Two Sigma Advisers LP Purchases Shares of 50,900 First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Two Sigma Advisers LP purchased a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund purchased 50,900 shares of the company's stock, valued at approximately $947,000. Two Sigma Advisers LP owned about 0.08% of First Watch Restaurant Group at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Assetmark Inc. grew its holdings in shares of First Watch Restaurant Group by 68.7% during the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at approximately $51,000. State of Wyoming grew its holdings 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 purchasing an additional 2,186 shares during the last quarter. Venturi Wealth Management LLC bought a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at approximately $81,000. Finally, BNP Paribas Financial Markets bought a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at approximately $86,000. 96.11% of the stock is owned by institutional investors.

Insider Activity at First Watch Restaurant Group

In related news, insider Jay Anthony Wolszczak sold 5,743 shares of the firm's stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now directly owns 37,768 shares of the company's stock, 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 SEC, which is available through the SEC website. Also, major shareholder International L.P. Advent sold 4,500,000 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $14.70, for a total transaction of $66,150,000.00. Following the transaction, the insider now owns 14,689,784 shares in the company, valued at $215,939,824.80. The trade was a 23.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,547,782 shares of company stock valued at $66,953,215 over the last three months. 6.00% of the stock is owned by corporate insiders.

First Watch Restaurant Group Price Performance

Shares of First Watch Restaurant Group stock traded down $0.64 on Thursday, reaching $14.92. The stock had a trading volume of 1,271,983 shares, compared to its average volume of 737,082. The business's 50 day moving average is $17.18 and its two-hundred day moving average is $18.45. The company has a market cap of $910.02 million, a P/E ratio of 45.21, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its 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). The company had revenue of $282.24 million during the quarter, compared to analysts' expectations of $282.98 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company's revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. As a group, research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

FWRG has been the topic of a number of research reports. Bank of America boosted their target price on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a "buy" rating in a report on Wednesday, March 12th. TD Cowen raised shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 target price on the stock in a report on Tuesday, April 1st. Raymond James reissued 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. Guggenheim reduced their target price on shares of 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. Finally, Sanford C. Bernstein set a $21.00 price objective on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. One investment 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's stock. Based on data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of "Buy" and a consensus price target of $21.36.

First Watch Restaurant Group 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.