Mutual of America Capital Management LLC Makes New $5.76 Million Investment in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Mutual of America Capital Management LLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 369,014 shares of the company's stock, valued at approximately $5,757,000. Mutual of America Capital Management LLC owned about 0.61% of First Watch Restaurant Group as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Rocky Mountain Advisers LLC grew its stake in First Watch Restaurant Group by 180.1% during the 3rd 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 in the last quarter. SG Americas Securities LLC purchased a new stake in shares of First Watch Restaurant Group during the third quarter worth approximately $119,000. Quent Capital LLC raised its holdings in First Watch Restaurant Group by 28.6% in the second quarter. Quent Capital LLC now owns 9,000 shares of the company's stock valued at $158,000 after acquiring an additional 2,000 shares in the last quarter. Versor Investments LP purchased a new position in First Watch Restaurant Group in the third quarter worth approximately $201,000. Finally, Janus Henderson Group PLC purchased a new stake in shares of First Watch Restaurant Group in the 1st quarter valued at approximately $226,000. Institutional investors and hedge funds own 96.11% of the company's stock.

Insiders Place Their Bets

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 that occurred on Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the transaction, the insider now owns 19,189,784 shares of the company's stock, valued at $379,190,131.84. This trade represents a 29.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 5.00% of the stock is currently owned by insiders.

First Watch Restaurant Group Price Performance

Shares of FWRG stock traded down $0.09 during trading hours on Wednesday, hitting $17.08. The company's stock had a trading volume of 309,200 shares, compared to its average volume of 614,870. The business has a fifty day moving average of $16.34 and a 200-day moving average of $17.05. The stock has a market cap of $1.03 billion, a price-to-earnings ratio of 52.03, a P/E/G ratio of 5.35 and a beta of 0.85. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.98. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32.

First Watch Restaurant Group (NASDAQ:FWRG - Get Free Report) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same quarter last year, the business posted $0.09 EPS. The firm's revenue was up 14.8% compared to the same quarter last year. As a group, equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

A number of brokerages recently commented on FWRG. Piper Sandler boosted their target price on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an "overweight" rating in a research note on Monday, November 11th. Raymond James boosted their target price on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a "strong-buy" rating in a research note on Friday, November 8th. Guggenheim decreased their price objective on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a "buy" rating for the company in a research note on Friday, October 4th. Stephens upped their price objective on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the company an "overweight" rating in a research note on Friday, November 8th. Finally, Benchmark restated a "buy" rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research note on Wednesday, October 16th. 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. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.30.

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.