Los Angeles Capital Management LLC Decreases Stock Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Los Angeles Capital Management LLC reduced its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 56.9% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 45,106 shares of the company’s stock after selling 59,593 shares during the period. Los Angeles Capital Management LLC owned 0.07% of First Watch Restaurant Group worth $1,111,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. DekaBank Deutsche Girozentrale acquired a new position in First Watch Restaurant Group during the third quarter worth $35,000. iA Global Asset Management Inc. purchased a new stake in shares of First Watch Restaurant Group in the third quarter valued at about $95,000. AXQ Capital LP acquired a new stake in First Watch Restaurant Group during the third quarter worth about $183,000. Accent Capital Management LLC purchased a new position in First Watch Restaurant Group during the fourth quarter worth about $211,000. Finally, Versor Investments LP acquired a new position in First Watch Restaurant Group in the 4th quarter valued at about $259,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on FWRG shares. Stifel Nicolaus increased their price objective on First Watch Restaurant Group from $20.00 to $22.00 and gave the stock a “hold” rating in a research report on Wednesday, March 6th. Barclays decreased their target price on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating on the stock in a research report on Wednesday, May 8th. TD Cowen dropped their price target on shares of First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating for the company in a research report on Thursday, June 13th. Finally, Citigroup upped their price objective on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $24.83.

Insider Buying and Selling at First Watch Restaurant Group

In other news, Director William A. Kussell sold 8,386 shares of the business’s stock in a transaction dated Monday, April 22nd. The stock was sold at an average price of $22.10, for a total transaction of $185,330.60. Following the completion of the transaction, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.00% of the stock is owned by corporate insiders.

First Watch Restaurant Group Trading Up 0.5 %

Shares of FWRG stock opened at $18.42 on Monday. The stock has a market capitalization of $1.11 billion, a P/E ratio of 48.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.93. First Watch Restaurant Group, Inc. has a fifty-two week low of $15.77 and a fifty-two week high of $25.98. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.55 and a current ratio of 0.60. The company has a 50 day moving average price of $20.63 and a 200 day moving average price of $21.63.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.10 by $0.02. The business had revenue of $242.40 million for the quarter, compared to analyst estimates of $245.03 million. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The company’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.15 earnings per share. Equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.39 EPS for the current fiscal year.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc, through its subsidiaries, operates and franchises restaurants under the First Watch trade name in the United States. The company was formerly known as AI Fresh Super Holdco, Inc and changed its name to First Watch Restaurant Group, Inc in December 2019. First Watch Restaurant Group, Inc was founded in 1983 and is based in Bradenton, Florida.