WCM Investment Management LLC Has $17.55 Million Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

WCM Investment Management LLC boosted its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 44.2% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 947,240 shares of the company’s stock after purchasing an additional 290,173 shares during the period. WCM Investment Management LLC’s holdings in First Watch Restaurant Group were worth $17,552,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. SG Americas Securities LLC purchased a new position in shares of First Watch Restaurant Group during the 3rd quarter valued at $119,000. Wesbanco Bank Inc. boosted its position in First Watch Restaurant Group by 41.1% during the third quarter. Wesbanco Bank Inc. now owns 68,699 shares of the company’s stock valued at $1,072,000 after purchasing an additional 20,000 shares during the last quarter. Raymond James & Associates grew its stake in First Watch Restaurant Group by 26.1% in the third quarter. Raymond James & Associates now owns 285,007 shares of the company’s stock valued at $4,446,000 after purchasing an additional 58,994 shares in the last quarter. Deepwater Asset Management LLC increased its position in First Watch Restaurant Group by 15.4% in the 3rd quarter. Deepwater Asset Management LLC now owns 802,625 shares of the company’s stock worth $12,521,000 after purchasing an additional 106,976 shares during the last quarter. Finally, Rice Hall James & Associates LLC raised its stake in shares of First Watch Restaurant Group by 164.0% during the 3rd quarter. Rice Hall James & Associates LLC now owns 87,799 shares of the company’s stock worth $1,370,000 after purchasing an additional 54,546 shares in the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

Insider Transactions at First Watch Restaurant Group

In other news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the transaction, the insider now owns 19,189,784 shares in the company, valued at approximately $379,190,131.84. The trade was a 29.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 5.00% of the company’s stock.

Wall Street Analyst Weigh In

FWRG has been the subject of several recent research reports. TD Cowen boosted their price target on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research note on Friday, November 8th. Stephens reissued an “overweight” rating and issued a $25.00 target price on shares of First Watch Restaurant Group in a research report on Tuesday, January 28th. Raymond James raised their price target on shares of First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a report on Friday, November 8th. Piper Sandler lifted their price objective on shares of First Watch Restaurant Group from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Monday, November 11th. Finally, Barclays increased their target price on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, First Watch Restaurant Group currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

First Watch Restaurant Group Stock Down 1.8 %

FWRG stock opened at $21.00 on Monday. The stock has a market capitalization of $1.27 billion, a price-to-earnings ratio of 63.64, a price-to-earnings-growth ratio of 3.50 and a beta of 0.91. The company has a 50-day moving average of $19.45 and a two-hundred day moving average of $17.51. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98. The company has a debt-to-equity ratio of 0.32, a current ratio of 0.54 and a quick ratio of 0.51.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its earnings results on Thursday, November 7th. The company reported $0.03 earnings per share for the quarter, missing the consensus estimate of $0.05 by ($0.02). The business had revenue of $251.61 million for the quarter, compared to the consensus estimate of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. First Watch Restaurant Group’s revenue for the quarter was up 14.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.09 EPS. As a group, equities research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

First Watch Restaurant Group Profile

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.