Bank of New York Mellon Corp lowered its stake in shares of Noodles & Company (NASDAQ:NDLS) by 12.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 50,066 shares of the restaurant operator’s stock after selling 7,447 shares during the period. Bank of New York Mellon Corp owned about 0.18% of Noodles & worth $289,000 at the end of the most recent reporting period.
Separately, Renaissance Technologies LLC increased its stake in Noodles & by 132.5% in the fourth quarter. Renaissance Technologies LLC now owns 395,800 shares of the restaurant operator’s stock valued at $1,623,000 after buying an additional 225,600 shares in the last quarter. Institutional investors and hedge funds own 55.02% of the company’s stock.
Shares of Noodles & Company (NASDAQ:NDLS) traded up 1.35% on Friday, hitting $3.75. The company had a trading volume of 79,560 shares. Noodles & Company has a 52 week low of $3.16 and a 52 week high of $7.15. The firm’s 50 day moving average price is $4.02 and its 200-day moving average price is $4.45. The stock’s market capitalization is $154.16 million.
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NDLS has been the subject of several recent research reports. ValuEngine downgraded Noodles & from a “sell” rating to a “strong sell” rating in a report on Thursday, May 11th. Zacks Investment Research downgraded Noodles & from a “buy” rating to a “hold” rating in a report on Friday, April 28th. Piper Jaffray Companies restated a “sell” rating and set a $4.00 price objective on shares of Noodles & in a report on Friday, August 11th. Wedbush restated a “hold” rating and set a $5.50 price objective on shares of Noodles & in a report on Wednesday, May 10th. Finally, BMO Capital Markets restated a “hold” rating and set a $5.00 price objective on shares of Noodles & in a report on Thursday, June 22nd. Four research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. Noodles & has a consensus rating of “Hold” and an average price target of $4.72.
In other Noodles & news, Director Robert M. Hartnett bought 72,000 shares of the business’s stock in a transaction on Thursday, June 15th. The shares were acquired at an average cost of $3.55 per share, for a total transaction of $255,600.00. Following the purchase, the director now owns 61,682 shares in the company, valued at approximately $218,971.10. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 52.67% of the company’s stock.
Noodles & Company 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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