First Watch Restaurant Group (NASDAQ:FWRG) Insider Laura Anne Sorensen Sells 1,697 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Laura Anne Sorensen sold 1,697 shares of the business’s stock in a transaction dated Tuesday, March 17th. The stock was sold at an average price of $12.52, for a total value of $21,246.44. Following the completion of the transaction, the insider owned 237,353 shares in the company, valued at approximately $2,971,659.56. This trade represents a 0.71% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Laura Anne Sorensen also recently made the following trade(s):

• On Tuesday, March 10th, Laura Anne Sorensen sold 4,732 shares of First Watch Restaurant Group stock. The stock was sold at an average price of $12.59, for a total value of $59,575.88.

First Watch Restaurant Group Stock Down 0.2%

Shares of FWRG stock traded down $0.02 during mid-day trading on Friday, reaching $12.37. 100,204 shares of the company were exchanged, compared to its average volume of 1,720,656. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.25 and a current ratio of 0.29. The business’s 50 day simple moving average is $14.93 and its 200 day simple moving average is $16.16. The company has a market capitalization of $756.24 million, a P/E ratio of 39.69, a P/E/G ratio of 2.48 and a beta of 0.92. First Watch Restaurant Group, Inc. has a fifty-two week low of $11.44 and a fifty-two week 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, beating the consensus estimate of $0.08 by $0.16. The firm had revenue of $316.35 million for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 20.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. Research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Hedge Funds Weigh In On First Watch Restaurant Group

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Jones Financial Companies Lllp bought a new position in First Watch Restaurant Group in the 3rd quarter worth approximately $30,000. Rockefeller Capital Management L.P. bought a new position in shares of First Watch Restaurant Group in the fourth quarter worth $63,000. State of Wyoming bought a new position in shares of First Watch Restaurant Group in the fourth quarter worth $64,000. Kemnay Advisory Services Inc. acquired a new position in shares of First Watch Restaurant Group during the fourth quarter valued at $66,000. Finally, BNP Paribas Financial Markets raised its stake in shares of First Watch Restaurant Group by 61.9% during the second quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after purchasing an additional 1,673 shares in the last quarter. 96.11% of the stock is currently owned by institutional investors and hedge funds.

More First Watch Restaurant Group News

Here are the key news stories impacting First Watch Restaurant Group this week:

• Negative Sentiment: CEO Christopher Tomasso sold 25,062 shares for ≈$313,776, reducing his stake by ~2.55% while still retaining ~957,315 shares. SEC Filing
• Negative Sentiment: CFO H. Melville Hope III sold 3,878 shares for ≈$48,553 (≈3.35% reduction). SEC Filing
• Negative Sentiment: Director/insider Jay Anthony Wolszczak sold 3,161 shares for ≈$39,576 (≈1.36% reduction). SEC Filing
• Negative Sentiment: Insider Matthew Eisenacher sold 2,760 shares for ≈$34,555 (≈3.94% reduction). SEC Filing
• Negative Sentiment: Laura Anne Sorensen sold 1,697 shares for ≈$21,246 (≈0.71% reduction). SEC Filing
• Negative Sentiment: John Daniel Jones sold 1,697 shares for ≈$21,246 (≈1.96% reduction). SEC Filing

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Piper Sandler reaffirmed an “overweight” rating and issued a $19.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, February 24th. Citigroup reduced their price target on shares of First Watch Restaurant Group from $26.00 to $21.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Barclays lowered their price objective on shares of First Watch Restaurant Group from $19.00 to $17.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Zacks Research upgraded shares of First Watch Restaurant Group from a “strong sell” rating to a “hold” rating in a research note on Tuesday, February 10th. Finally, Stephens cut their target price on shares of First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, First Watch Restaurant Group has an average rating of “Moderate Buy” and an average target price of $19.75.

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.