Ancora Advisors LLC Purchases New Stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Ancora Advisors LLC acquired a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 25,640 shares of the company's stock, valued at approximately $477,000.

Other hedge funds have also modified their holdings of the company. Barclays PLC raised its stake in First Watch Restaurant Group by 505.3% during the 3rd quarter. Barclays PLC now owns 172,515 shares of the company's stock valued at $2,690,000 after acquiring an additional 144,014 shares during the last quarter. Franklin Resources Inc. boosted its holdings in First Watch Restaurant Group by 14.0% in the 3rd quarter. Franklin Resources Inc. now owns 1,114,974 shares of the company's stock valued at $16,022,000 after purchasing an additional 136,871 shares in the last quarter. JPMorgan Chase & Co. increased its position in First Watch Restaurant Group by 22.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock worth $30,988,000 after purchasing an additional 366,227 shares during the period. Diversified Trust Co raised its stake in shares of First Watch Restaurant Group by 84.5% during the 4th quarter. Diversified Trust Co now owns 29,051 shares of the company's stock worth $541,000 after buying an additional 13,301 shares in the last quarter. Finally, SG Americas Securities LLC raised its stake in shares of First Watch Restaurant Group by 98.9% during the 4th quarter. SG Americas Securities LLC now owns 15,177 shares of the company's stock worth $282,000 after buying an additional 7,547 shares in the last quarter. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other First Watch Restaurant Group news, insider Jay Anthony Wolszczak sold 5,743 shares of the company's stock in a transaction that occurred on Wednesday, March 12th. The stock was 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 $634,880.08. This represents a 13.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the sale, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company's stock.

First Watch Restaurant Group Trading Down 1.4 %

NASDAQ FWRG traded down $0.22 during trading hours on Friday, hitting $15.77. 1,021,409 shares of the company's stock were exchanged, compared to its average volume of 715,248. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month high of $22.71. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The business's 50 day moving average is $17.61 and its 200-day moving average is $18.74. The firm has a market capitalization of $961.86 million, a P/E ratio of 47.79, a price-to-earnings-growth ratio of 3.38 and a beta of 1.01.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its earnings results on Tuesday, May 6th. The company reported ($0.01) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.05). The firm had revenue of $282.24 million during the quarter, compared to analyst estimates of $282.98 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. First Watch Restaurant Group's revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.12 EPS. As a group, analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts recently commented on FWRG shares. Benchmark reduced their price objective on shares of First Watch Restaurant Group from $26.00 to $22.00 and set a "buy" rating for the company in a research note on Wednesday. Barclays lowered their price objective on shares of First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Raymond James reaffirmed a "strong-buy" rating and issued a $21.00 price target (down previously from $25.00) on shares of First Watch Restaurant Group in a report on Wednesday. Bank of America raised their price objective on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, March 12th. Finally, Piper Sandler reduced their target price on First Watch Restaurant Group from $23.00 to $20.00 and set an "overweight" rating on the stock in a research note on Wednesday. One equities research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $21.36.

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.