XTX Topco Ltd Buys New Holdings in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

XTX Topco Ltd purchased a new position in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,051 shares of the company’s stock, valued at approximately $157,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Rocky Mountain Advisers LLC lifted its holdings in shares of First Watch Restaurant Group by 180.1% during the 3rd quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock worth $103,000 after acquiring an additional 4,250 shares during the period. SG Americas Securities LLC bought a new position in First Watch Restaurant Group during the third quarter worth about $119,000. Versor Investments LP bought a new position in First Watch Restaurant Group during the third quarter worth about $201,000. Commerce Bank bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $208,000. Finally, Walleye Capital LLC bought a new stake in shares of First Watch Restaurant Group in the 3rd quarter valued at approximately $215,000. Institutional investors own 96.11% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FWRG. Raymond James raised their target price on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a research report on Friday, November 8th. Stephens upped their target price on shares of First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a report on Friday, November 8th. Barclays lifted their price target on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the company an “overweight” rating in a report on Friday, November 8th. TD Cowen upped their price objective on shares of First Watch Restaurant Group from $18.00 to $21.00 and gave the stock a “hold” rating in a research note on Friday, November 8th. Finally, Guggenheim cut their target price on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research note on Friday, October 4th. Two investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

Insider Buying and Selling at First Watch Restaurant Group

In related news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the business’s stock in a transaction that occurred on 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 completion of 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ:FWRG opened at $18.61 on Friday. The stock has a market capitalization of $1.13 billion, a P/E ratio of 56.40, a P/E/G ratio of 5.77 and a beta of 0.89. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. First Watch Restaurant Group, Inc. has a 1-year low of $12.90 and a 1-year high of $25.98. The business has a 50-day moving average price of $18.11 and a two-hundred day moving average price of $16.91.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The business had revenue of $251.61 million for the quarter, compared to analyst estimates of $256.17 million. During the same period in the prior year, the firm posted $0.09 EPS. First Watch Restaurant Group’s revenue was up 14.8% on a year-over-year basis. Equities analysts predict that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current year.

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.