12,900 Shares in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Bought by Versor Investments LP

Versor Investments LP purchased a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 12,900 shares of the company’s stock, valued at approximately $201,000.

Other hedge funds have also modified their holdings of the company. Quent Capital LLC purchased a new stake in First Watch Restaurant Group in the first quarter valued at approximately $172,000. Swiss National Bank lifted its stake in First Watch Restaurant Group by 22.3% during the 1st quarter. Swiss National Bank now owns 64,600 shares of the company’s stock valued at $1,590,000 after acquiring an additional 11,800 shares during the period. Sei Investments Co. boosted its holdings in shares of First Watch Restaurant Group by 6.5% in the 1st quarter. Sei Investments Co. now owns 29,162 shares of the company’s stock valued at $718,000 after acquiring an additional 1,783 shares during the last quarter. Russell Investments Group Ltd. increased its stake in shares of First Watch Restaurant Group by 44.0% in the first quarter. Russell Investments Group Ltd. now owns 26,030 shares of the company’s stock worth $641,000 after acquiring an additional 7,952 shares during the period. Finally, Vanguard Group Inc. raised its holdings in shares of First Watch Restaurant Group by 18.8% during the first quarter. Vanguard Group Inc. now owns 1,611,452 shares of the company’s stock worth $39,674,000 after purchasing an additional 255,307 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $18.22 on Friday. 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 stock has a market capitalization of $1.10 billion, a PE ratio of 55.21, a P/E/G ratio of 5.70 and a beta of 0.85. First Watch Restaurant Group, Inc. has a fifty-two week low of $12.90 and a fifty-two week high of $25.98. The company has a fifty day moving average of $16.26 and a two-hundred day moving average of $17.21.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $251.61 million during the quarter, compared to analysts’ expectations of $256.17 million. During the same period in the prior year, the business posted $0.09 earnings per share. The company’s quarterly revenue was up 14.8% compared to the same quarter last year. As a group, research analysts forecast that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have commented on FWRG. Guggenheim lowered their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating on the stock in a report on Friday, October 4th. Raymond James raised their target price on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Benchmark reiterated a “buy” rating and set a $23.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Piper Sandler upped their price objective on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, TD Cowen lifted their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Insider Buying and Selling at First Watch Restaurant Group

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total value of $158,080,000.00. Following the completion of the sale, the insider now owns 19,189,784 shares in the company, valued at approximately $379,190,131.84. This represents a 29.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 5.00% of the stock is currently owned by insiders.

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.