Accurate Wealth Management LLC Buys Shares of 49,369 First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Accurate Wealth Management LLC purchased a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 49,369 shares of the company's stock, valued at approximately $866,000. Accurate Wealth Management LLC owned 0.08% of First Watch Restaurant Group as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FWRG. Assetmark Inc. increased its position in shares of First Watch Restaurant Group by 68.7% during the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company's stock worth $46,000 after acquiring an additional 1,000 shares in the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in First Watch Restaurant Group during the 4th quarter valued at about $51,000. State of Wyoming boosted its stake in First Watch Restaurant Group by 212.6% during the 4th quarter. State of Wyoming now owns 3,214 shares of the company's stock valued at $60,000 after purchasing an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in First Watch Restaurant Group during the 4th quarter worth approximately $81,000. Finally, BNP Paribas Financial Markets purchased a new stake in shares of First Watch Restaurant Group in the fourth quarter worth approximately $86,000. Institutional investors own 96.11% of the company's stock.

Analyst Upgrades and Downgrades

FWRG has been the topic of several analyst reports. TD Cowen raised First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a research report on Tuesday, April 1st. Raymond James restated a "strong-buy" rating and set a $21.00 price objective (down from $25.00) on shares of First Watch Restaurant Group in a research note on Wednesday, May 7th. Sanford C. Bernstein set a $21.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. TD Securities reiterated a "buy" rating and issued a $19.00 target price on shares of First Watch Restaurant Group in a report on Wednesday, June 4th. Finally, Stephens cut their price target on shares of First Watch Restaurant Group from $24.00 to $23.00 and set an "overweight" rating on the stock in a report on Wednesday, May 7th. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group has an average rating of "Buy" and a consensus target price of $21.36.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ FWRG traded down $0.02 during mid-day trading on Wednesday, reaching $15.89. 566,793 shares of the company's stock were exchanged, compared to its average volume of 739,525. The firm has a 50-day moving average price of $17.04 and a two-hundred day moving average price of $18.41. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. The firm has a market capitalization of $969.18 million, a price-to-earnings ratio of 48.15, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71.

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

Insider Transactions at First Watch Restaurant Group

In related news, major shareholder International L.P. Advent sold 4,500,000 shares of First Watch Restaurant Group stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $14.70, for a total value of $66,150,000.00. Following the completion of the sale, the insider now owns 14,689,784 shares of the company's stock, valued at approximately $215,939,824.80. This trade represents a 23.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

About First Watch Restaurant Group

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.