LVW Advisors LLC Invests $227,000 in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

LVW Advisors LLC purchased a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 9,212 shares of the company’s stock, valued at approximately $227,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sunbelt Securities Inc. bought a new position in First Watch Restaurant Group during the first quarter worth $65,000. iA Global Asset Management Inc. acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth $95,000. AXQ Capital LP acquired a new stake in shares of First Watch Restaurant Group during the third quarter worth $183,000. Accent Capital Management LLC acquired a new stake in shares of First Watch Restaurant Group during the fourth quarter worth $211,000. Finally, Versor Investments LP acquired a new stake in shares of First Watch Restaurant Group during the fourth quarter worth $259,000. 96.11% of the stock is owned by institutional investors.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $17.56 on Monday. The stock has a market cap of $1.06 billion, a P/E ratio of 46.21, a price-to-earnings-growth ratio of 2.25 and a beta of 0.88. The company has a current ratio of 0.60, a quick ratio of 0.55 and a debt-to-equity ratio of 0.21. The stock’s 50-day moving average is $20.20 and its 200-day moving average is $21.58. First Watch Restaurant Group, Inc. has a 1-year low of $16.19 and a 1-year high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Tuesday, May 7th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.10 by $0.02. First Watch Restaurant Group had a return on equity of 4.15% and a net margin of 2.52%. The business had revenue of $242.40 million for the quarter, compared to analysts’ expectations of $245.03 million. During the same period in the prior year, the business posted $0.15 earnings per share. The firm’s revenue was up 14.7% on a year-over-year basis. Equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.39 earnings per share for the current year.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, Director William A. Kussell sold 8,386 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $22.10, for a total value of $185,330.60. Following the transaction, the director now directly owns 12,409 shares of the company’s stock, valued at $274,238.90. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 5.00% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FWRG shares. TD Cowen dropped their price target on First Watch Restaurant Group from $25.00 to $21.00 and set a “hold” rating for the company in a research note on Thursday, June 13th. Citigroup boosted their price target on First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. Barclays dropped their price target on First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research note on Wednesday, May 8th. Finally, Stifel Nicolaus boosted their price target on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a research note on Wednesday, March 6th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, First Watch Restaurant Group presently has an average rating of “Moderate Buy” and an average target price of $24.83.

First Watch Restaurant Group 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.