Intech Investment Management LLC Purchases Shares of 16,055 First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Intech Investment Management LLC purchased a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 16,055 shares of the company’s stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FWRG. Jane Street Group LLC boosted its stake in First Watch Restaurant Group by 1.1% in the third quarter. Jane Street Group LLC now owns 49,358 shares of the company’s stock valued at $770,000 after acquiring an additional 551 shares in the last quarter. Assetmark Inc. lifted its holdings in shares of First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of First Watch Restaurant Group by 2.7% in the 4th quarter. Bank of New York Mellon Corp now owns 78,621 shares of the company’s stock worth $1,463,000 after purchasing an additional 2,033 shares in the last quarter. Venturi Wealth Management LLC purchased a new position in First Watch Restaurant Group during the 4th quarter worth $81,000. Finally, SRH Advisors LLC increased its position in First Watch Restaurant Group by 84.3% during the 4th quarter. SRH Advisors LLC now owns 12,185 shares of the company’s stock valued at $227,000 after buying an additional 5,575 shares in the last quarter. Hedge funds and other institutional investors own 96.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research note on Tuesday, March 11th. Bank of America boosted their target price on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Benchmark reaffirmed a “buy” rating on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Stephens reissued an “overweight” rating and issued a $24.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, March 20th. Finally, TD Securities reaffirmed a “hold” rating and set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.27.

Insiders Place Their Bets

In related news, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $706,675.59. Following the sale, the chief executive officer now directly owns 389,832 shares in the company, valued at approximately $6,553,075.92. The trade was a 9.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the firm’s stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the completion of the transaction, the insider now owns 37,768 shares in the company, valued at approximately $634,880.08. This trade represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. 5.00% of the stock is currently owned by company insiders.

First Watch Restaurant Group Trading Down 1.0 %

First Watch Restaurant Group stock opened at $17.29 on Wednesday. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.05 billion, a PE ratio of 52.40, a P/E/G ratio of 3.38 and a beta of 0.91. The stock’s 50 day simple moving average is $19.42 and its two-hundred day simple moving average is $18.16. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last released its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $263.30 million during the quarter, compared to analysts’ expectations of $262.82 million. During the same period in the previous year, the firm posted $0.04 EPS. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. Analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

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.