First Watch Restaurant Group, Inc. $FWRG Shares Bought by Accurate Wealth Management LLC

Key Points

• Accurate Wealth Management LLC increased its stake in First Watch Restaurant Group by 34.9%, now holding 66,618 shares worth approximately $1,185,000.
• Major shareholder International L.P. Advent sold 4.4 million shares at an average price of $17.67, resulting in a 45.41% decrease in their position.
• First Watch's stock is currently priced at $15.68, and the company reported a quarter revenue increase of 19.1%, but missed EPS estimates.

Accurate Wealth Management LLC boosted its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 34.9% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 66,618 shares of the company's stock after purchasing an additional 17,249 shares during the period. Accurate Wealth Management LLC owned approximately 0.11% of First Watch Restaurant Group worth $1,185,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Sumitomo Mitsui Trust Group Inc. acquired a new stake in First Watch Restaurant Group during the 1st quarter worth about $259,000. SG Americas Securities LLC grew its position in shares of First Watch Restaurant Group by 272.0% during the 1st quarter. SG Americas Securities LLC now owns 56,466 shares of the company's stock valued at $940,000 after acquiring an additional 41,289 shares during the period. Nuveen LLC acquired a new stake in shares of First Watch Restaurant Group during the 1st quarter valued at about $1,085,000. Bank of New York Mellon Corp grew its position in shares of First Watch Restaurant Group by 203.6% during the 1st quarter. Bank of New York Mellon Corp now owns 238,661 shares of the company's stock valued at $3,974,000 after acquiring an additional 160,040 shares during the period. Finally, Stephens Investment Management Group LLC grew its position in shares of First Watch Restaurant Group by 2.2% during the 1st quarter. Stephens Investment Management Group LLC now owns 708,663 shares of the company's stock valued at $11,799,000 after acquiring an additional 15,304 shares during the period. 96.11% of the stock is owned by institutional investors and hedge funds.

Insider Activity at First Watch Restaurant Group

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

First Watch Restaurant Group Stock Down 0.3%

FWRG stock opened at $15.68 on Wednesday. The firm has a market cap of $956.79 million, a PE ratio of 261.38, a PEG ratio of 5.59 and a beta of 0.92. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.23 and a current ratio of 0.27. The firm's 50 day moving average price is $17.61 and its 200-day moving average price is $17.13. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $0.03 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.04). The firm had revenue of $307.89 million for the quarter, compared to analysts' expectations of $304.94 million. First Watch Restaurant Group had a net margin of 0.37% and a return on equity of 0.69%. The firm's quarterly revenue was up 19.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.14 EPS. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on FWRG. TD Cowen raised their target price on First Watch Restaurant Group from $19.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, July 29th. TD Securities restated a "buy" rating and set a $19.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, June 4th. 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 research report on Wednesday, August 6th. Barclays raised their target price on First Watch Restaurant Group from $20.00 to $21.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, Wall Street Zen cut First Watch Restaurant Group from a "hold" rating to a "sell" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, First Watch Restaurant Group has a consensus rating of "Buy" and a consensus price target of $21.09.

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.

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