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Noah Holdings Down Double Digits- Why? (NOAH)

2489526032_1c972d0547_bShares of Noah Holdings Limited (NYSE: NOAH) are down more than 10 percent Monday after an analyst downgrade. JP Morgan (NYSE: JPM) downgraded the stock from “Neutral” from “Overweight” on expectations of a softer second half 2013 along with valuation. However, it’s price target was raised from $9.50 to $16.

Noah Holdings is a $806 million company which, year to date, is up 177 percent and trades an average of 322,000 shares.

Company Profile:

Noah Holdings Limited, through its subsidiaries, operates as a wealth management service provider with focus on distributing wealth management products in the People’s Republic of China. The company’s distributed products include fixed income products, including collateralized fixed income products sponsored by trust companies and real estate funds managed that provide investors with fixed rates of return; private equity funds products comprising investments in various private equity funds sponsored by domestic and internal fund management firms, funds of funds and real estate funds, and the underlying assets that are portfolios of equity investments in unlisted private companies; and other products, such as mutual fund products, private securities investment funds that are privately raised funds investing in publicly traded stocks, and investment-linked insurance products.

It serves high net worth individuals; enterprises affiliated with high net worth individuals; and wholesale clients, primarily local commercial banks or branches of national commercial banks that distribute wealth management products to their own clients. Noah Holdings Limited was founded in 2005 and is based in Shanghai, the People’s Republic of China.

[stock-tools exchange="NYSE" symbol="NOAH" image_height="230" image_width="350"]

Disclosure: At the time of this writing, the author had no position in the company mentioned.

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