Credit Suisse AG acquired a new stake in Noodles & Company (NASDAQ:NDLS) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 10,052 shares of the restaurant operator’s stock, valued at approximately $79,000.
Other institutional investors and hedge funds also recently modified their holdings of the company. Prospector Partners LLC lifted its holdings in shares of Noodles & Company by 18.1% during the fourth quarter. Prospector Partners LLC now owns 834,033 shares of the restaurant operator’s stock valued at $6,589,000 after acquiring an additional 127,850 shares during the period. Citigroup Inc. increased its holdings in Noodles & Company by 301.4% during the 4th quarter. Citigroup Inc. now owns 6,025 shares of the restaurant operator’s stock valued at $48,000 after purchasing an additional 4,524 shares in the last quarter. Rhumbline Advisers increased its position in Noodles & Company by 13.6% in the 4th quarter. Rhumbline Advisers now owns 37,410 shares of the restaurant operator’s stock valued at $296,000 after acquiring an additional 4,488 shares in the last quarter. Wells Fargo & Company MN raised its holdings in Noodles & Company by 16.7% during the 4th quarter. Wells Fargo & Company MN now owns 85,374 shares of the restaurant operator’s stock worth $675,000 after purchasing an additional 12,236 shares during the last quarter. Finally, Royce & Associates LP grew its stake in shares of Noodles & Company by 34.0% during the fourth quarter. Royce & Associates LP now owns 1,477,148 shares of the restaurant operator’s stock worth $11,669,000 after purchasing an additional 374,650 shares during the period. 70.39% of the stock is owned by institutional investors and hedge funds.
In related news, CEO David James Boennighausen sold 5,298 shares of the business’s stock in a transaction dated Monday, March 1st. The shares were sold at an average price of $10.12, for a total transaction of $53,615.76. Following the transaction, the chief executive officer now directly owns 318,901 shares in the company, valued at $3,227,278.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Melissa Heidman sold 6,201 shares of the company’s stock in a transaction dated Monday, March 1st. The stock was sold at an average price of $10.11, for a total transaction of $62,692.11. Following the completion of the sale, the executive vice president now directly owns 91,827 shares of the company’s stock, valued at $928,370.97. The disclosure for this sale can be found here. Insiders have sold 17,460 shares of company stock valued at $177,349 in the last quarter. 1.30% of the stock is currently owned by corporate insiders.
Noodles & Company (NASDAQ:NDLS) last posted its quarterly earnings data on Thursday, February 25th. The restaurant operator reported ($0.04) EPS for the quarter, missing the Zacks’ consensus estimate of $0.03 by ($0.07). Noodles & Company had a negative return on equity of 21.18% and a negative net margin of 5.15%. The company had revenue of $107.17 million during the quarter, compared to analyst estimates of $105.83 million. As a group, sell-side analysts forecast that Noodles & Company will post -0.23 earnings per share for the current fiscal year.
NDLS has been the subject of several recent research reports. Zacks Investment Research raised Noodles & Company from a “sell” rating to a “hold” rating in a research report on Wednesday, March 17th. Piper Sandler upgraded shares of Noodles & Company from a “neutral” rating to an “overweight” rating and upped their price target for the company from $9.00 to $14.00 in a research note on Tuesday, March 16th. Finally, TheStreet upgraded shares of Noodles & Company from a “d+” rating to a “c” rating in a research report on Wednesday, March 24th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $9.81.
Noodles & Company Profile
Noodles & Company develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of December 29, 2020, the company operated 378 company-owned and 76 franchised restaurants in 29 states, and the District of Columbia. Noodles & Company was founded in 1995 and is based in Broomfield, Colorado.
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