First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Shares Bought by Jane Street Group LLC

Jane Street Group LLC grew its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 1.1% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,358 shares of the company’s stock after purchasing an additional 551 shares during the period. Jane Street Group LLC owned approximately 0.08% of First Watch Restaurant Group worth $770,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Diversified Trust Co grew its position in First Watch Restaurant Group by 9.8% in the 3rd quarter. Diversified Trust Co now owns 15,750 shares of the company’s stock valued at $246,000 after buying an additional 1,400 shares during the last quarter. Rocky Mountain Advisers LLC boosted its holdings in shares of First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after acquiring an additional 4,250 shares in the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Watch Restaurant Group in the third quarter valued at about $119,000. Rhumbline Advisers increased its stake in shares of First Watch Restaurant Group by 25.0% during the second quarter. Rhumbline Advisers now owns 38,106 shares of the company’s stock worth $669,000 after acquiring an additional 7,631 shares during the period. Finally, Versor Investments LP purchased a new position in First Watch Restaurant Group during the third quarter worth about $201,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Insider Transactions at First Watch Restaurant Group

In other news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the completion of the sale, the insider now directly owns 19,189,784 shares in the company, valued at $379,190,131.84. The trade was a 29.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

FWRG has been the topic of a number of analyst reports. Raymond James lifted their price objective on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Guggenheim decreased their price target on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a research note on Friday, October 4th. Benchmark reiterated a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. TD Cowen boosted their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research report on Friday, November 8th. Finally, Stephens increased their price target on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the company an “overweight” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $18.79 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $1.14 billion, a P/E ratio of 56.94, a price-to-earnings-growth ratio of 5.77 and a beta of 0.89. The firm has a 50-day moving average price of $18.69 and a two-hundred day moving average price of $16.94. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing the consensus estimate 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 business had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. During the same quarter in the prior year, the company earned $0.09 earnings per share. The firm’s revenue for the quarter was up 14.8% compared to the same quarter last year. As a group, research analysts expect that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current fiscal year.

About First Watch Restaurant Group

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.