Marshall Wace LLP Has $4.13 Million Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Marshall Wace LLP raised its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 986.1% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 221,702 shares of the company's stock after purchasing an additional 201,289 shares during the period. Marshall Wace LLP owned 0.37% of First Watch Restaurant Group worth $4,126,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the stock. Assetmark Inc. boosted its holdings in First Watch Restaurant Group by 68.7% in 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 period. 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. Venturi Wealth Management LLC bought a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at about $81,000. American Century Companies Inc. acquired a new stake in First Watch Restaurant Group during the fourth quarter worth about $200,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in First Watch Restaurant Group in the fourth quarter valued at approximately $204,000. Institutional investors and hedge funds own 96.11% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. TD Cowen raised First Watch Restaurant Group from a "hold" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Tuesday, April 1st. Benchmark reiterated a "buy" rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Bank of America lifted their price objective on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Finally, Barclays upped their target price on shares of First Watch Restaurant Group from $21.00 to $24.00 and gave the stock an "overweight" rating in a research report on Tuesday, April 22nd. 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. According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $22.73.

First Watch Restaurant Group Price Performance

Shares of FWRG stock traded down $0.69 during mid-day trading on Wednesday, hitting $17.66. 1,668,089 shares of the stock traded hands, compared to its average volume of 692,492. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 53.52, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company's 50-day simple moving average is $18.12 and its 200-day simple moving average is $18.68. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.85.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last issued its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.02 by ($0.01). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The business had revenue of $263.30 million during the quarter, compared to the consensus estimate of $262.82 million. During the same quarter last year, the firm posted $0.04 earnings per share. First Watch Restaurant Group's revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Insider Activity at First Watch Restaurant Group

In other news, insider Jay Anthony Wolszczak sold 5,743 shares of the business'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 transaction of $96,539.83. Following the sale, the insider now owns 37,768 shares in the company, valued at $634,880.08. The trade was a 13.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the transaction, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at $6,553,075.92. This represents a 9.73 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company's stock.

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.