First Watch Restaurant Group, Inc. (NASDAQ:FWRG) CEO Christopher Anthony Tomasso Sells 42,039 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) CEO Christopher Anthony Tomasso sold 42,039 shares of the company’s stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the sale, 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

First Watch Restaurant Group Stock Performance

NASDAQ:FWRG opened at $16.49 on Friday. 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 firm’s fifty day simple moving average is $19.77 and its 200 day simple moving average is $18.12. The stock has a market cap of $998.80 million, a P/E ratio of 49.97, a price-to-earnings-growth ratio of 3.38 and a beta of 0.90. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.98.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts’ expectations of $262.82 million. During the same quarter in the prior year, the firm earned $0.04 EPS. First Watch Restaurant Group’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in FWRG. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in First Watch Restaurant Group in the fourth quarter worth $377,000. Squarepoint Ops LLC boosted its holdings in shares of First Watch Restaurant Group by 42.8% during the 4th quarter. Squarepoint Ops LLC now owns 243,101 shares of the company’s stock valued at $4,524,000 after buying an additional 72,829 shares in the last quarter. Two Sigma Advisers LP purchased a new stake in shares of First Watch Restaurant Group in the 4th quarter worth about $947,000. Two Sigma Investments LP increased its stake in shares of First Watch Restaurant Group by 159.3% in the 4th quarter. Two Sigma Investments LP now owns 211,865 shares of the company’s stock worth $3,943,000 after acquiring an additional 130,169 shares in the last quarter. Finally, State of Wyoming lifted its position in First Watch Restaurant Group by 212.6% during the 4th quarter. State of Wyoming now owns 3,214 shares of the company’s stock valued at $60,000 after acquiring an additional 2,186 shares during the period. Institutional investors own 96.11% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FWRG. Benchmark reissued a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday. Sanford C. Bernstein set a $21.00 target price on First Watch Restaurant Group in a report on Tuesday. Stephens reaffirmed an “overweight” rating and issued a $25.00 price target on shares of First Watch Restaurant Group in a research note on Tuesday. TD Securities reiterated a “hold” rating and issued a $21.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday. Finally, Bank of America raised their target price on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $22.36.

About First Watch Restaurant Group

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.