Noodles & Company (NASDAQ:NDLS) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. reduced its stake in Noodles & Company (NASDAQ:NDLS) by 2.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 202,505 shares of the restaurant operator’s stock after selling 4,300 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.46% of Noodles & Company worth $1,392,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NDLS. American International Group Inc. lifted its position in shares of Noodles & Company by 13.1% during the second quarter. American International Group Inc. now owns 19,108 shares of the restaurant operator’s stock worth $116,000 after purchasing an additional 2,206 shares during the last quarter. Bank of America Corp DE increased its stake in shares of Noodles & Company by 19.9% in the second quarter. Bank of America Corp DE now owns 18,675 shares of the restaurant operator’s stock valued at $113,000 after purchasing an additional 3,098 shares during the period. California Public Employees Retirement System increased its stake in shares of Noodles & Company by 4.8% in the third quarter. California Public Employees Retirement System now owns 72,398 shares of the restaurant operator’s stock valued at $497,000 after purchasing an additional 3,300 shares during the period. BNP Paribas Arbitrage SA increased its stake in shares of Noodles & Company by 411.1% in the third quarter. BNP Paribas Arbitrage SA now owns 7,758 shares of the restaurant operator’s stock valued at $53,000 after purchasing an additional 6,240 shares during the period. Finally, New York State Common Retirement Fund increased its stake in shares of Noodles & Company by 76.2% during the third quarter. New York State Common Retirement Fund now owns 28,900 shares of the restaurant operator’s stock valued at $199,000 after acquiring an additional 12,500 shares during the period. Hedge funds and other institutional investors own 64.68% of the company’s stock.

Shares of NDLS opened at $7.90 on Friday. The firm has a market capitalization of $350.54 million, a PE ratio of -17.17 and a beta of 1.16. The company’s 50-day moving average is $7.85 and its 200-day moving average is $7.29. Noodles & Company has a fifty-two week low of $3.14 and a fifty-two week high of $9.31. The company has a debt-to-equity ratio of 1.25, a current ratio of 0.42 and a quick ratio of 0.26.

Noodles & Company (NASDAQ:NDLS) last released its quarterly earnings results on Wednesday, October 28th. The restaurant operator reported $0.01 EPS for the quarter. Noodles & Company had a negative net margin of 5.15% and a negative return on equity of 21.18%. The business had revenue of $105.98 million for the quarter, compared to analyst estimates of $106.31 million. Analysts predict that Noodles & Company will post -0.22 earnings per share for the current fiscal year.

A number of equities analysts recently commented on the stock. BMO Capital Markets raised their price objective on shares of Noodles & Company from $7.00 to $8.00 and gave the stock a “market perform” rating in a research note on Thursday, October 29th. ValuEngine downgraded shares of Noodles & Company from a “buy” rating to a “hold” rating in a report on Monday, December 7th. Zacks Investment Research downgraded shares of Noodles & Company from a “hold” rating to a “sell” rating in a report on Thursday, December 24th. BidaskClub downgraded shares of Noodles & Company from a “buy” rating to a “hold” rating in a report on Thursday, October 29th. Finally, Piper Sandler boosted their price objective on shares of Noodles & Company from $7.00 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, October 29th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $9.05.

In other news, insider Holdings Ll Catterton-Noodles sold 1,000,000 shares of Noodles & Company stock in a transaction on Tuesday, December 1st. The shares were sold at an average price of $7.50, for a total value of $7,500,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Kathryn Rae Lockhart sold 3,723 shares of the business’s stock in a transaction on Thursday, November 19th. The shares were sold at an average price of $7.60, for a total transaction of $28,294.80. Following the sale, the chief accounting officer now owns 41,824 shares of the company’s stock, valued at approximately $317,862.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 1,006,022 shares of company stock worth $7,548,304. 1.30% of the stock is currently owned by corporate insiders.

About Noodles & Company

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 December 31, 2019, the company operated 389 company-owned and 68 franchised restaurants in 29 states, and the District of Columbia.

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Institutional Ownership by Quarter for Noodles & Company (NASDAQ:NDLS)

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