SG Americas Securities LLC Acquires Shares of 7,630 First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

SG Americas Securities LLC acquired a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the third quarter, HoldingsChannel.com reports. The firm acquired 7,630 shares of the company’s stock, valued at approximately $119,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Susquehanna Fundamental Investments LLC purchased a new stake in shares of First Watch Restaurant Group during the second quarter worth approximately $281,000. The Manufacturers Life Insurance Company raised its stake in shares of First Watch Restaurant Group by 26.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,340,819 shares of the company’s stock worth $23,545,000 after purchasing an additional 281,056 shares during the last quarter. Armistice Capital LLC purchased a new stake in shares of First Watch Restaurant Group during the second quarter worth approximately $3,249,000. Squarepoint Ops LLC raised its stake in shares of First Watch Restaurant Group by 98.7% during the second quarter. Squarepoint Ops LLC now owns 39,460 shares of the company’s stock worth $693,000 after purchasing an additional 19,598 shares during the last quarter. Finally, Deepwater Asset Management LLC raised its stake in shares of First Watch Restaurant Group by 68.5% during the second quarter. Deepwater Asset Management LLC now owns 695,649 shares of the company’s stock worth $12,216,000 after purchasing an additional 282,765 shares during the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Up 2.5 %

First Watch Restaurant Group stock opened at $16.94 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.52 and a current ratio of 0.57. The firm has a market capitalization of $1.02 billion, a price-to-earnings ratio of 44.58, a price-to-earnings-growth ratio of 2.73 and a beta of 0.87. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The stock’s fifty day moving average is $15.69 and its two-hundred day moving average is $17.69.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, August 6th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.02. The company had revenue of $258.60 million for the quarter, compared to analyst estimates of $257.65 million. First Watch Restaurant Group had a return on equity of 4.24% and a net margin of 2.51%. First Watch Restaurant Group’s revenue was up 19.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.13 earnings per share. Analysts predict that First Watch Restaurant Group, Inc. will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

FWRG has been the subject of several analyst reports. TD Cowen restated a “hold” rating and set a $18.00 price target on shares of First Watch Restaurant Group in a research note on Thursday, September 12th. Stifel Nicolaus cut their price target on First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating for the company in a research note on Tuesday, July 2nd. Benchmark reiterated a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Barclays cut their price objective on First Watch Restaurant Group from $21.00 to $18.00 and set an “overweight” rating for the company in a research report on Tuesday, October 22nd. Finally, Guggenheim cut their price objective on First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Two equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

About First Watch Restaurant Group

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.