WCM Investment Management LLC Grows Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

WCM Investment Management LLC increased its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) by 44.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 947,240 shares of the company's stock after purchasing an additional 290,173 shares during the period. WCM Investment Management LLC owned approximately 1.56% of First Watch Restaurant Group worth $17,552,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Rocky Mountain Advisers LLC increased its position in First Watch Restaurant Group by 180.1% in the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company's stock worth $103,000 after purchasing an additional 4,250 shares during the last quarter. SG Americas Securities LLC bought a new position in First Watch Restaurant Group during the third quarter valued at $119,000. XTX Topco Ltd bought a new position in First Watch Restaurant Group during the third quarter valued at $157,000. Versor Investments LP bought a new position in First Watch Restaurant Group during the third quarter valued at $201,000. Finally, Commerce Bank bought a new position in First Watch Restaurant Group during the third quarter valued at $208,000. Institutional investors own 96.11% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FWRG. Barclays boosted their price objective on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an "overweight" rating in a research report on Friday, November 8th. Raymond James boosted their price objective on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a "strong-buy" rating in a research report on Friday, November 8th. Benchmark reiterated a "buy" rating and set a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Piper Sandler boosted their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an "overweight" rating in a research report on Monday, November 11th. Finally, Stephens reiterated an "overweight" rating and set a $25.00 price objective on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $23.30.

First Watch Restaurant Group Stock Up 5.1 %

NASDAQ:FWRG traded up $1.00 during mid-day trading on Thursday, reaching $20.50. The company's stock had a trading volume of 447,204 shares, compared to its average volume of 463,693. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $25.98. The stock has a fifty day moving average of $19.55 and a 200-day moving average of $17.62. The firm has a market capitalization of $1.24 billion, a PE ratio of 62.12, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32.

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.