First Watch Restaurant Group (NASDAQ:FWRG) Insider Matthew Eisenacher Sells 6,070 Shares

First Watch Restaurant Group, Inc. (NASDAQ:FWRG) insider Matthew Eisenacher sold 6,070 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $12.59, for a total value of $76,421.30. Following the sale, the insider directly owned 69,983 shares of the company’s stock, valued at $881,085.97. This represents a 7.98% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link.

First Watch Restaurant Group Trading Down 1.6%

First Watch Restaurant Group stock traded down $0.19 during mid-day trading on Friday, hitting $11.51. The company’s stock had a trading volume of 451,059 shares, compared to its average volume of 1,785,806. 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 company has a 50 day moving average of $15.27 and a 200-day moving average of $16.39. First Watch Restaurant Group, Inc. has a one year low of $11.50 and a one year high of $20.55. The stock has a market cap of $703.84 million, a PE ratio of 37.17, a P/E/G ratio of 2.50 and a beta of 0.92.

First Watch Restaurant Group (NASDAQ:FWRG) last released its earnings results on Tuesday, February 24th. The company reported $0.24 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.16. The business had revenue of $316.35 million during the quarter, compared to the consensus estimate of $317.49 million. First Watch Restaurant Group had a return on equity of 3.20% and a net margin of 1.59%.The business’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period last year, the company earned $0.01 earnings per share. On average, research analysts anticipate that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Key First Watch Restaurant Group News

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

• Negative Sentiment: CFO H. Melville Hope III sold 7,358 shares at an average price of $12.59 (?$92,637), reducing his stake by ~5.98%. This trade from the company’s top finance officer tends to draw extra investor attention. CFO Form 4
• Negative Sentiment: Jay Anthony Wolszczak sold 6,998 shares at $12.59 (?$88,105), a ~2.93% reduction in his holding. Form 4
• Negative Sentiment: Matthew Eisenacher sold 6,070 shares at $12.59 (?$76,421), cutting his position by ~7.98%. Form 4
• Negative Sentiment: Laura Anne Sorensen sold 4,732 shares at $12.59 (?$59,576), a ~1.94% trim to her holding. Form 4
• Negative Sentiment: John Daniel Jones sold 4,600 shares at $12.59 (?$57,914), reducing his stake by ~5.05%. Form 4

Wall Street Analyst Weigh In

A number of equities analysts have commented on FWRG shares. Weiss Ratings restated a “hold (c-)” rating on shares of First Watch Restaurant Group in a research note on Monday, December 29th. TD Cowen lowered their price target on First Watch Restaurant Group from $21.00 to $18.00 and set a “buy” rating for the company in a report on Tuesday, February 24th. Guggenheim dropped their price objective on First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Piper Sandler restated an “overweight” rating and set a $19.00 price objective on shares of First Watch Restaurant Group in a report on Tuesday, February 24th. Finally, Stephens decreased their target price on First Watch Restaurant Group from $24.00 to $21.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, First Watch Restaurant Group presently has a consensus rating of “Moderate Buy” and a consensus price target of $19.75.

Institutional Investors Weigh In On First Watch Restaurant Group

Large investors have recently modified their holdings of the business. Jones Financial Companies Lllp bought a new position in shares of First Watch Restaurant Group during the third quarter valued at approximately $30,000. First Horizon Advisors Inc. raised its stake in First Watch Restaurant Group by 207.6% in the second quarter. First Horizon Advisors Inc. now owns 1,950 shares of the company’s stock worth $31,000 after buying an additional 1,316 shares in the last quarter. State of Wyoming purchased a new stake in First Watch Restaurant Group during the fourth quarter worth $64,000. Kemnay Advisory Services Inc. purchased a new stake in First Watch Restaurant Group during the fourth quarter worth $66,000. Finally, BNP Paribas Financial Markets boosted its position in First Watch Restaurant Group by 61.9% during the 2nd quarter. BNP Paribas Financial Markets now owns 4,375 shares of the company’s stock valued at $70,000 after acquiring an additional 1,673 shares in the last quarter. Institutional investors own 96.11% of the company’s stock.

First Watch Restaurant Group Company 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.