Insider Selling: First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Insider Sells $96,539.83 in Stock

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

First Watch Restaurant Group Trading Up 0.4 %

Shares of FWRG stock opened at $16.49 on Monday. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.38 and a beta of 0.91. The stock has a 50-day moving average of $19.77 and a 200-day moving average of $18.13. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $25.98.

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

Analysts Set New Price Targets

FWRG has been the subject of several recent analyst reports. Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a research report on Wednesday. Barclays restated an “overweight” rating and set a $21.00 price objective (down from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. TD Securities reiterated a “hold” rating and issued a $21.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Stephens reiterated an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, Bank of America increased their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, March 12th. Three analysts have rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, First Watch Restaurant Group has an average rating of “Moderate Buy” and a consensus price target of $22.36.

Institutional Investors Weigh In On First Watch Restaurant Group

Several large investors have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in First Watch Restaurant Group during the fourth quarter worth approximately $377,000. Squarepoint Ops LLC boosted its holdings in First Watch Restaurant Group by 42.8% in the fourth quarter. Squarepoint Ops LLC now owns 243,101 shares of the company’s stock worth $4,524,000 after acquiring an additional 72,829 shares in the last quarter. Two Sigma Advisers LP bought a new position in First Watch Restaurant Group in the fourth quarter worth approximately $947,000. Two Sigma Investments LP boosted its holdings in First Watch Restaurant Group by 159.3% in the fourth quarter. Two Sigma Investments LP now owns 211,865 shares of the company’s stock worth $3,943,000 after acquiring an additional 130,169 shares in the last quarter. Finally, State of Wyoming boosted its holdings in First Watch Restaurant Group by 212.6% in the fourth quarter. State of Wyoming now owns 3,214 shares of the company’s stock worth $60,000 after acquiring an additional 2,186 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Company 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.