First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells $76,421.30 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Matthew Eisenacher sold 6,070 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.59, for a total value of $76,421.30. Following the transaction, the insider directly owned 69,983 shares of the company’s stock, valued at $881,085.97. This represents a 7.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

First Watch Restaurant Group Price Performance

First Watch Restaurant Group stock traded down $0.76 during midday trading on Thursday, hitting $11.69. The company’s stock had a trading volume of 1,754,873 shares, compared to its average volume of 1,801,113. First Watch Restaurant Group, Inc. has a 12 month low of $11.56 and a 12 month high of $20.55. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $714.42 million, a PE ratio of 37.69, a price-to-earnings-growth ratio of 2.52 and a beta of 0.92. The stock’s 50-day moving average price is $15.34 and its 200-day moving average price is $16.43.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.16. The company had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a net margin of 1.59% and a return on equity of 3.20%. The business’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the firm posted $0.01 EPS. Analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Hedge Funds Weigh In On First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Stephens Investment Management Group LLC lifted its holdings in shares of First Watch Restaurant Group by 21.2% in the third quarter. Stephens Investment Management Group LLC now owns 932,064 shares of the company’s stock valued at $14,577,000 after purchasing an additional 163,102 shares in the last quarter. Deepwater Asset Management LLC grew its holdings in shares of First Watch Restaurant Group by 14.8% during the third quarter. Deepwater Asset Management LLC now owns 724,714 shares of the company’s stock valued at $11,335,000 after buying an additional 93,662 shares in the last quarter. Catalyst Funds Management Pty Ltd acquired a new position in First Watch Restaurant Group during the second quarter valued at $306,000. Armistice Capital LLC purchased a new stake in First Watch Restaurant Group in the 2nd quarter worth about $5,614,000. Finally, Loomis Sayles & Co. L P acquired a new stake in First Watch Restaurant Group during the 2nd quarter worth about $18,350,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. DA Davidson started coverage on First Watch Restaurant Group in a report on Friday, March 6th. They issued a “buy” rating and a $17.00 price target on the stock. Stephens decreased their target price on First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a report on Monday, December 29th. Guggenheim decreased their price target on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Finally, Zacks Research raised First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $19.75.

First Watch Restaurant Group Company Profile

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.