First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells $59,575.88 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Laura Anne Sorensen sold 4,732 shares of the company’s stock in a transaction dated Tuesday, March 10th. The shares were sold at an average price of $12.59, for a total transaction of $59,575.88. Following the sale, the insider owned 239,050 shares of the company’s stock, valued at $3,009,639.50. This trade represents a 1.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

First Watch Restaurant Group Stock Performance

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

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results 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 firm had revenue of $316.35 million during the quarter, compared to the consensus estimate of $317.49 million. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The firm’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.01 EPS. As a group, equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Woodline Partners LP acquired a new stake in First Watch Restaurant Group during the third quarter valued at approximately $20,318,000. Loomis Sayles & Co. L P acquired a new position in shares of First Watch Restaurant Group in the 2nd quarter worth approximately $18,350,000. The Manufacturers Life Insurance Company lifted its position in shares of First Watch Restaurant Group by 51.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,335,883 shares of the company’s stock worth $37,468,000 after buying an additional 796,191 shares during the period. Balyasny Asset Management L.P. boosted its stake in First Watch Restaurant Group by 2,796.3% in the 3rd quarter. Balyasny Asset Management L.P. now owns 813,051 shares of the company’s stock valued at $12,716,000 after buying an additional 784,979 shares in the last quarter. Finally, Fred Alger Management LLC grew its position in First Watch Restaurant Group by 183.9% in the fourth quarter. Fred Alger Management LLC now owns 1,036,560 shares of the company’s stock valued at $15,631,000 after acquiring an additional 671,455 shares during the period. Institutional investors and hedge funds own 96.11% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FWRG. Stephens lowered their price objective on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 25th. TD Cowen cut their target price on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Citigroup decreased their price target on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. Finally, DA Davidson assumed coverage on shares of First Watch Restaurant Group in a research note on Friday, March 6th. They issued a “buy” rating and a $17.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.