Insider Selling: First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director Sells 8,386 Shares of Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Director William A. Kussell sold 8,386 shares of the firm’s stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $22.10, for a total value of $185,330.60. Following the completion of the sale, the director now owns 12,409 shares in the company, valued at $274,238.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

First Watch Restaurant Group Trading Up 2.1 %

FWRG traded up $0.47 during trading on Tuesday, hitting $22.75. The company’s stock had a trading volume of 299,358 shares, compared to its average volume of 466,726. First Watch Restaurant Group, Inc. has a twelve month low of $14.74 and a twelve month high of $25.88. The firm’s 50 day moving average price is $23.95 and its 200-day moving average price is $20.71. The company has a debt-to-equity ratio of 0.21, a current ratio of 0.62 and a quick ratio of 0.57. The stock has a market cap of $1.37 billion, a PE ratio of 54.64, a PEG ratio of 2.07 and a beta of 1.12.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, March 5th. The company reported $0.04 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.04. First Watch Restaurant Group had a return on equity of 4.62% and a net margin of 2.85%. The firm had revenue of $244.60 million for the quarter, compared to analysts’ expectations of $237.20 million. During the same quarter last year, the firm earned ($0.01) earnings per share. The firm’s revenue for the quarter was up 31.7% compared to the same quarter last year. On average, analysts expect that First Watch Restaurant Group, Inc. will post 0.46 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FWRG has been the topic of several research analyst reports. Raymond James raised their target price on First Watch Restaurant Group from $23.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Thursday, January 25th. Barclays increased their target price on shares of First Watch Restaurant Group from $23.00 to $29.00 and gave the company an “overweight” rating in a research report on Wednesday, March 6th. Citigroup boosted their price target on shares of First Watch Restaurant Group from $24.00 to $32.00 and gave the company a “buy” rating in a research report on Wednesday, March 6th. TD Cowen reaffirmed a “hold” rating and set a $26.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, April 10th. Finally, Stifel Nicolaus boosted their target price on First Watch Restaurant Group from $20.00 to $22.00 and gave the company a “hold” rating in a report on Wednesday, March 6th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, First Watch Restaurant Group currently has an average rating of “Moderate Buy” and a consensus price target of $26.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. DekaBank Deutsche Girozentrale purchased a new position in First Watch Restaurant Group in the third quarter valued at about $35,000. PNC Financial Services Group Inc. raised its stake in shares of First Watch Restaurant Group by 3,232.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 2,233 shares of the company’s stock valued at $39,000 after purchasing an additional 2,166 shares in the last quarter. Sunbelt Securities Inc. acquired a new stake in shares of First Watch Restaurant Group during the first quarter worth $65,000. iA Global Asset Management Inc. bought a new position in shares of First Watch Restaurant Group in the 3rd quarter worth about $95,000. Finally, C M Bidwell & Associates Ltd. acquired a new position in First Watch Restaurant Group in the third quarter valued at approximately $119,000. 96.11% of the stock is currently owned by hedge funds and other institutional investors.

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.