First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Shares Bought by SG Americas Securities LLC

SG Americas Securities LLC raised its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 272.0% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 56,466 shares of the company's stock after purchasing an additional 41,289 shares during the period. SG Americas Securities LLC owned 0.09% of First Watch Restaurant Group worth $940,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Assetmark Inc. lifted its stake in 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 purchasing an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new position in shares of First Watch Restaurant Group in the 4th quarter valued at about $51,000. State of Wyoming grew its position in shares of 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 buying an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in First Watch Restaurant Group during the fourth quarter worth about $81,000. Finally, BNP Paribas Financial Markets acquired a new stake in First Watch Restaurant Group during the fourth quarter worth about $86,000. Institutional investors own 96.11% of the company's stock.

First Watch Restaurant Group Price Performance

FWRG stock traded up $0.51 during trading on Friday, hitting $15.83. The company had a trading volume of 1,214,691 shares, compared to its average volume of 741,199. The business has a 50 day moving average of $16.86 and a 200 day moving average of $18.23. The firm has a market capitalization of $965.47 million, a price-to-earnings ratio of 93.12, a P/E/G ratio of 4.50 and a beta of 0.90. The company has a current ratio of 0.31, a quick ratio of 0.27 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its quarterly 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). First Watch Restaurant Group had a return on equity of 1.84% and a net margin of 1.03%. The company had revenue of $282.24 million during the quarter, compared to analyst estimates of $282.98 million. During the same period in the prior year, the company posted $0.12 earnings per share. The company's revenue was up 16.4% on a year-over-year basis. As a group, research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity

In other First Watch Restaurant Group news, major shareholder International L.P. Advent sold 4,500,000 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were 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 directly owns 14,689,784 shares of the company's stock, valued at approximately $215,939,824.80. This represents a 23.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FWRG has been the subject of several recent research reports. Guggenheim lowered their target price on First Watch Restaurant Group from $23.00 to $22.00 and set a "buy" rating for the company in a report on Thursday, May 8th. Barclays reduced their price objective 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. TD Securities reaffirmed a "buy" rating and issued a $19.00 target price on shares of First Watch Restaurant Group in a research report on Wednesday, June 4th. Bank of America boosted their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a report on Wednesday, March 12th. Finally, Benchmark lowered their price target on shares of First Watch Restaurant Group from $26.00 to $22.00 and set a "buy" rating for the company in a research report on Wednesday, May 7th. One equities 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. Based on data from MarketBeat, First Watch Restaurant Group currently has an average rating of "Buy" and an average price target 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.