First Watch Restaurant Group, Inc. $FWRG Shares Sold by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd cut its holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 58.6% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,700 shares of the company’s stock after selling 51,853 shares during the period. Dynamic Technology Lab Private Ltd owned about 0.06% of First Watch Restaurant Group worth $574,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of FWRG. Legal & General Group Plc lifted its stake in First Watch Restaurant Group by 1.6% in the second quarter. Legal & General Group Plc now owns 45,531 shares of the company’s stock valued at $730,000 after buying an additional 724 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in First Watch Restaurant Group by 4.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 23,016 shares of the company’s stock valued at $360,000 after purchasing an additional 934 shares during the period. First Horizon Advisors Inc. lifted its stake in First Watch Restaurant Group by 207.6% in the 2nd quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after acquiring an additional 1,316 shares in the last quarter. Police & Firemen s Retirement System of New Jersey grew its stake in shares of First Watch Restaurant Group by 17.3% in the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 9,108 shares of the company’s stock valued at $146,000 after buying an additional 1,341 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in 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. Institutional investors own 96.11% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on FWRG shares. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a report on Tuesday, February 10th. Citigroup lowered their target price on First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. TD Cowen dropped their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating for the company in a research note on Tuesday, February 24th. Piper Sandler reiterated an “overweight” rating and issued a $19.00 price target on shares of First Watch Restaurant Group in a research report on Tuesday, February 24th. Finally, DA Davidson assumed coverage on First Watch Restaurant Group in a report on Friday, March 6th. They set a “buy” rating and a $17.00 target price on the stock. One research 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. According to MarketBeat, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and an average target price of $19.75.

Insider Buying and Selling at First Watch Restaurant Group

In other news, Director William A. Kussell sold 6,165 shares of the firm’s stock in a transaction that occurred on Thursday, January 22nd. The shares were sold at an average price of $17.00, for a total value of $104,805.00. Following the sale, the director directly owned 26,402 shares in the company, valued at approximately $448,834. This trade represents a 18.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

First Watch Restaurant Group Price Performance

FWRG stock opened at $12.52 on Wednesday. The company’s 50-day moving average price is $15.39 and its two-hundred day moving average price is $16.45. The firm has a market cap of $765.47 million, a P/E ratio of 40.39, a P/E/G ratio of 2.55 and a beta of 0.92. 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 $11.88 and a 12 month high of $20.55.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings results 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 for the quarter, compared to analyst estimates of $317.49 million. First Watch Restaurant Group had a net margin of 1.59% and a return on equity of 3.20%. The firm’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same quarter last year, the business posted $0.01 EPS. On average, analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current fiscal year.

About First Watch Restaurant Group

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.