Natixis Advisors LLC Invests $226,000 in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Natixis Advisors LLC bought a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the fourth quarter, Holdings Channel.com reports. The firm bought 12,145 shares of the company’s stock, valued at approximately $226,000.

A number of other large investors also recently bought and sold shares of FWRG. Assetmark Inc. grew its holdings in shares of First Watch Restaurant Group by 68.7% in the fourth quarter. Assetmark Inc. now owns 2,455 shares of the company’s stock valued at $46,000 after purchasing an additional 1,000 shares in the last quarter. Venturi Wealth Management LLC purchased a new stake in First Watch Restaurant Group during the 4th quarter valued at approximately $81,000. XTX Topco Ltd purchased a new position in First Watch Restaurant Group in the 3rd quarter valued at $157,000. Oppenheimer Asset Management Inc. purchased a new position in First Watch Restaurant Group during the fourth quarter worth about $204,000. Finally, Walleye Capital LLC purchased a new stake in shares of First Watch Restaurant Group in the third quarter valued at approximately $215,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $16.86 on Friday. First Watch Restaurant Group, Inc. has a twelve month low of $12.90 and a twelve month high of $25.98. The business has a 50 day simple moving average of $19.36 and a 200-day simple moving average of $18.15. 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 company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 51.09, a price-to-earnings-growth ratio of 3.38 and a beta of 0.91.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.01). The company had revenue of $263.30 million during the quarter, compared to analyst estimates of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. First Watch Restaurant Group’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.04 earnings per share. As a group, equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Insider Transactions at First Watch Restaurant Group

In other news, CEO Christopher Anthony Tomasso sold 42,039 shares of First Watch Restaurant Group stock in a transaction that occurred on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total value of $706,675.59. Following the transaction, the chief executive officer now owns 389,832 shares of the company’s stock, valued at $6,553,075.92. The trade was a 9.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the firm’s stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $96,539.83. Following the sale, the insider now directly owns 37,768 shares of the company’s stock, valued at approximately $634,880.08. This represents a 13.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 5.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on FWRG shares. Benchmark reissued a “buy” rating on shares of First Watch Restaurant Group in a research note on Wednesday, March 12th. Barclays reiterated an “overweight” rating and issued a $21.00 target price (down from $24.00) on shares of First Watch Restaurant Group in a research note on Tuesday, March 11th. Stephens restated an “overweight” rating and set a $24.00 price objective on shares of First Watch Restaurant Group in a report on Thursday, March 20th. Bank of America increased their price objective on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, March 12th. Finally, TD Securities restated a “hold” rating and issued a $21.00 price target on shares of First Watch Restaurant Group in a report on Wednesday, March 12th. Three research analysts have rated the stock with a hold rating, six have given 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 an average target price of $22.27.

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.