Squarepoint Ops LLC Has $4.52 Million Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Squarepoint Ops LLC boosted its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 42.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,101 shares of the company's stock after buying an additional 72,829 shares during the period. Squarepoint Ops LLC owned 0.40% of First Watch Restaurant Group worth $4,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Champlain Investment Partners LLC boosted its position in shares of First Watch Restaurant Group by 59.0% in the fourth quarter. Champlain Investment Partners LLC now owns 2,582,303 shares of the company's stock worth $48,057,000 after purchasing an additional 958,417 shares during the period. Vanguard Group Inc. grew its holdings in First Watch Restaurant Group by 25.6% during the 4th quarter. Vanguard Group Inc. now owns 2,351,614 shares of the company's stock worth $43,764,000 after acquiring an additional 479,741 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of First Watch Restaurant Group by 7.8% during the fourth quarter. JPMorgan Chase & Co. now owns 2,141,209 shares of the company's stock valued at $39,848,000 after buying an additional 154,784 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in shares of First Watch Restaurant Group during the fourth quarter valued at about $39,095,000. Finally, 12 West Capital Management LP raised its position in shares of First Watch Restaurant Group by 20.2% in the 4th quarter. 12 West Capital Management LP now owns 2,013,406 shares of the company's stock valued at $37,469,000 after purchasing an additional 337,920 shares during the last quarter. 96.11% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Jay Anthony Wolszczak sold 5,743 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 $96,539.83. Following the completion of the sale, the insider now directly owns 37,768 shares in the company, valued at $634,880.08. This trade represents a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Christopher Anthony Tomasso sold 42,039 shares of the firm's 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 transaction, the chief executive officer now owns 389,832 shares in the company, valued at approximately $6,553,075.92. This trade represents a 9.73% decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FWRG has been the topic of a number of research analyst reports. Raymond James reissued 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 research note on Wednesday, May 7th. Stephens cut their target price on shares of First Watch Restaurant Group from $24.00 to $23.00 and set an "overweight" rating on the stock in a research note on Wednesday, May 7th. Benchmark decreased their price objective on First Watch Restaurant Group from $26.00 to $22.00 and set a "buy" rating for the company in a report on Wednesday, May 7th. Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research note on Tuesday, March 11th. Finally, Barclays dropped their price target on First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating for the company in a research report on Tuesday, May 6th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $21.36.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock traded up $0.10 during trading on Friday, hitting $15.70. The stock had a trading volume of 125,129 shares, compared to its average volume of 708,997. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $22.71. The firm has a market cap of $957.29 million, a P/E ratio of 47.44, a PEG ratio of 3.38 and a beta of 1.01. 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 business has a fifty day moving average of $17.36 and a two-hundred day moving average of $18.57.

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 the consensus estimate 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 return on equity of 3.61% and a net margin of 2.09%. The business's revenue for the quarter was up 16.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.12 earnings per share. On average, sell-side analysts expect that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal 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.