Insider Selling: First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Insider Sells 5,743 Shares of Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Jay Anthony Wolszczak sold 5,743 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the transaction, the insider now owns 37,768 shares in the company, valued at $634,880.08. This represents a 13.20 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $16.49 on Monday. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The business has a fifty day simple moving average of $19.77 and a two-hundred day simple moving average of $18.13. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $25.98. The company has a market capitalization of $1.00 billion, a P/E ratio of 49.97, a P/E/G ratio of 3.38 and a beta of 0.91.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm had revenue of $263.30 million during the quarter, compared to analysts’ expectations of $262.82 million. During the same period in the prior year, the business earned $0.04 earnings per share. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. On average, analysts expect that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on FWRG shares. Barclays restated an “overweight” rating and issued a $21.00 target price (down previously from $24.00) on shares of First Watch Restaurant Group in a report on Tuesday, March 11th. TD Securities restated a “hold” rating and issued a $21.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Bank of America lifted their price target on First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a report on Tuesday, March 11th. Finally, Stephens reiterated an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, March 11th. Three research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and an average target price of $22.36.

Hedge Funds Weigh In On First Watch Restaurant Group

Hedge funds have recently made changes to their positions in the stock. Assetmark Inc. grew its position in shares of First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock valued at $46,000 after purchasing an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $51,000. State of Wyoming grew its position in shares of First Watch Restaurant Group by 212.6% in the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock valued at $60,000 after purchasing an additional 2,186 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $81,000. Finally, BNP Paribas Financial Markets purchased a new position in shares of First Watch Restaurant Group in the fourth quarter valued at $86,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

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.