First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Shares Purchased by SG Americas Securities LLC

SG Americas Securities LLC grew its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 98.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 15,177 shares of the company’s stock after purchasing an additional 7,547 shares during the quarter. SG Americas Securities LLC’s holdings in First Watch Restaurant Group were worth $282,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of FWRG. Rocky Mountain Advisers LLC raised its stake in First Watch Restaurant Group by 180.1% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock worth $103,000 after acquiring an additional 4,250 shares in the last quarter. XTX Topco Ltd acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth about $157,000. Versor Investments LP purchased a new stake in shares of First Watch Restaurant Group in the 3rd quarter valued at about $201,000. Commerce Bank acquired a new stake in shares of First Watch Restaurant Group in the 3rd quarter valued at about $208,000. Finally, Walleye Capital LLC purchased a new position in First Watch Restaurant Group during the 3rd quarter worth approximately $215,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Stephens reiterated an “overweight” rating and issued a $25.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, January 28th. Benchmark reiterated a “buy” rating and issued a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Piper Sandler increased their price target on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Monday, November 11th. Raymond James upped 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 report on Friday, November 8th. Finally, Barclays increased their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Two 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, the company presently has an average rating of “Moderate Buy” and an average target price of $23.30.

First Watch Restaurant Group Trading Up 0.5 %

NASDAQ FWRG opened at $21.41 on Thursday. 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 stock has a market capitalization of $1.30 billion, a P/E ratio of 64.88, a P/E/G ratio of 3.50 and a beta of 0.91. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98. The firm has a 50-day moving average price of $19.36 and a 200 day moving average price of $17.41.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results 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 return on equity of 3.61% and a net margin of 2.09%. The business had revenue of $251.61 million for the quarter, compared to analysts’ expectations of $256.17 million. During the same period last year, the company posted $0.09 earnings per share. The business’s quarterly revenue was up 14.8% on a year-over-year basis. Equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Insider Buying and Selling

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 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 transaction, the insider now directly owns 19,189,784 shares in the company, valued at approximately $379,190,131.84. This represents a 29.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.00% of the stock is currently owned by corporate insiders.

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.