First Watch Restaurant Group, Inc. (NASDAQ:FWRG) Shares Purchased by Quent Capital LLC

Quent Capital LLC boosted its stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 28.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 9,000 shares of the company’s stock after purchasing an additional 2,000 shares during the period. Quent Capital LLC’s holdings in First Watch Restaurant Group were worth $158,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. purchased a new position in First Watch Restaurant Group in the 1st quarter valued at approximately $3,333,000. Gilder Gagnon Howe & Co. LLC boosted its position in First Watch Restaurant Group by 9.6% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 1,074,612 shares of the company’s stock valued at $21,600,000 after buying an additional 93,931 shares during the period. Stephens Investment Management Group LLC boosted its position in First Watch Restaurant Group by 16.5% in the 4th quarter. Stephens Investment Management Group LLC now owns 353,041 shares of the company’s stock valued at $7,096,000 after buying an additional 50,057 shares during the period. Deepwater Asset Management LLC boosted its position in First Watch Restaurant Group by 275.3% in the 1st quarter. Deepwater Asset Management LLC now owns 412,884 shares of the company’s stock valued at $10,165,000 after buying an additional 302,878 shares during the period. Finally, Primoris Wealth Advisors LLC purchased a new position in First Watch Restaurant Group in the 1st quarter valued at approximately $1,788,000. Institutional investors and hedge funds own 96.11% of the company’s stock.

First Watch Restaurant Group Stock Performance

FWRG traded up $1.58 on Tuesday, reaching $15.86. The company had a trading volume of 2,540,164 shares, compared to its average volume of 599,849. First Watch Restaurant Group, Inc. has a 1 year low of $14.05 and a 1 year high of $25.98. The stock has a market capitalization of $957.52 million, a PE ratio of 41.74, a P/E/G ratio of 2.15 and a beta of 0.88. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt-to-equity ratio of 0.21. The stock has a 50-day moving average price of $16.99 and a 200-day moving average price of $20.83.

First Watch Restaurant Group (NASDAQ:FWRG) last announced its quarterly earnings results on Tuesday, May 7th. The company reported $0.12 earnings per share for the quarter, beating analysts’ consensus estimates of $0.10 by $0.02. First Watch Restaurant Group had a net margin of 2.52% and a return on equity of 4.15%. The firm had revenue of $242.40 million during the quarter, compared to analysts’ expectations of $245.03 million. During the same period in the previous year, the company earned $0.15 earnings per share. First Watch Restaurant Group’s quarterly revenue was up 14.7% compared to the same quarter last year. As a group, research analysts forecast that First Watch Restaurant Group, Inc. will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FWRG has been the subject of several recent research reports. TD Cowen decreased their price target on shares of First Watch Restaurant Group from $21.00 to $18.00 and set a “hold” rating for the company in a research report on Wednesday, July 17th. Barclays decreased their price objective on shares of First Watch Restaurant Group from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Wednesday, May 8th. Bank of America decreased their price objective on shares of First Watch Restaurant Group from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Wednesday, July 17th. Finally, Stifel Nicolaus decreased their price objective on shares of First Watch Restaurant Group from $22.00 to $18.00 and set a “hold” rating for the company in a research report on Tuesday, July 2nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.00.

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.