First Watch Restaurant Group (NASDAQ:FWRG) Insider Sells $21,246.44 in Stock
by Michael Walen · The Markets DailyFirst Watch Restaurant Group, Inc. (NASDAQ:FWRG – Get Free Report) insider John Daniel Jones sold 1,697 shares of the stock in a transaction that occurred on Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total value of $21,246.44. Following the sale, the insider directly owned 84,725 shares of the company’s stock, valued at $1,060,757. The trade was a 1.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.
John Daniel Jones also recently made the following trade(s):
- On Tuesday, March 10th, John Daniel Jones sold 4,600 shares of First Watch Restaurant Group stock. The shares were sold at an average price of $12.59, for a total value of $57,914.00.
First Watch Restaurant Group Stock Performance
Shares of NASDAQ:FWRG traded up $0.07 during trading on Thursday, reaching $12.39. The company had a trading volume of 1,222,836 shares, compared to its average volume of 1,752,333. First Watch Restaurant Group, Inc. has a fifty-two week low of $11.44 and a fifty-two week high of $20.55. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.29 and a quick ratio of 0.25. The stock’s fifty day moving average price is $14.99 and its 200 day moving average price is $16.18. The firm has a market capitalization of $757.50 million, a price-to-earnings ratio of 39.97, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92.
First Watch Restaurant Group (NASDAQ:FWRG – Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.16. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The firm had revenue of $316.35 million during the quarter, compared to the consensus estimate of $317.49 million. During the same period last year, the company earned $0.01 earnings per share. The company’s revenue for the quarter was up 20.2% on a year-over-year basis. As a group, equities research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.
Analyst Upgrades and Downgrades
Several analysts have recently weighed in on FWRG shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of First Watch Restaurant Group in a report on Monday, December 29th. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Tuesday, February 10th. TD Cowen lowered their price objective on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating on the stock in a report on Tuesday, February 24th. Barclays dropped their target price on First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. Finally, Piper Sandler reissued an “overweight” rating and set a $19.00 target price on shares of First Watch Restaurant Group in a research note on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $19.75.
Check Out Our Latest Analysis on FWRG
Institutional Trading of First Watch Restaurant Group
Several hedge funds and other institutional investors have recently made changes to their positions in FWRG. Jones Financial Companies Lllp purchased a new stake in First Watch Restaurant Group during the third quarter worth about $30,000. Rockefeller Capital Management L.P. purchased a new position in First Watch Restaurant Group in the fourth quarter valued at about $63,000. State of Wyoming purchased a new position in First Watch Restaurant Group in the fourth quarter valued at about $64,000. Kemnay Advisory Services Inc. acquired a new stake in shares of First Watch Restaurant Group during the 4th quarter valued at approximately $66,000. Finally, BNP Paribas Financial Markets boosted its stake in shares of First Watch Restaurant Group by 61.9% during the 2nd 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 and hedge funds own 96.11% of the company’s stock.
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.