Intech Investment Management LLC Purchases New Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Intech Investment Management LLC bought a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 16,055 shares of the company's stock, valued at approximately $299,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in FWRG. JPMorgan Chase & Co. raised its stake in shares of First Watch Restaurant Group by 22.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,986,425 shares of the company's stock valued at $30,988,000 after acquiring an additional 366,227 shares in the last quarter. ArrowMark Colorado Holdings LLC acquired a new stake in shares of First Watch Restaurant Group in the third quarter worth $5,120,000. Point72 Asset Management L.P. bought a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth $4,719,000. WCM Investment Management LLC grew its stake in First Watch Restaurant Group by 44.2% in the 4th quarter. WCM Investment Management LLC now owns 947,240 shares of the company's stock valued at $17,552,000 after buying an additional 290,173 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in First Watch Restaurant Group by 14.4% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,533,290 shares of the company's stock worth $23,919,000 after acquiring an additional 192,471 shares during the period. Institutional investors and hedge funds own 96.11% of the company's stock.

Insiders Place Their Bets

In related news, CEO Christopher Anthony Tomasso sold 42,039 shares of the firm's stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the transaction, the chief executive officer now directly owns 389,832 shares of the company's stock, valued at $6,553,075.92. This trade represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the company's stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $96,539.83. Following the completion of the sale, the insider now directly owns 37,768 shares of the company's stock, valued at $634,880.08. The trade was a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 5.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on FWRG shares. TD Securities reaffirmed a "hold" rating and issued a $21.00 price target on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Stephens reaffirmed an "overweight" rating and issued a $24.00 price target on shares of First Watch Restaurant Group in a research report on Thursday, March 20th. Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Sanford C. Bernstein set a $21.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, March 11th. Finally, Barclays reissued an "overweight" rating and issued a $21.00 price target (down from $24.00) on shares of First Watch Restaurant Group in a report on Tuesday, March 11th. Three investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $22.27.

First Watch Restaurant Group Trading Down 2.9 %

NASDAQ FWRG traded down $0.51 on Friday, reaching $16.86. The company had a trading volume of 459,385 shares, compared to its average volume of 660,432. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The stock has a market cap of $1.02 billion, a price-to-earnings ratio of 51.09, a PEG ratio of 3.38 and a beta of 0.91. The stock's 50 day moving average is $19.36 and its 200-day moving average is $18.18. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates 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 firm had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. During the same period in the prior year, the business earned $0.04 earnings per share. The company's revenue for the quarter was up 7.6% compared to the same quarter last year. Equities analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

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.