Jane Street Group LLC Grows Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Jane Street Group LLC boosted its stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 1.1% during the third quarter, HoldingsChannel.com reports. The firm owned 49,358 shares of the company’s stock after acquiring an additional 551 shares during the period. Jane Street Group LLC’s holdings in First Watch Restaurant Group were worth $770,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Rocky Mountain Advisers LLC grew its position in First Watch Restaurant Group by 180.1% during the third quarter. Rocky Mountain Advisers LLC now owns 6,610 shares of the company’s stock valued at $103,000 after acquiring an additional 4,250 shares during the period. SG Americas Securities LLC acquired a new position in shares of First Watch Restaurant Group in the 3rd quarter valued at about $119,000. Versor Investments LP purchased a new stake in shares of First Watch Restaurant Group during the 3rd quarter worth about $201,000. Commerce Bank acquired a new stake in First Watch Restaurant Group during the 3rd quarter worth approximately $208,000. Finally, Walleye Capital LLC acquired a new stake in First Watch Restaurant Group during the 3rd quarter worth approximately $215,000. 96.11% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other First Watch Restaurant Group news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total transaction of $158,080,000.00. Following the sale, the insider now owns 19,189,784 shares in the company, valued at $379,190,131.84. This represents a 29.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 5.00% of the stock is owned by company insiders.

First Watch Restaurant Group Trading Up 1.0 %

Shares of FWRG opened at $18.79 on Friday. First Watch Restaurant Group, Inc. has a one year low of $12.90 and a one year high of $25.98. The stock has a 50-day moving average price of $18.69 and a 200 day moving average price of $16.94. The company has a debt-to-equity ratio of 0.32, a quick ratio of 0.51 and a current ratio of 0.54. The company has a market capitalization of $1.14 billion, a P/E ratio of 56.94, a P/E/G ratio of 5.77 and a beta of 0.89.

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 the consensus estimate of $0.05 by ($0.02). The business had revenue of $251.61 million for the quarter, compared to analysts’ expectations of $256.17 million. First Watch Restaurant Group had a net margin of 2.09% and a return on equity of 3.61%. The business’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same quarter last year, the company posted $0.09 earnings per share. Sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FWRG shares. Barclays boosted their price objective on shares of First Watch Restaurant Group from $18.00 to $22.00 and gave the stock an “overweight” rating in a research note on Friday, November 8th. Guggenheim decreased their price target on shares of First Watch Restaurant Group from $24.00 to $20.00 and set a “buy” rating for the company in a research report on Friday, October 4th. Benchmark reissued a “buy” rating and issued a $23.00 price objective on shares of First Watch Restaurant Group in a research report on Wednesday, October 16th. Stephens upped their target price on First Watch Restaurant Group from $20.00 to $25.00 and gave the stock an “overweight” rating in a research report on Friday, November 8th. Finally, Raymond James increased their target price on First Watch Restaurant Group from $22.00 to $25.00 and gave the company a “strong-buy” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $23.30.

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.