Jay Anthony Wolszczak Sells 5,743 Shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group 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 transaction, the insider now directly owns 37,768 shares of the company’s stock, valued at $634,880.08. This trade represents a 13.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

First Watch Restaurant Group Stock Performance

FWRG traded up $0.03 during midday trading on Friday, reaching $16.45. The company had a trading volume of 630,335 shares, compared to its average volume of 640,908. The business has a 50-day moving average of $19.89 and a two-hundred day moving average of $18.13. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 1 year low of $12.90 and a 1 year high of $25.98. The company has a market cap of $996.38 million, a P/E ratio of 49.85, a P/E/G ratio of 3.38 and a beta of 0.90.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The company had revenue of $263.30 million for the quarter, compared to the consensus estimate of $262.82 million. During the same quarter last year, the firm posted $0.04 earnings per share. The company’s revenue was up 7.6% compared to the same quarter last year. As a group, equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

Institutional Trading of First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Versor Investments LP purchased a new position in shares of First Watch Restaurant Group during the 3rd quarter valued at $201,000. Mutual of America Capital Management LLC bought a new stake in First Watch Restaurant Group during the third quarter valued at about $5,757,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of First Watch Restaurant Group in the third quarter valued at about $1,566,000. Commerce Bank bought a new position in shares of First Watch Restaurant Group in the third quarter worth about $208,000. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of First Watch Restaurant Group by 21.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 251,403 shares of the company’s stock worth $3,922,000 after acquiring an additional 45,119 shares during the period. 96.11% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently issued reports on FWRG shares. Barclays reaffirmed an “overweight” rating and issued a $21.00 price objective (down from $24.00) on shares of First Watch Restaurant Group in a research report on Tuesday. Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday. Bank of America lifted their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday. TD Securities restated a “hold” rating and set a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday. Finally, Sanford C. Bernstein set a $21.00 price objective on First Watch Restaurant Group in a research report on Tuesday. Three research 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 stock. According to MarketBeat, First Watch Restaurant Group has an average rating of “Moderate Buy” and an average target price of $22.36.

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.