Insider Selling: First Watch Restaurant Group, Inc. (NASDAQ:FWRG) CEO Sells $706,675.59 in Stock

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) CEO Christopher Anthony Tomasso sold 42,039 shares of the business’s stock in a transaction dated Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value 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. The trade was a 9.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First Watch Restaurant Group Price Performance

First Watch Restaurant Group stock opened at $16.49 on Monday. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 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. The business’s 50 day simple moving average is $19.77 and its 200 day simple moving average is $18.13. The company has a market cap of $1.00 billion, a price-to-earnings ratio of 49.97, a PEG ratio of 3.38 and a beta of 0.91.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Tuesday, March 11th. The company reported $0.01 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 firm had revenue of $263.30 million during the quarter, compared to analysts’ expectations of $262.82 million. During the same quarter in the previous year, the company posted $0.04 EPS. First Watch Restaurant Group’s revenue for the quarter was up 7.6% on a year-over-year basis. Sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Institutional Investors Weigh In On First Watch Restaurant Group

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Versor Investments LP bought a new position in shares of First Watch Restaurant Group in the third quarter worth $201,000. Mutual of America Capital Management LLC purchased a new stake in shares of First Watch Restaurant Group in the third quarter worth $5,757,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of First Watch Restaurant Group in the third quarter worth $1,566,000. Commerce Bank purchased a new stake in shares of First Watch Restaurant Group in the third quarter worth $208,000. Finally, Charles Schwab Investment Management Inc. raised its position 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 buying an additional 45,119 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on FWRG. Barclays reiterated an “overweight” rating and set a $21.00 price target (down previously from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Stephens reiterated an “overweight” rating and set a $25.00 price target on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. TD Securities reiterated a “hold” rating and set a $21.00 price target on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Bank of America boosted their target price on First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, March 12th. Finally, Benchmark restated a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, First Watch Restaurant Group has an average rating of “Moderate Buy” and a consensus target price 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.