Insider Selling: First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells 3,161 Shares of Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Jay Anthony Wolszczak sold 3,161 shares of the stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total transaction of $39,575.72. Following the transaction, the insider directly owned 228,930 shares of the company’s stock, valued at $2,866,203.60. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Jay Anthony Wolszczak also recently made the following trade(s):

• On Tuesday, March 10th, Jay Anthony Wolszczak sold 6,998 shares of First Watch Restaurant Group stock. The shares were sold at an average price of $12.59, for a total value of $88,104.82.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG traded up $0.07 on Thursday, hitting $12.39. 1,222,836 shares of the company’s stock were exchanged, compared to its average volume of 1,752,333. The firm has a market cap of $757.50 million, a price-to-earnings ratio of 39.97, a P/E/G ratio of 2.54 and a beta of 0.92. The firm’s 50-day moving average price is $14.99 and its two-hundred day moving average price is $16.18. First Watch Restaurant Group, Inc. has a fifty-two week low of $11.44 and a fifty-two week high of $20.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 EPS for the quarter, beating the consensus estimate of $0.08 by $0.16. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The business had revenue of $316.35 million during the quarter, compared to analysts’ expectations of $317.49 million. During the same period last year, the firm earned $0.01 EPS. The company’s quarterly revenue was up 20.2% compared to the same quarter last year. On average, research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Institutional Trading of First Watch Restaurant Group

Large investors have recently bought and sold shares of the company. Jones Financial Companies Lllp purchased a new position in shares of First Watch Restaurant Group in the third quarter valued at $30,000. Rockefeller Capital Management L.P. purchased a new stake in shares of First Watch Restaurant Group in the 4th quarter worth about $63,000. State of Wyoming acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at about $64,000. Kemnay Advisory Services Inc. acquired a new stake in First Watch Restaurant Group in the 4th quarter valued at about $66,000. Finally, BNP Paribas Financial Markets increased its holdings in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after acquiring an additional 1,673 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

Analyst Ratings Changes

FWRG has been the subject of a number of recent analyst reports. Zacks Research raised First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target on shares of First Watch Restaurant Group in a report on Tuesday, February 24th. DA Davidson started coverage on shares of First Watch Restaurant Group in a research note on Friday, March 6th. They issued a “buy” rating and a $17.00 price objective for the company. Barclays decreased their price objective on shares of First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Finally, Stephens lowered their target price on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

First Watch Restaurant Group Company Profile

First Watch Restaurant Group, Inc (NASDAQ: FWRG) operates a specialty daytime dining concept focused on breakfast, brunch and lunch. The company’s casual, full-service cafés emphasize fresh ingredients, made-to-order entrées and a seasonally driven menu that ranges from omelets and Benedicts to salads, skillets and afternoon sandwiches. First Watch positions itself as a daytime-only destination, with most locations opening early morning and closing by mid-afternoon.

Founded in 1983 by Ken Pendery and John Sullivan in Pacific Grove, California, First Watch began as a single café and gradually expanded through company-owned and select franchised locations.