Walleye Capital LLC Takes $215,000 Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Walleye Capital LLC bought a new position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 13,783 shares of the company’s stock, valued at approximately $215,000.

A number of other institutional investors have also added to or reduced their stakes in FWRG. Rocky Mountain Advisers LLC grew its stake in First Watch Restaurant Group by 180.1% in the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after purchasing an additional 4,250 shares during the period. SG Americas Securities LLC bought a new stake in First Watch Restaurant Group in the third quarter worth about $119,000. Versor Investments LP purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth approximately $201,000. Commerce Bank bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $208,000. Finally, Diversified Trust Co lifted its stake in First Watch Restaurant Group by 9.8% in the third quarter. Diversified Trust Co now owns 15,750 shares of the company’s stock valued at $246,000 after purchasing an additional 1,400 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on FWRG shares. Guggenheim decreased their target price on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Barclays raised their price target on First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Stephens increased their price objective on First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $23.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. Finally, Raymond James boosted their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Insider Activity

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the transaction, the insider now owns 19,189,784 shares in the company, valued at approximately $379,190,131.84. This represents a 29.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Price Performance

Shares of NASDAQ:FWRG opened at $19.78 on Thursday. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $25.98. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The company’s fifty day moving average is $17.46 and its 200 day moving average is $16.91. The stock has a market cap of $1.20 billion, a PE ratio of 59.94, a PEG ratio of 5.64 and a beta of 0.89.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The firm had revenue of $251.61 million during the quarter, compared to analysts’ expectations of $256.17 million. During the same quarter in the previous year, the firm posted $0.09 EPS. First Watch Restaurant Group’s revenue was up 14.8% compared to the same quarter last year. Research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current 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.