Traders Buy Large Volume of Noodles & Co Call Options (NDLS)

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Noodles & Co (NASDAQ:NDLS) saw unusually large options trading activity on Monday. Traders acquired 1,193 call options on the stock. This represents an increase of 975% compared to the average volume of 111 call options.

In other Noodles & Co news, major shareholder Mill Road Capital Ii, L.P. sold 387,463 shares of the company’s stock in a transaction that occurred on Tuesday, July 31st. The stock was sold at an average price of $9.50, for a total value of $3,680,898.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Melissa Heidman sold 4,315 shares of the company’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $12.00, for a total value of $51,780.00. Following the completion of the sale, the executive vice president now directly owns 24,740 shares of the company’s stock, valued at approximately $296,880. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,455,783 shares of company stock worth $34,473,431. 50.52% of the stock is owned by company insiders.

Several large investors have recently added to or reduced their stakes in NDLS. GSA Capital Partners LLP purchased a new stake in shares of Noodles & Co during the second quarter valued at approximately $175,000. Solstein Capital LLC purchased a new stake in shares of Noodles & Co during the second quarter valued at approximately $197,000. Macquarie Group Ltd. purchased a new stake in shares of Noodles & Co during the second quarter valued at approximately $200,000. Dimensional Fund Advisors LP purchased a new stake in shares of Noodles & Co during the second quarter valued at approximately $250,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in shares of Noodles & Co during the second quarter valued at approximately $300,000. 62.56% of the stock is owned by hedge funds and other institutional investors.

NDLS has been the subject of several research reports. UBS Group upped their target price on Noodles & Co from $4.00 to $10.00 and gave the stock a “$11.80” rating in a research note on Thursday, July 19th. ValuEngine lowered Noodles & Co from a “strong-buy” rating to a “buy” rating in a research note on Friday, September 7th. BidaskClub raised Noodles & Co from a “hold” rating to a “buy” rating in a research note on Friday, August 24th. Zacks Investment Research raised Noodles & Co from a “hold” rating to a “buy” rating and set a $14.00 target price for the company in a research note on Sunday, July 15th. Finally, Citigroup cut their target price on Noodles & Co from $13.50 to $11.50 and set a “buy” rating for the company in a research note on Wednesday, August 8th. Three analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $12.33.

NASDAQ:NDLS opened at $12.59 on Tuesday. The company has a market cap of $508.80 million, a PE ratio of -629.50, a P/E/G ratio of 30.17 and a beta of -0.58. Noodles & Co has a fifty-two week low of $3.95 and a fifty-two week high of $13.50. The company has a quick ratio of 0.29, a current ratio of 0.52 and a debt-to-equity ratio of 2.40.

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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