BlackRock Amends Noodles & Co Stake, Maintains Passive Position
Ticker: NDLS · Form: SC 13G/A · Filed: Jan 29, 2024 · CIK: 1275158
| Field | Detail |
|---|---|
| Company | Noodles & CO (NDLS) |
| Form Type | SC 13G/A |
| Filed Date | Jan 29, 2024 |
| Risk Level | low |
| Sentiment | neutral |
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**BlackRock still owns a big chunk of Noodles & Co, signaling continued institutional interest.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 29, 2024, disclosing its ownership in Noodles & Co (NASDAQ: NDLS) as of December 31, 2023. This amendment, number 2, indicates BlackRock's continued significant passive stake in the restaurant chain. For investors, this filing confirms that a major institutional investor like BlackRock maintains a substantial, albeit passive, interest in Noodles & Co, which can signal a degree of confidence in the company's long-term prospects.
Why It Matters
This filing shows BlackRock, a major institutional investor, still holds a significant stake in Noodles & Co, which can be a vote of confidence for current and potential shareholders.
Risk Assessment
Risk Level: low — This filing is a routine update from a passive institutional investor and does not indicate any immediate risks or changes in company operations.
Analyst Insight
Investors should view this as a routine disclosure confirming BlackRock's continued, passive institutional ownership in Noodles & Co, rather than a signal for immediate buying or selling. It reinforces that a large institutional player sees value in holding the stock long-term.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- NOODLES & Co (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 29, 2024 (date) — the filing date of the SC 13G/A amendment
- 65540B105 (other) — the CUSIP number for Noodles & Co Class A Common Stock
Forward-Looking Statements
- BlackRock will likely maintain its passive investment strategy in Noodles & Co. (BlackRock Inc.) — high confidence, target: next 12 months
- Noodles & Co's stock price will not be significantly impacted by this routine filing alone. (NOODLES & Co) — high confidence, target: next 30 days
FAQ
What type of filing is this and what does it signify?
This is an SC 13G/A filing, which is an amendment to a Schedule 13G. It signifies that BlackRock Inc., a passive institutional investor, is updating its ownership stake in NOODLES & Co as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
Who is the reporting person in this filing?
The reporting person is BlackRock Inc., a major asset management firm with a business address at 50 Hudson Yards, New York, NY 10001.
What is the subject company of this filing?
The subject company is NOODLES & Co, a retail-eating places company with a business address at 520 Zang St., Suite D, Broomfield, CO 80021.
What is the CUSIP number for the securities mentioned in the filing?
The CUSIP number for the Class A Common Stock of NOODLES & Co is 65540B105, as stated on the cover page of the filing.
What was the 'Date of Event Which Requires Filing of this Statement'?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as specified in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 29, 2024 regarding NOODLES & Co (NDLS).