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Noodles & Co
NDLS

64 hedge funds and large institutions have $109M invested in Noodles & Co in 2017 Q4 according to their latest regulatory filings, with 12 funds opening new positions, 27 increasing their positions, 10 reducing their positions, and 10 closing their positions.

New
Increased
Maintained
Reduced
Closed

170% more repeat investments, than reductions

Existing positions increased: 27 | Existing positions reduced: 10

20% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 10

2% more funds holding

Funds holding: 63 → 64 (+1)

3% more call options, than puts

Call options by funds: $385K | Put options by funds: $375K

0% more funds holding in top 10

Funds holding in top 10: 1 → 1 (0)

1.76% less ownership

Funds ownership: 8.34% → 6.58% (-1.8%)

6% less capital invested

Capital invested by funds: $116M → $109M (-$6.72M)

Holders
64
Holders Change
+1
Holders Change %
+1.59%
% of All Funds
1.45%
Holding in Top 10
1
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
0.02%
New
12
Increased
27
Reduced
10
Closed
10
Calls
$385K
Puts
$375K
Net Calls
+$10K
Net Calls Change
+$240K

Top Buyers

1
EVC
Eidelman Virant Capital
Missouri
+$2.09M
2
Vanguard Group
Vanguard Group
Pennsylvania
+$822K
3
Goldman Sachs
Goldman Sachs
New York
+$448K
4
AFS
Amtrust Financial Services
New York
+$264K
5
Millennium Management
Millennium Management
New York
+$227K

Top Sellers

1
Fidelity Investments
Fidelity Investments
Massachusetts
-$17.3M
2
SIC
Salem Investment Counselors
North Carolina
-$713K
3
Renaissance Technologies
Renaissance Technologies
New York
-$516K
4
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$435K
5
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$248K
Name Holding Trade Value Shares
Change 		Change in
Stake
MRCM
1
Mill Road Capital Management
Connecticut
$46.6M +$42.5M +1,109,155 New
Public Sector Pension Investment Board (PSP Investments)
2
Public Sector Pension Investment Board (PSP Investments)
Quebec, Canada
$35.5M +$46.1K +1,202 +0.1%
BlackRock
3
BlackRock
New York
$4.42M +$125K +3,253 +3%
EVC
4
Eidelman Virant Capital
Missouri
$4.25M +$2.09M +54,646 +118%
Vanguard Group
5
Vanguard Group
Pennsylvania
$3.85M +$822K +21,446 +31%
PP
6
Prospector Partners
Connecticut
$1.88M +$41.2K +1,075 +2%
BCM
7
Bridgeway Capital Management
Texas
$1.45M -$45.5K -1,188 -3%
RA
8
Royce & Associates
New York
$1.1M +$41.8K +1,090 +4%
State Street
9
State Street
Massachusetts
$974K +$60.4K +1,576 +7%
Northern Trust
10
Northern Trust
Illinois
$891K +$498 +13 +0.1%
SIC
11
Salem Investment Counselors
North Carolina
$839K -$713K -18,596 -48%
Renaissance Technologies
12
Renaissance Technologies
New York
$803K -$516K -13,463 -41%
Geode Capital Management
13
Geode Capital Management
Massachusetts
$795K -$30K -782 -4%
AFS
14
Amtrust Financial Services
New York
$761K +$264K +6,900 +61%
Goldman Sachs
15
Goldman Sachs
New York
$633K +$448K +11,698 +348%
CGA
16
Crescent Grove Advisors
Illinois
$612K – – –
MA
17
MYDA Advisors
New York
$420K +$383K +10,000 New
Creative Planning
18
Creative Planning
Kansas
$379K – – –
Millennium Management
19
Millennium Management
New York
$309K +$227K +5,931 +414%
Charles Schwab
20
Charles Schwab
California
$279K +$113K +2,937 +79%
Bank of Montreal
21
Bank of Montreal
Ontario, Canada
$257K +$75.2K +1,963 +47%
Bank of New York Mellon
22
Bank of New York Mellon
New York
$246K +$13.8K +360 +7%
TCIM
23
TIAA CREF Investment Management
New York
$192K +$14.5K +379 +9%
Morgan Stanley
24
Morgan Stanley
New York
$159K +$38 +1 +0%
Two Sigma Investments
25
Two Sigma Investments
New York
$147K +$134K +3,504 New
1
2 3

NDLS Hedge Fund Activity: Q4 2017 in Review

64 of the 4,409 institutional investors tracked by Wall St. Rank reported a position in Noodles & Co (NDLS) for Q4 2017, worth a combined $109M — down 5.8% from $116M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new NDLS positions and 10 closed out — a net gain of 2 holders — while 27 added to existing stakes and 10 trimmed.

The largest buyer was Eidelman Virant Capital, adding an estimated $2.09M. The largest seller was Fidelity Investments, exiting entirely with an estimated $17.3M sold.

  • 64 institutional investors held Noodles & Co (NDLS) as of Q4 2017, up from 63 in Q3 2017.
  • Funds reported $109M of Noodles & Co stock for Q4 2017, down 5.8% quarter-over-quarter.
  • 12 funds opened new Noodles & Co positions in Q4 2017 and 10 closed out, a net change of +2 holders.
  • The largest Noodles & Co buyer in Q4 2017 was Eidelman Virant Capital, an estimated $2.09M added.
  • The largest Noodles & Co seller in Q4 2017 was Fidelity Investments, an estimated $17.3M sold.

Based on aggregated 13F filings for Q4 2017.