Stephens Investment Management Group LLC Acquires 163,102 Shares of First Watch Restaurant Group, Inc. $FWRG

Stephens Investment Management Group LLC increased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 21.2% during the third quarter, HoldingsChannel reports. The firm owned 932,064 shares of the company’s stock after buying an additional 163,102 shares during the period. Stephens Investment Management Group LLC’s holdings in First Watch Restaurant Group were worth $14,577,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. SG Americas Securities LLC raised its position in First Watch Restaurant Group by 94.5% in the 3rd quarter. SG Americas Securities LLC now owns 39,220 shares of the company’s stock worth $613,000 after buying an additional 19,051 shares during the last quarter. Squarepoint Ops LLC grew its stake in shares of First Watch Restaurant Group by 217.9% in the second quarter. Squarepoint Ops LLC now owns 86,637 shares of the company’s stock worth $1,390,000 after acquiring an additional 59,381 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of First Watch Restaurant Group by 435.5% in the second quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock worth $117,000 after acquiring an additional 5,918 shares during the period. Captrust Financial Advisors purchased a new position in shares of First Watch Restaurant Group during the second quarter valued at approximately $545,000. Finally, Manatuck Hill Partners LLC bought a new position in First Watch Restaurant Group during the second quarter valued at approximately $3,208,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

First Watch Restaurant Group Price Performance

NASDAQ FWRG opened at $16.70 on Friday. The company has a market capitalization of $1.02 billion, a PE ratio of 208.78, a price-to-earnings-growth ratio of 4.71 and a beta of 0.88. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. The business’s fifty day moving average is $16.56 and its 200 day moving average is $17.05. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.08 by ($0.03). The company had revenue of $316.02 million during the quarter, compared to the consensus estimate of $308.31 million. First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%. Sell-side analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Upgrades and Downgrades

FWRG has been the subject of a number of research analyst reports. Zacks Research downgraded shares of First Watch Restaurant Group from a “hold” rating to a “strong sell” rating in a research report on Monday, January 12th. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Barclays reduced their price objective on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research report on Wednesday, January 7th. Finally, Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and an average target price of $20.91.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.