MYDA Advisors LLC purchased a new position in Noodles & Co (NASDAQ:NDLS) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 80,000 shares of the restaurant operator’s stock, valued at approximately $420,000. MYDA Advisors LLC owned approximately 0.20% of Noodles & Co as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. BlackRock Inc. lifted its stake in Noodles & Co by 3.2% in the 4th quarter. BlackRock Inc. now owns 840,837 shares of the restaurant operator’s stock worth $4,415,000 after purchasing an additional 26,022 shares in the last quarter. Eidelman Virant Capital lifted its stake in Noodles & Co by 117.5% in the 4th quarter. Eidelman Virant Capital now owns 809,170 shares of the restaurant operator’s stock worth $4,248,000 after purchasing an additional 437,170 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Noodles & Co by 79.3% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 53,121 shares of the restaurant operator’s stock worth $279,000 after purchasing an additional 23,496 shares in the last quarter. Salem Investment Counselors Inc. purchased a new stake in Noodles & Co in the 3rd quarter worth $1,327,000. Finally, Royce & Associates LP lifted its stake in Noodles & Co by 433.3% in the 3rd quarter. Royce & Associates LP now owns 200,000 shares of the restaurant operator’s stock worth $880,000 after purchasing an additional 162,500 shares in the last quarter. Institutional investors and hedge funds own 80.70% of the company’s stock.
Shares of Noodles & Co (NASDAQ NDLS) traded down $0.25 during midday trading on Wednesday, hitting $6.15. 189,060 shares of the stock traded hands, compared to its average volume of 85,249. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.57 and a quick ratio of 0.31. The stock has a market cap of $252.88, a PE ratio of -2.02, a price-to-earnings-growth ratio of 8.99 and a beta of -0.32. Noodles & Co has a 52-week low of $3.35 and a 52-week high of $7.40.
Several analysts have recently issued reports on the stock. BidaskClub upgraded shares of Noodles & Co from a “hold” rating to a “buy” rating in a research report on Friday, March 9th. Zacks Investment Research upgraded shares of Noodles & Co from a “sell” rating to a “hold” rating in a research report on Wednesday, January 10th. SunTrust Banks restated a “hold” rating and set a $6.00 target price on shares of Noodles & Co in a research report on Wednesday, January 3rd. Finally, Citigroup upped their target price on shares of Noodles & Co from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Monday, November 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $5.00.
Noodles & Co Profile
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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