First Heartland Consultants Inc. Invests $80,000 in Noodles & Company (NASDAQ:NDLS)

Posted by on Mar 24th, 2023

First Heartland Consultants Inc. purchased a new position in Noodles & Company (NASDAQ:NDLS – Get Rating) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 14,590 shares of the restaurant operator’s stock, valued at approximately $80,000.

Other institutional investors also recently made changes to their positions in the company. ExodusPoint Capital Management LP purchased a new stake in shares of Noodles & Company in the third quarter valued at $58,000. SG Americas Securities LLC purchased a new stake in shares of Noodles & Company in the third quarter valued at $63,000. MetLife Investment Management LLC grew its position in shares of Noodles & Company by 15.3% in the first quarter. MetLife Investment Management LLC now owns 14,584 shares of the restaurant operator’s stock valued at $87,000 after purchasing an additional 1,937 shares during the period. Jane Street Group LLC purchased a new stake in shares of Noodles & Company in the second quarter valued at $110,000. Finally, Algert Global LLC purchased a new stake in shares of Noodles & Company in the third quarter valued at $114,000. 89.08% of the stock is owned by institutional investors and hedge funds.

Noodles & Company Trading Down 3.1 %

Shares of NASDAQ NDLS opened at $4.95 on Friday. Noodles & Company has a 1-year low of $4.25 and a 1-year high of $6.78. The business has a 50-day moving average of $5.84 and a 200-day moving average of $5.52. The company has a quick ratio of 0.18, a current ratio of 0.34 and a debt-to-equity ratio of 1.20.

Noodles & Company (NASDAQ:NDLS – Get Rating) last issued its earnings results on Wednesday, March 8th. The restaurant operator reported $0.03 earnings per share for the quarter, hitting the consensus estimate of $0.03. Noodles & Company had a negative return on equity of 1.37% and a negative net margin of 0.65%. The company had revenue of $136.47 million during the quarter, compared to the consensus estimate of $135.98 million. During the same quarter in the prior year, the business earned ($0.05) earnings per share. The company’s revenue was up 18.9% compared to the same quarter last year. As a group, equities analysts anticipate that Noodles & Company will post 0.17 EPS for the current year.

Insider Transactions at Noodles & Company

In related news, major shareholder Mill Road Capital Iii, L.P. bought 100,000 shares of the firm’s stock in a transaction dated Friday, March 17th. The stock was bought at an average price of $4.64 per share, with a total value of $464,000.00. Following the completion of the transaction, the insider now directly owns 1,121,971 shares of the company’s stock, valued at $5,205,945.44. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. Stephens reaffirmed an “overweight” rating and issued a $7.00 price objective on shares of Noodles & Company in a research report on Thursday, March 9th. Benchmark reissued a “buy” rating and set a $10.00 price target on shares of Noodles & Company in a research report on Thursday, March 9th. Finally, StockNews.com downgraded Noodles & Company from a “buy” rating to a “hold” rating in a research report on Saturday, March 18th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $8.50.

Noodles & Company Company Profile

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Noodles & Co engages in the business of development and operation of fast-casual restaurants that serve noodle and pasta dishes, soups, salads, and appetizers. The firm also offers pleasant dining, pick-up, and delivery experiences by quickly preparing fresh food with friendly service. The company was founded by Aaron Kennedy in 1995 and is headquartered in Broomfield, CO.

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

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