Wealth Alliance LLC Invests $162,000 in First Watch Restaurant Group, Inc. $FWRG

Wealth Alliance LLC acquired a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) in the second quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 10,093 shares of the company’s stock, valued at approximately $162,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Riverbridge Partners LLC purchased a new position in First Watch Restaurant Group during the second quarter worth about $20,524,000. MetLife Investment Management LLC lifted its holdings in shares of First Watch Restaurant Group by 3,919.8% in the 1st quarter. MetLife Investment Management LLC now owns 834,830 shares of the company’s stock worth $13,900,000 after acquiring an additional 814,062 shares during the last quarter. Emerald Advisers LLC purchased a new position in shares of First Watch Restaurant Group during the 2nd quarter worth approximately $6,173,000. Penn Capital Management Company LLC increased its holdings in First Watch Restaurant Group by 37.4% in the 1st quarter. Penn Capital Management Company LLC now owns 1,010,755 shares of the company’s stock valued at $16,874,000 after purchasing an additional 275,269 shares during the last quarter. Finally, Emerald Mutual Fund Advisers Trust acquired a new stake in First Watch Restaurant Group in the 2nd quarter valued at approximately $4,147,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FWRG has been the topic of a number of research reports. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Thursday. Stephens raised their target price on First Watch Restaurant Group from $23.00 to $24.00 and gave the company an “overweight” rating in a report on Wednesday, August 6th. Benchmark lifted their target price on First Watch Restaurant Group from $22.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, August 6th. Bank of America reduced their price target on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research report on Friday, July 18th. Finally, Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research note on Friday, October 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $21.09.

First Watch Restaurant Group Price Performance

FWRG stock opened at $16.97 on Friday. The business’s 50-day moving average is $16.87 and its two-hundred day moving average is $16.94. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21. The firm has a market capitalization of $1.04 billion, a P/E ratio of 212.15, a P/E/G ratio of 9.74 and a beta of 0.88. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.03). First Watch Restaurant Group had a return on equity of 0.83% and a net margin of 0.42%.The company had revenue of $316.02 million for the quarter, compared to analyst estimates of $308.31 million. First Watch Restaurant Group has set its FY 2025 guidance at EPS. Analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Insider Activity at First Watch Restaurant Group

In other news, major shareholder International L.P. Advent sold 4,400,000 shares of First Watch Restaurant Group stock in a transaction on Monday, September 8th. The shares were sold at an average price of $17.67, for a total transaction of $77,748,000.00. Following the completion of the sale, the insider directly owned 5,289,784 shares of the company’s stock, valued at approximately $93,470,483.28. The trade was a 45.41% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 6.00% 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.