Tudor Investment Corp ET AL Invests $2.92 Million in First Watch Restaurant Group, Inc. (NASDAQ:FWRG)

Tudor Investment Corp ET AL acquired a new stake in First Watch Restaurant Group, Inc. (NASDAQ:FWRG) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 157,107 shares of the company’s stock, valued at approximately $2,924,000.

A number of other large investors have also recently added to or reduced their stakes in FWRG. Penn Capital Management Company LLC grew its position in shares of First Watch Restaurant Group by 34.7% in the fourth quarter. Penn Capital Management Company LLC now owns 735,486 shares of the company’s stock valued at $13,687,000 after purchasing an additional 189,597 shares during the last quarter. Price T Rowe Associates Inc. MD purchased a new stake in First Watch Restaurant Group in the 4th quarter valued at approximately $225,000. MetLife Investment Management LLC grew its holdings in First Watch Restaurant Group by 15.8% during the 4th quarter. MetLife Investment Management LLC now owns 20,768 shares of the company’s stock valued at $386,000 after buying an additional 2,841 shares during the last quarter. Mesirow Institutional Investment Management Inc. purchased a new position in First Watch Restaurant Group during the fourth quarter worth $15,506,000. Finally, Dimensional Fund Advisors LP raised its holdings in shares of First Watch Restaurant Group by 15.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,923,901 shares of the company’s stock worth $35,804,000 after acquiring an additional 259,517 shares during the last quarter. 96.11% of the stock is owned by institutional investors and hedge funds.

First Watch Restaurant Group Price Performance

FWRG stock opened at $18.59 on Friday. The company has a market cap of $1.13 billion, a PE ratio of 56.34, a price-to-earnings-growth ratio of 3.38 and a beta of 1.02. The company has a current ratio of 0.54, a quick ratio of 0.51 and a debt-to-equity ratio of 0.32. The stock has a 50-day moving average price of $18.04 and a two-hundred day moving average price of $18.73. First Watch Restaurant Group, Inc. has a 12-month low of $12.90 and a 12-month high of $25.85.

First Watch Restaurant Group (NASDAQ:FWRG) last posted its earnings results on Tuesday, March 11th. The company reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.01). The business had revenue of $263.30 million for the quarter, compared to analyst estimates of $262.82 million. First Watch Restaurant Group had a return on equity of 3.61% and a net margin of 2.09%. The firm’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $0.04 EPS. As a group, research analysts predict that First Watch Restaurant Group, Inc. will post 0.32 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently commented on the company. TD Cowen raised First Watch Restaurant Group from a “hold” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Tuesday, April 1st. Bank of America lifted their price target on shares of First Watch Restaurant Group from $27.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, March 12th. Barclays upped their price objective on shares of First Watch Restaurant Group from $21.00 to $24.00 and gave the company an “overweight” rating in a research note on Tuesday, April 22nd. TD Securities raised shares of First Watch Restaurant Group from a “hold” rating to a “buy” rating and lifted their target price for the stock from $21.00 to $22.00 in a research note on Tuesday, April 1st. Finally, Sanford C. Bernstein set a $21.00 price target on First Watch Restaurant Group in a research note on Tuesday, March 11th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $22.73.

Insider Activity

In other First Watch Restaurant Group news, CEO Christopher Anthony Tomasso sold 42,039 shares of the company’s stock in a transaction that occurred on Wednesday, March 12th. The stock was sold at an average price of $16.81, for a total value of $706,675.59. Following the completion of the transaction, the chief executive officer now owns 389,832 shares in the company, valued at $6,553,075.92. This represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jay Anthony Wolszczak sold 5,743 shares of First Watch Restaurant Group stock in a transaction that occurred 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 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. Insiders own 6.00% 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.