Advent International L.P. Sells 9,400,000 Shares of First Watch Restaurant Group, Inc. $FWRG

Advent International L.P. cut its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 64.0% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,289,784 shares of the company’s stock after selling 9,400,000 shares during the period. First Watch Restaurant Group makes up about 1.7% of Advent International L.P.’s holdings, making the stock its 10th biggest position. Advent International L.P. owned 8.67% of First Watch Restaurant Group worth $82,732,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Legal & General Group Plc raised its holdings in First Watch Restaurant Group by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock worth $730,000 after buying an additional 724 shares during the period. PNC Financial Services Group Inc. boosted its holdings in shares of First Watch Restaurant Group by 4.2% in the third quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock worth $360,000 after buying an additional 934 shares during the period. Police & Firemen s Retirement System of New Jersey boosted its holdings in shares of First Watch Restaurant Group by 17.3% in the second quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock worth $146,000 after buying an additional 1,341 shares during the period. BNP Paribas Financial Markets increased its position in shares of First Watch Restaurant Group by 61.9% in the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock worth $70,000 after acquiring an additional 1,673 shares in the last quarter. Finally, Jones Financial Companies Lllp purchased a new position in shares of First Watch Restaurant Group in the third quarter worth approximately $30,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

Key First Watch Restaurant Group News

Here are the key news stories impacting First Watch Restaurant Group this week:

• Positive Sentiment: Recent quarterly results showed an EPS beat (reported $0.24 vs. $0.08 consensus) and ~20% year-over-year revenue growth, which supports the company’s near-term fundamentals. Earnings & company page
• Positive Sentiment: Analyst coverage remains largely constructive — multiple Buy/Overweight ratings and an average target (~$19.75) sit well above the current price, indicating upside if execution continues. Analyst note
• Neutral Sentiment: Institutional ownership is very high (~96%), which can reduce retail-driven volatility but means flows from large holders will disproportionately move the stock. Institutional holdings
• Neutral Sentiment: Valuation and liquidity: FWRG sits below its 50- and 200-day moving averages and near its 52-week low; balance-sheet ratios (low current/quick ratios) and modest near-term margins mean upside may require sustained margin improvement. Financial snapshot
• Negative Sentiment: CFO insider sale: CFO H. Melville Hope III sold 7,358 shares at $12.59 on March 10 (≈6% reduction in his stake). High‑profile officer selling often raises short-term investor concern. CFO Form 4
• Negative Sentiment: Multiple other insider trims: Several executives (Jay Wolszczak, Matthew Eisenacher, John D. Jones, Laura Sorensen) sold between ~4,600–7,000 shares each at $12.59 on March 10, collectively reducing positions and pressuring market sentiment. Sample Form 4

Insider Buying and Selling

In other First Watch Restaurant Group news, insider Jay Anthony Wolszczak sold 6,998 shares of the company’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total value of $88,104.82. Following the transaction, the insider directly owned 232,091 shares of the company’s stock, valued at $2,922,025.69. This represents a 2.93% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO H Melville Hope III sold 7,358 shares of the firm’s stock in a transaction dated Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total value of $92,637.22. Following the sale, the chief financial officer directly owned 115,665 shares of the company’s stock, valued at $1,456,222.35. This trade represents a 5.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 35,923 shares of company stock worth $479,458. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup reduced their price target on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings reiterated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research report on Monday, December 29th. Guggenheim cut their target price on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Piper Sandler restated an “overweight” rating and issued a $19.00 target price on shares of First Watch Restaurant Group in a report on Tuesday, February 24th. Finally, TD Cowen decreased their target price on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating for the company in a research report on Tuesday, February 24th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $19.75.

First Watch Restaurant Group Trading Down 1.5%

First Watch Restaurant Group stock opened at $11.53 on Friday. The company’s fifty day simple moving average is $15.19 and its 200-day simple moving average is $16.32. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 0.43. First Watch Restaurant Group, Inc. has a 12 month low of $11.44 and a 12 month high of $20.55. The stock has a market cap of $704.94 million, a P/E ratio of 37.19, a P/E/G ratio of 2.32 and a beta of 0.92.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, February 24th. The company reported $0.24 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.16. The business had revenue of $316.35 million during the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.First Watch Restaurant Group’s quarterly revenue was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. As a group, sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

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.