Cerity Partners LLC Purchases New Position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)
Cerity Partners LLC acquired a new stake in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 16,672 shares of the company's stock, valued at approximately $308,000.
A number of other institutional investors have also recently added to or reduced their stakes in the business. Assetmark Inc. lifted its stake in shares of First Watch Restaurant Group by 68.7% in the 4th quarter. Assetmark Inc. now owns 2,455 shares of the company's stock valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth about $51,000. Venturi Wealth Management LLC acquired a new stake in shares of First Watch Restaurant Group in the fourth quarter worth about $81,000. American Century Companies Inc. bought a new stake in shares of First Watch Restaurant Group during the 4th quarter worth about $200,000. Finally, Oppenheimer Asset Management Inc. acquired a new position in shares of First Watch Restaurant Group during the 4th quarter valued at about $204,000. 96.11% of the stock is currently owned by institutional investors and hedge funds.
In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 42,039 shares of the stock in a transaction on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total transaction of $706,675.59. Following the completion of the transaction, the chief executive officer now directly owns 389,832 shares in the company, valued at $6,553,075.92. This represents a 9.73 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Jay Anthony Wolszczak sold 5,743 shares of the business's stock in a transaction on Wednesday, March 12th. The shares were sold at an average price of $16.81, for a total transaction of $96,539.83. Following the completion of the sale, the insider now owns 37,768 shares in the company, valued at $634,880.08. This represents a 13.20 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 5.00% of the company's stock.
Shares of FWRG stock opened at $20.04 on Thursday. First Watch Restaurant Group, Inc. has a 12 month low of $12.90 and a 12 month high of $25.98. The company has a market capitalization of $1.22 billion, a P/E ratio of 60.73, a P/E/G ratio of 3.38 and a beta of 1.02. The stock has a 50 day moving average of $18.36 and a two-hundred day moving average of $18.50. 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 (NASDAQ:FWRG - Get Free Report) last posted its quarterly earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share for the quarter, missing analysts' consensus estimates of $0.02 by ($0.01). First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The business had revenue of $263.30 million for the quarter, compared to analyst estimates of $262.82 million. During the same quarter in the prior year, the firm earned $0.04 EPS. The firm's quarterly revenue was up 7.6% on a year-over-year basis. As a group, equities analysts expect that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.
A number of equities research analysts have issued reports on FWRG shares. Stephens reaffirmed an "overweight" rating and set a $24.00 target price on shares of First Watch Restaurant Group in a research report on Thursday, March 20th. TD Securities upgraded shares of First Watch Restaurant Group from a "hold" rating to a "buy" rating and raised their target price for the company from $21.00 to $22.00 in a research note on Tuesday, April 1st. Benchmark reissued a "buy" rating on shares of First Watch Restaurant Group in a research report on Wednesday, March 12th. Bank of America raised their price target on First Watch Restaurant Group from $27.00 to $28.00 and gave the company a "buy" rating in a research report on Wednesday, March 12th. Finally, Sanford C. Bernstein set a $21.00 price objective on First Watch Restaurant Group in a research report on Tuesday, March 11th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $22.73.
Read Our Latest Stock Analysis on FWRG
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.
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