First Watch Restaurant Group, Inc. $FWRG Shares Sold by Riverbridge Partners LLC

Riverbridge Partners LLC trimmed its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 7.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,188,534 shares of the company’s stock after selling 91,010 shares during the period. Riverbridge Partners LLC owned about 1.95% of First Watch Restaurant Group worth $18,589,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in FWRG. Squarepoint Ops LLC increased its holdings in First Watch Restaurant Group by 217.9% in the 2nd quarter. Squarepoint Ops LLC now owns 86,637 shares of the company’s stock valued at $1,390,000 after purchasing an additional 59,381 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in shares of First Watch Restaurant Group by 435.5% during the second quarter. Tower Research Capital LLC TRC now owns 7,277 shares of the company’s stock worth $117,000 after buying an additional 5,918 shares during the period. Captrust Financial Advisors acquired a new stake in shares of First Watch Restaurant Group in the second quarter valued at $545,000. Manatuck Hill Partners LLC acquired a new stake in shares of First Watch Restaurant Group in the second quarter valued at $3,208,000. Finally, Lazard Asset Management LLC raised its holdings in shares of First Watch Restaurant Group by 13.4% in the 2nd quarter. Lazard Asset Management LLC now owns 2,281,137 shares of the company’s stock valued at $36,589,000 after buying an additional 269,726 shares during the period. Hedge funds and other institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Price Performance

Shares of NASDAQ FWRG opened at $16.22 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 0.25 and a quick ratio of 0.21. The company has a market cap of $989.97 million, a price-to-earnings ratio of 202.79, a price-to-earnings-growth ratio of 9.76 and a beta of 0.86. The stock’s 50-day moving average is $17.24 and its two-hundred day moving average is $17.04. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $22.71.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. The company had revenue of $316.02 million during the quarter, compared to analysts’ expectations of $308.31 million. Analysts forecast that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FWRG shares. Wall Street Zen upgraded First Watch Restaurant Group from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research raised shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research report on Friday, October 24th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 15th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $21.09.

First Watch Restaurant Group 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.