First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells $57,914.00 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider John Daniel Jones sold 4,600 shares of the business’s stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $12.59, for a total transaction of $57,914.00. Following the completion of the sale, the insider directly owned 86,422 shares in the company, valued at approximately $1,088,052.98. This trade represents a 5.05% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Watch Restaurant Group Stock Performance

Shares of FWRG stock traded down $0.76 during trading on Thursday, reaching $11.69. 1,754,873 shares of the company’s stock traded hands, compared to its average volume of 1,801,113. The firm’s 50-day moving average is $15.34 and its 200 day moving average is $16.43. The company has a market capitalization of $714.42 million, a P/E ratio of 37.69, a PEG ratio of 2.52 and a beta of 0.92. First Watch Restaurant Group, Inc. has a 1 year low of $11.56 and a 1 year high of $20.55. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.16. The business had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a net margin of 1.59% and a return on equity of 3.20%. First Watch Restaurant Group’s revenue was up 20.2% compared to the same quarter last year. During the same period in the previous year, the business earned $0.01 EPS. Equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Institutional Trading of First Watch Restaurant Group

Several institutional investors and hedge funds have recently modified their holdings of FWRG. Stephens Investment Management Group LLC grew its holdings in shares of First Watch Restaurant Group by 21.2% during the third quarter. Stephens Investment Management Group LLC now owns 932,064 shares of the company’s stock worth $14,577,000 after purchasing an additional 163,102 shares in the last quarter. Deepwater Asset Management LLC raised its stake in First Watch Restaurant Group by 14.8% in the third quarter. Deepwater Asset Management LLC now owns 724,714 shares of the company’s stock valued at $11,335,000 after purchasing an additional 93,662 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new stake in First Watch Restaurant Group during the second quarter valued at approximately $306,000. Loomis Sayles & Co. L P bought a new stake in First Watch Restaurant Group during the second quarter valued at approximately $18,350,000. Finally, Armistice Capital LLC purchased a new position in First Watch Restaurant Group in the 2nd quarter worth approximately $5,614,000. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Analyst Upgrades and Downgrades

FWRG has been the topic of a number of recent research reports. DA Davidson began coverage on First Watch Restaurant Group in a report on Friday, March 6th. They set a “buy” rating and a $17.00 price objective on the stock. Guggenheim reduced their target price on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Barclays lowered their price target on shares of First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Finally, Citigroup decreased their target price on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $19.75.

About First Watch Restaurant Group

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.