First Watch Restaurant Group, Inc. $FWRG Stock Holdings Reduced by GSA Capital Partners LLP

GSA Capital Partners LLP cut its position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 25.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 99,624 shares of the company’s stock after selling 34,106 shares during the period. GSA Capital Partners LLP’s holdings in First Watch Restaurant Group were worth $1,558,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of First Watch Restaurant Group by 18.2% in the 3rd quarter. Vanguard Group Inc. now owns 2,888,295 shares of the company’s stock valued at $45,173,000 after buying an additional 443,830 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in First Watch Restaurant Group by 51.7% in the second quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company’s stock worth $37,468,000 after acquiring an additional 796,191 shares in the last quarter. Lazard Asset Management LLC grew its position in First Watch Restaurant Group by 13.4% in the second quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company’s stock worth $36,589,000 after acquiring an additional 269,726 shares in the last quarter. JPMorgan Chase & Co. increased its stake in shares of First Watch Restaurant Group by 1.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 2,213,754 shares of the company’s stock worth $35,509,000 after purchasing an additional 39,648 shares during the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of First Watch Restaurant Group by 33.5% during the 2nd quarter. Marshall Wace LLP now owns 1,203,109 shares of the company’s stock valued at $19,298,000 after purchasing an additional 301,572 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director William A. Kussell sold 6,165 shares of the business’s stock in a transaction dated Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total transaction of $104,805.00. Following the transaction, the director owned 26,402 shares in the company, valued at approximately $448,834. The trade was a 18.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 6.00% of the stock is currently owned by company insiders.

First Watch Restaurant Group Stock Up 2.4%

FWRG opened at $15.74 on Wednesday. The business has a 50 day moving average of $16.20 and a 200-day moving average of $16.91. The stock has a market capitalization of $960.61 million, a price-to-earnings ratio of 196.77, a P/E/G ratio of 2.80 and a beta of 0.88. The company has a current ratio of 0.25, a quick ratio of 0.21 and a debt-to-equity ratio of 0.41. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $22.71.

Wall Street Analyst Weigh In

FWRG has been the subject of a number of recent research reports. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Barclays decreased their price target on First Watch Restaurant Group from $21.00 to $19.00 and set an “overweight” rating for the company in a research note on Wednesday, January 7th. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $20.91.

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.