GSA Capital Partners LLP Sells 25,539 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

GSA Capital Partners LLP reduced its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 61.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,119 shares of the company’s stock after selling 25,539 shares during the period. GSA Capital Partners LLP’s holdings in First Watch Restaurant Group were worth $251,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Diversified Trust Co grew its stake 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 worth $246,000 after acquiring an additional 1,400 shares in the last quarter. Sei Investments Co. grew its stake in First Watch Restaurant Group by 6.5% in the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock worth $718,000 after acquiring an additional 1,783 shares in the last quarter. iA Global Asset Management Inc. boosted its stake in shares of First Watch Restaurant Group by 10.9% during the second quarter. iA Global Asset Management Inc. now owns 19,898 shares of the company’s stock valued at $349,000 after purchasing an additional 1,948 shares in the last quarter. Quent Capital LLC boosted its stake in shares of First Watch Restaurant Group by 28.6% during the second quarter. Quent Capital LLC now owns 9,000 shares of the company’s stock valued at $158,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Bayesian Capital Management LP boosted its stake in shares of First Watch Restaurant Group by 17.6% during the first quarter. Bayesian Capital Management LP now owns 19,369 shares of the company’s stock valued at $477,000 after purchasing an additional 2,900 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on FWRG. Barclays increased their price objective on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. Stephens increased their price objective on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the company an “overweight” rating in a research note on Friday, November 8th. TD Cowen increased their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research report on Friday, November 8th. Raymond James increased their target price on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a research report on Friday, November 8th. Finally, Guggenheim decreased their target price on shares of 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. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Insider Buying and Selling 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. 5.00% of the stock is currently owned by insiders.

First Watch Restaurant Group Stock Up 2.8 %

FWRG stock opened at $18.24 on Friday. The company has a fifty day moving average price of $16.51 and a 200 day moving average price of $16.98. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 55.27, a price-to-earnings-growth ratio of 5.21 and a beta of 0.85. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51.

First Watch Restaurant Group (NASDAQ:FWRG) last released its 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). The firm had revenue of $251.61 million during the quarter, compared to analyst estimates of $256.17 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm’s revenue was up 14.8% on a year-over-year basis. During the same quarter last year, the business posted $0.09 EPS. Sell-side analysts expect 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.