and asset allocation services for high net worth individuals and enterprises in the People's Republic of China. The company operates through three segments: Wealth Management, Asset Management, and Other Financial Service.

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Institutional Ownership by Quarter for Noah (NYSE:NOAH)

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