Matthew Eisenacher Sells 2,760 Shares of First Watch Restaurant Group (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Matthew Eisenacher sold 2,760 shares of the firm’s stock in a transaction on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total transaction of $34,555.20. Following the completion of the sale, the insider owned 67,223 shares in the company, valued at approximately $841,631.96. The trade was a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Matthew Eisenacher also recently made the following trade(s):

• On Tuesday, March 10th, Matthew Eisenacher sold 6,070 shares of First Watch Restaurant Group stock. The shares were sold at an average price of $12.59, for a total transaction of $76,421.30.

First Watch Restaurant Group Stock Performance

FWRG stock traded up $0.07 during trading on Thursday, reaching $12.39. 1,222,836 shares of the stock were exchanged, compared to its average volume of 1,752,333. First Watch Restaurant Group, Inc. has a twelve month low of $11.44 and a twelve month high of $20.55. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 0.43. The company has a market capitalization of $757.50 million, a P/E ratio of 39.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92. The stock has a 50 day simple moving average of $14.99 and a 200-day simple moving average of $16.18.

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

Institutional Trading of First Watch Restaurant Group

A number of large investors have recently bought and sold shares of FWRG. Legal & General Group Plc raised its stake in First Watch Restaurant Group by 1.6% during the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after acquiring an additional 724 shares in the last quarter. California State Teachers Retirement System boosted its stake in shares of First Watch Restaurant Group by 1.8% in the 4th quarter. California State Teachers Retirement System now owns 46,092 shares of the company’s stock valued at $695,000 after purchasing an additional 832 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of First Watch Restaurant Group by 4.2% in the 3rd quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock worth $360,000 after purchasing an additional 934 shares during the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in shares of First Watch Restaurant Group by 17.3% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock worth $146,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Intech Investment Management LLC increased its position in shares of First Watch Restaurant Group by 11.1% during the 4th quarter. Intech Investment Management LLC now owns 16,041 shares of the company’s stock worth $242,000 after purchasing an additional 1,606 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on FWRG. Stephens reduced their target price on First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. Citigroup reduced their price objective on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, TD Cowen lowered their target price on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $19.75.

About First Watch Restaurant Group

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.