Coatue Management LLC purchased a new position in Noodles & Co (NASDAQ:NDLS) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 15,581 shares of the restaurant operator’s stock, valued at approximately $94,000.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Citigroup Inc. grew its holdings in Noodles & Co by 41.9% in the first quarter. Citigroup Inc. now owns 8,125 shares of the restaurant operator’s stock worth $38,000 after purchasing an additional 2,401 shares during the period. BNP Paribas Arbitrage SA grew its stake in shares of Noodles & Co by 120.1% in the 1st quarter. BNP Paribas Arbitrage SA now owns 8,863 shares of the restaurant operator’s stock worth $42,000 after buying an additional 4,837 shares during the last quarter. SG Americas Securities LLC bought a new position in Noodles & Co during the 1st quarter valued at approximately $49,000. Tudor Investment Corp Et Al bought a new position in Noodles & Co during the 1st quarter valued at approximately $72,000. Finally, Athanor Capital LP purchased a new position in Noodles & Co during the second quarter valued at $77,000. 69.87% of the stock is owned by institutional investors.
In other Noodles & Co news, insider Holdings Ll Catterton-Noodles sold 1,435,000 shares of the company’s stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $7.85, for a total value of $11,264,750.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 1.30% of the stock is currently owned by insiders.
Several research analysts have recently issued reports on the stock. BidaskClub downgraded shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 27th. Zacks Investment Research upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating and set a $8.25 target price for the company in a research report on Saturday, August 8th. ValuEngine upgraded Noodles & Co from a “hold” rating to a “buy” rating in a research report on Monday, June 1st. TheStreet raised shares of Noodles & Co from a “d+” rating to a “c-” rating in a research note on Thursday, August 20th. Finally, SunTrust Banks reissued a “buy” rating and issued a $9.00 price target on shares of Noodles & Co in a report on Thursday, June 18th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $9.31.
Shares of NDLS traded down $0.05 during mid-day trading on Friday, hitting $7.72. The company’s stock had a trading volume of 198,343 shares, compared to its average volume of 378,638. The company’s 50-day moving average is $7.46 and its 200-day moving average is $6.21. Noodles & Co has a 52-week low of $3.14 and a 52-week high of $9.31. The company has a current ratio of 1.27, a quick ratio of 1.12 and a debt-to-equity ratio of 9.98. The firm has a market capitalization of $342.64 million, a price-to-earnings ratio of -20.86 and a beta of 0.94.
Noodles & Co (NASDAQ:NDLS) last released its quarterly earnings results on Thursday, August 6th. The restaurant operator reported ($0.18) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.03. Noodles & Co had a negative return on equity of 10.90% and a negative net margin of 3.94%. The business had revenue of $80.20 million for the quarter, compared to analysts’ expectations of $79.61 million. During the same quarter in the prior year, the firm posted $0.05 EPS. The company’s revenue was down 33.3% compared to the same quarter last year. As a group, sell-side analysts predict that Noodles & Co will post -0.22 earnings per share for the current fiscal year.
Noodles & Co Profile
Noodles & Company develops and operates fast-casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of January 1, 2019, the company operated 394 company-owned and 65 franchised restaurants in 29 states, and the District of Columbia.
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