Jane Street Group LLC Has $568,000 Stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Jane Street Group LLC decreased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 38.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,519 shares of the company's stock after selling 18,839 shares during the quarter. Jane Street Group LLC owned about 0.05% of First Watch Restaurant Group worth $568,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FWRG. Comerica Bank raised its holdings in shares of First Watch Restaurant Group by 316.2% in the 4th quarter. Comerica Bank now owns 5,157 shares of the company's stock worth $96,000 after purchasing an additional 3,918 shares during the period. Northern Trust Corp raised its holdings in shares of First Watch Restaurant Group by 16.2% in the 4th quarter. Northern Trust Corp now owns 303,829 shares of the company's stock worth $5,654,000 after purchasing an additional 42,444 shares during the period. Tudor Investment Corp ET AL purchased a new position in shares of First Watch Restaurant Group in the 4th quarter worth about $2,924,000. Penn Capital Management Company LLC raised its holdings in shares of First Watch Restaurant Group by 34.7% in the 4th quarter. Penn Capital Management Company LLC now owns 735,486 shares of the company's stock worth $13,687,000 after purchasing an additional 189,597 shares during the period. Finally, Price T Rowe Associates Inc. MD purchased a new position in shares of First Watch Restaurant Group in the 4th quarter worth about $225,000. Institutional investors and hedge funds own 96.11% of the company's stock.

Analyst Ratings Changes

Several brokerages recently commented on FWRG. TD Securities dropped their target price on First Watch Restaurant Group from $22.00 to $19.00 and set a "buy" rating on the stock in a report on Wednesday, May 7th. Guggenheim dropped their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Barclays dropped their target price on First Watch Restaurant Group from $24.00 to $20.00 and set an "overweight" rating on the stock in a report on Tuesday, May 6th. Raymond James reiterated a "strong-buy" rating and set a $21.00 target price (down from $25.00) on shares of First Watch Restaurant Group in a report on Wednesday, May 7th. Finally, TD Cowen upgraded First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price objective on the stock in a report on Tuesday, April 1st. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $21.36.

Insider Activity

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the completion of the sale, the insider now directly owns 37,768 shares of the company's stock, valued at $634,880.08. The trade was a 13.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief executive officer now owns 389,832 shares in the company, valued at approximately $6,553,075.92. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company's stock.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock traded down $0.11 during midday trading on Monday, hitting $15.33. 559,604 shares of the company were exchanged, compared to its average volume of 712,828. The firm has a 50 day simple moving average of $17.28 and a 200-day simple moving average of $18.51. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71. The firm has a market cap of $935.02 million, a P/E ratio of 46.46, a PEG ratio of 3.38 and a beta of 1.01.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported ($0.01) EPS 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 net margin of 2.09% and a return on equity of 3.61%. The firm's quarterly revenue was up 16.4% on a year-over-year basis. During the same period last year, the business posted $0.12 earnings per share. Research analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

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.