Crescent Grove Advisors LLC purchased a new position in shares of Noodles & Company (NASDAQ:NDLS) during the second quarter, according to its most recent disclosure with the SEC. The fund purchased 116,641 shares of the restaurant operator’s stock, valued at approximately $455,000. Crescent Grove Advisors LLC owned approximately 0.28% of Noodles & at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Schwab Charles Investment Management Inc. increased its position in shares of Noodles & by 52.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 26,856 shares of the restaurant operator’s stock worth $105,000 after buying an additional 9,287 shares in the last quarter. KCG Holdings Inc. increased its position in shares of Noodles & by 91.8% in the first quarter. KCG Holdings Inc. now owns 58,108 shares of the restaurant operator’s stock worth $334,000 after buying an additional 27,818 shares in the last quarter. Spark Investment Management LLC acquired a new position in shares of Noodles & during the second quarter worth approximately $226,000. Creative Planning increased its position in shares of Noodles & by 48,000.0% in the second quarter. Creative Planning now owns 72,150 shares of the restaurant operator’s stock worth $281,000 after buying an additional 72,000 shares in the last quarter. Finally, Renaissance Technologies LLC increased its position in shares of Noodles & by 26.2% in the first quarter. Renaissance Technologies LLC now owns 499,400 shares of the restaurant operator’s stock worth $2,872,000 after buying an additional 103,600 shares in the last quarter. 55.13% of the stock is owned by hedge funds and other institutional investors.
Noodles & Company (NASDAQ NDLS) opened at 3.75 on Friday. The company’s market cap is $153.80 million. Noodles & Company has a 12-month low of $3.16 and a 12-month high of $7.26. The firm’s 50-day moving average price is $4.02 and its 200-day moving average price is $4.47.
Noodles & (NASDAQ:NDLS) last posted its quarterly earnings data on Thursday, August 10th. The restaurant operator reported $0.01 EPS for the quarter, missing analysts’ consensus estimates of $0.02 by $0.01. The business had revenue of $112.79 million during the quarter, compared to the consensus estimate of $113.98 million. Noodles & had a negative return on equity of 10.28% and a negative net margin of 17.42%. The company’s revenue for the quarter was down 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.03) earnings per share.
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A number of brokerages recently commented on NDLS. Jefferies Group LLC reissued a “hold” rating and issued a $4.50 price target (down previously from $5.50) on shares of Noodles & in a report on Friday. Wedbush reissued a “hold” rating on shares of Noodles & in a report on Friday. BMO Capital Markets reissued a “hold” rating and issued a $5.00 price target on shares of Noodles & in a report on Thursday, June 22nd. Zacks Investment Research downgraded Noodles & from a “hold” rating to a “sell” rating in a report on Friday, July 21st. Finally, ValuEngine downgraded Noodles & from a “sell” rating to a “strong sell” rating in a report on Thursday, May 11th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $4.81.
In other news, Director Robert M. Hartnett purchased 72,000 shares of the stock in a transaction that occurred on Thursday, June 15th. The shares were purchased at an average cost of $3.55 per share, for a total transaction of $255,600.00. Following the completion of the purchase, the director now directly owns 61,682 shares of the company’s stock, valued at approximately $218,971.10. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 52.67% of the company’s stock.
About Noodles &
Noodles & Company develops and operates fast casual restaurants. The Company’s menu includes a range of cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches and appetizers. The Company has approximately 490 restaurants, including 420 Company-owned and 70 franchised locations, across 40 states, the District of Columbia and one Canadian province.
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