First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Stock Holdings Lowered by Champlain Investment Partners LLC

Champlain Investment Partners LLC cut its position in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 0.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,623,886 shares of the company’s stock after selling 5,344 shares during the quarter. Champlain Investment Partners LLC owned about 2.69% of First Watch Restaurant Group worth $25,333,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FWRG. Rocky Mountain Advisers LLC raised its holdings in shares of 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 buying an additional 4,250 shares during the last quarter. Quent Capital LLC acquired a new position in First Watch Restaurant Group during the 1st quarter worth $172,000. SG Americas Securities LLC bought a new position in shares of First Watch Restaurant Group in the third quarter worth $119,000. Janus Henderson Group PLC bought a new position in shares of First Watch Restaurant Group in the first quarter worth $226,000. Finally, Versor Investments LP bought a new stake in shares of First Watch Restaurant Group during the third quarter valued at about $201,000. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Stock Performance

Shares of NASDAQ FWRG opened at $18.24 on Friday. First Watch Restaurant Group, Inc. has a 52-week low of $12.90 and a 52-week high of $25.98. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 55.27, a PEG ratio of 5.21 and a beta of 0.85. The company has a quick ratio of 0.51, a current ratio of 0.54 and a debt-to-equity ratio of 0.32. The stock’s fifty day simple moving average is $16.51 and its 200 day simple moving average is $16.98.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its quarterly earnings data on Thursday, November 7th. The company reported $0.03 EPS for the quarter, missing analysts’ consensus estimates of $0.05 by ($0.02). The firm 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%. First Watch Restaurant Group’s quarterly revenue was up 14.8% compared to the same quarter last year. During the same period in the prior year, the company posted $0.09 earnings per share. As a group, sell-side analysts forecast that First Watch Restaurant Group, Inc. will post 0.31 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FWRG shares. Guggenheim decreased 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 report on Friday, October 4th. Barclays upped their price target 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. Raymond James boosted their target price on First Watch Restaurant Group from $22.00 to $25.00 and gave the stock a “strong-buy” rating in a report on Friday, November 8th. Piper Sandler upped their target price on First Watch Restaurant Group from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Monday, November 11th. Finally, TD Cowen lifted their price target on First Watch Restaurant Group from $18.00 to $21.00 and gave the company a “hold” rating in a research report 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 issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $23.30.

Insider Buying and Selling

In related news, major shareholder Advent Partners Gpe Viii Limit sold 8,000,000 shares of the stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $19.76, for a total value of $158,080,000.00. Following the completion of the sale, the insider now directly owns 19,189,784 shares of the company’s stock, valued at approximately $379,190,131.84. This represents a 29.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 5.00% of the company’s stock.

First Watch Restaurant Group Company Profile

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.