Hennessy Advisors Inc. Takes Position in Noodles & Co (NDLS)

Hennessy Advisors Inc. bought a new position in shares of Noodles & Co (NASDAQ:NDLS) during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund bought 304,500 shares of the restaurant operator’s stock, valued at approximately $3,684,000. Hennessy Advisors Inc. owned about 0.74% of Noodles & Co at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in NDLS. GSA Capital Partners LLP purchased a new position in Noodles & Co during the 2nd quarter worth $175,000. Solstein Capital LLC purchased a new position in Noodles & Co during the 2nd quarter worth $197,000. Macquarie Group Ltd. purchased a new stake in Noodles & Co during the 2nd quarter valued at about $200,000. Dimensional Fund Advisors LP purchased a new stake in Noodles & Co during the 2nd quarter valued at about $250,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Noodles & Co during the 2nd quarter valued at about $300,000. Hedge funds and other institutional investors own 61.82% of the company’s stock.

Several analysts have weighed in on the company. Citigroup boosted their price target on Noodles & Co from $11.50 to $15.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. UBS Group boosted their price target on Noodles & Co from $4.00 to $10.00 and gave the company a “$11.80” rating in a research note on Thursday, July 19th. BidaskClub upgraded Noodles & Co from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, June 26th. Zacks Investment Research upgraded Noodles & Co from a “hold” rating to a “buy” rating and set a $14.00 price target on the stock in a research note on Sunday, July 15th. Finally, ValuEngine downgraded Noodles & Co from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $10.67.

Noodles & Co stock opened at $11.39 on Friday. The company has a current ratio of 0.52, a quick ratio of 0.29 and a debt-to-equity ratio of 2.40. The stock has a market cap of $499.71 million, a price-to-earnings ratio of -569.50, a PEG ratio of 34.57 and a beta of -0.58. Noodles & Co has a fifty-two week low of $3.95 and a fifty-two week high of $13.30.

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

In other news, Director Robert M. Hartnett sold 9,652 shares of the business’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $11.51, for a total value of $111,094.52. Following the completion of the transaction, the director now owns 96,606 shares of the company’s stock, valued at approximately $1,111,935.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David James Boennighausen sold 43,096 shares of the business’s stock in a transaction dated Monday, August 27th. The shares were sold at an average price of $11.52, for a total value of $496,465.92. Following the completion of the transaction, the chief executive officer now directly owns 118,261 shares of the company’s stock, valued at approximately $1,362,366.72. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,448,909 shares of company stock worth $34,384,069. Company insiders own 50.52% of the company’s stock.

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.

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

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