SRH Advisors LLC Has $227,000 Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

SRH Advisors LLC increased its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 84.3% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 12,185 shares of the company’s stock after purchasing an additional 5,575 shares during the period. SRH Advisors LLC’s holdings in First Watch Restaurant Group were worth $227,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Rocky Mountain Advisers LLC increased its holdings in shares of 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 during the period. SG Americas Securities LLC bought a new position in First Watch Restaurant Group during the third quarter valued at about $119,000. XTX Topco Ltd bought a new position in First Watch Restaurant Group during the third quarter valued at about $157,000. Versor Investments LP acquired a new position in First Watch Restaurant Group in the 3rd quarter valued at approximately $201,000. Finally, Commerce Bank bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter worth approximately $208,000. Institutional investors own 96.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Stephens restated 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. Raymond James boosted their price target on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Benchmark reaffirmed a “buy” rating and set a $23.00 price objective on shares of First Watch Restaurant Group in a report on Wednesday, October 16th. TD Cowen upped their target price on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Finally, Piper Sandler raised their price target 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. Two research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $23.30.

First Watch Restaurant Group Stock Performance

NASDAQ FWRG opened at $20.48 on Wednesday. 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 50 day moving average of $19.53 and a 200-day moving average of $17.59. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 62.06, a PEG ratio of 3.50 and a beta of 0.91.

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.