Noah (NYSE:NOAH) Shares Gap Down – Time to Sell?

Noah Holdings Limited (NYSE:NOAH) gapped down before the market opened on Monday . The stock had previously closed at $12.72, but opened at $12.45. Noah shares last traded at $12.80, with a volume of 5,716 shares.

Noah Price Performance

The company has a market capitalization of $870.36 million, a price-to-earnings ratio of 7.35 and a beta of 0.78. The firm’s fifty day moving average price is $10.09 and its 200-day moving average price is $10.52.

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

Noah declared that its board has initiated a stock buyback plan on Wednesday, August 28th that allows the company to buyback $50.00 million in shares. This buyback authorization allows the asset manager to reacquire up to 10.3% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Trading of Noah

Several institutional investors have recently modified their holdings of NOAH. Headlands Technologies LLC acquired a new position in Noah during the 1st quarter worth about $30,000. Signaturefd LLC raised its position in shares of Noah by 2,218.7% during the third quarter. Signaturefd LLC now owns 2,481 shares of the asset manager’s stock worth $31,000 after acquiring an additional 2,374 shares during the last quarter. Public Employees Retirement Association of Colorado acquired a new position in shares of Noah in the first quarter worth approximately $40,000. Blue Trust Inc. boosted its holdings in Noah by 510.7% in the third quarter. Blue Trust Inc. now owns 3,982 shares of the asset manager’s stock valued at $49,000 after acquiring an additional 3,330 shares during the last quarter. Finally, JBF Capital Inc. acquired a new stake in Noah during the 2nd quarter valued at approximately $106,000. Institutional investors own 42.67% of the company’s stock.

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.