Noodles & Co (NDLS) Holdings Boosted by Eidelman Virant Capital

Eidelman Virant Capital raised its holdings in shares of Noodles & Co (NASDAQ:NDLS) by 9.7% in the 3rd quarter, HoldingsChannel reports. The fund owned 784,696 shares of the restaurant operator’s stock after purchasing an additional 69,405 shares during the period. Noodles & Co accounts for approximately 4.7% of Eidelman Virant Capital’s investment portfolio, making the stock its 2nd largest holding. Eidelman Virant Capital’s holdings in Noodles & Co were worth $9,494,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of NDLS. Tenzing Global Management LLC increased its holdings in Noodles & Co by 78.3% during the 2nd quarter. Tenzing Global Management LLC now owns 835,000 shares of the restaurant operator’s stock valued at $10,271,000 after acquiring an additional 366,588 shares in the last quarter. Hennessy Advisors Inc. purchased a new stake in shares of Noodles & Co during the third quarter worth about $3,684,000. Russell Investments Group Ltd. purchased a new stake in shares of Noodles & Co during the first quarter worth about $2,291,000. Intrinsic Edge Capital Management LLC purchased a new stake in shares of Noodles & Co during the second quarter worth about $2,460,000. Finally, EAM Global Investors LLC purchased a new stake in shares of Noodles & Co during the second quarter worth about $1,460,000. Hedge funds and other institutional investors own 61.82% of the company’s stock.

In related news, EVP Melissa Heidman sold 4,315 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $12.00, for a total value of $51,780.00. Following the completion of the sale, the executive vice president now directly owns 24,740 shares in the company, valued at $296,880. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO David James Boennighausen sold 43,096 shares of the business’s stock in a transaction that occurred on Monday, August 27th. The shares were sold at an average price of $11.52, for a total transaction of $496,465.92. Following the completion of the sale, the chief executive officer now owns 118,261 shares of the company’s stock, valued at $1,362,366.72. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,448,909 shares of company stock valued at $34,384,069. 50.52% of the stock is owned by insiders.

NDLS has been the subject of a number of recent research reports. UBS Group lifted their price target on shares of Noodles & Co from $4.00 to $10.00 and gave the stock a “$11.80” rating in a report on Thursday, July 19th. Citigroup lifted their price target on shares of Noodles & Co from $9.00 to $13.50 and gave the stock a “buy” rating in a report on Thursday, June 21st. ValuEngine downgraded shares of Noodles & Co from a “strong-buy” rating to a “buy” rating in a report on Friday, September 7th. BidaskClub upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating in a report on Friday, August 24th. Finally, Zacks Investment Research upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating and set a $14.00 price target for the company in a report on Sunday, July 15th. Four research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Noodles & Co currently has a consensus rating of “Buy” and a consensus target price of $12.17.

Shares of NASDAQ NDLS traded up $0.04 during midday trading on Wednesday, reaching $13.27. 10,839 shares of the stock were exchanged, compared to its average volume of 304,026. The company has a market cap of $499.71 million, a PE ratio of -653.50, a price-to-earnings-growth ratio of 34.57 and a beta of -0.58. Noodles & Co has a 52-week low of $3.95 and a 52-week high of $13.50. The company has a debt-to-equity ratio of 2.40, a current ratio of 0.52 and a quick ratio of 0.29.

Noodles & Co (NASDAQ:NDLS) last released its earnings results on Wednesday, July 18th. The restaurant operator reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). Noodles & Co had a negative net margin of 4.03% and a negative return on equity of 0.45%. The company had revenue of $117.40 million during the quarter, compared to analysts’ expectations of $114.16 million. During the same quarter in the previous year, the firm posted $0.01 earnings per share. Noodles & Co’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, analysts anticipate that Noodles & Co will post 0.04 EPS for the current year.

About Noodles & Co

Noodles & Company develops and operates fast casual restaurants in the United States. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, sandwiches, and appetizers. As of January 2, 2018, the company operated 412 company-owned and 66 franchised restaurants in 29 states, the District of Columbia.

Read More: What is the NASDAQ?

Want to see what other hedge funds are holding NDLS? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Noodles & Co (NASDAQ:NDLS).

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

Receive News & Ratings for Noodles & Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Noodles & Co and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply