Noodles & Company (NASDAQ:NDLS) Major Shareholder Mill Road Capital Iii, L.P. Buys 61,132 Shares

Noodles & Company (NASDAQ:NDLSGet Rating) major shareholder Mill Road Capital Iii, L.P. purchased 61,132 shares of Noodles & Company stock in a transaction that occurred on Tuesday, July 5th. The shares were bought at an average cost of $4.78 per share, for a total transaction of $292,210.96. Following the transaction, the insider now directly owns 324,922 shares of the company’s stock, valued at $1,553,127.16. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Mill Road Capital Iii, L.P. also recently made the following trade(s):

  • On Thursday, June 30th, Mill Road Capital Iii, L.P. bought 98,656 shares of Noodles & Company stock. The stock was acquired at an average cost of $4.66 per share, for a total transaction of $459,736.96.

NASDAQ:NDLS traded up $0.32 during trading hours on Tuesday, hitting $4.98. 269,688 shares of the company were exchanged, compared to its average volume of 302,706. The stock has a market capitalization of $228.26 million, a price-to-earnings ratio of -248.88, a price-to-earnings-growth ratio of 2.80 and a beta of 1.55. The company has a current ratio of 0.29, a quick ratio of 0.15 and a debt-to-equity ratio of 1.01. Noodles & Company has a one year low of $4.52 and a one year high of $13.44. The company has a fifty day simple moving average of $5.60 and a 200 day simple moving average of $6.79.

Noodles & Company (NASDAQ:NDLSGet Rating) last announced its earnings results on Wednesday, April 27th. The restaurant operator reported ($0.13) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.04. The business had revenue of $112.56 million during the quarter, compared to analyst estimates of $113.14 million. Noodles & Company had a positive return on equity of 4.04% and a negative net margin of 0.16%. During the same period last year, the company earned ($0.02) EPS. Equities research analysts predict that Noodles & Company will post 0.17 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the stock. Amalgamated Bank acquired a new stake in Noodles & Company during the 1st quarter worth about $40,000. Bank of America Corp DE grew its holdings in Noodles & Company by 25.3% during the 1st quarter. Bank of America Corp DE now owns 59,815 shares of the restaurant operator’s stock worth $357,000 after acquiring an additional 12,085 shares during the period. Goldman Sachs Group Inc. grew its holdings in Noodles & Company by 245.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 223,015 shares of the restaurant operator’s stock worth $1,331,000 after acquiring an additional 158,505 shares during the period. State Street Corp grew its holdings in Noodles & Company by 5.7% during the 1st quarter. State Street Corp now owns 647,202 shares of the restaurant operator’s stock worth $3,864,000 after acquiring an additional 35,104 shares during the period. Finally, Engineers Gate Manager LP grew its holdings in Noodles & Company by 65.9% during the 1st quarter. Engineers Gate Manager LP now owns 101,157 shares of the restaurant operator’s stock worth $604,000 after acquiring an additional 40,170 shares during the period. 93.04% of the stock is owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the company. StockNews.com cut Noodles & Company from a “buy” rating to a “hold” rating in a research note on Friday, May 6th. Truist Financial dropped their price target on Noodles & Company from $13.00 to $11.00 and set a “buy” rating for the company in a research note on Friday. TheStreet cut Noodles & Company from a “c-” rating to a “d” rating in a research note on Thursday, April 28th. Finally, Piper Sandler cut Noodles & Company from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $10.00 to $7.00 in a research note on Friday, March 18th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $11.17.

About Noodles & Company (Get Rating)

Noodles & Company, a restaurant concept company, develops and operates fast-casual restaurants. It offers cooked-to-order dishes, including noodles and pasta, soups, salads, and appetizers. As of December 28, 2021, the company operated 448 restaurants in 29 states, which included 372 company locations and 76 franchise locations.

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