Atria Investments Inc Acquires 10,277 Shares of First Watch Restaurant Group, Inc. $FWRG

Atria Investments Inc lifted its holdings in shares of First Watch Restaurant Group, Inc. (NASDAQ:FWRG) by 84.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 22,423 shares of the company’s stock after buying an additional 10,277 shares during the period. Atria Investments Inc’s holdings in First Watch Restaurant Group were worth $360,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Emerald Mutual Fund Advisers Trust acquired a new position in First Watch Restaurant Group during the second quarter worth $4,147,000. Arkadios Wealth Advisors boosted its stake in shares of First Watch Restaurant Group by 12.2% during the 2nd quarter. Arkadios Wealth Advisors now owns 76,861 shares of the company’s stock worth $1,233,000 after acquiring an additional 8,358 shares in the last quarter. Emerald Advisers LLC acquired a new position in shares of First Watch Restaurant Group during the 2nd quarter valued at about $6,173,000. Oppenheimer Asset Management Inc. raised its stake in shares of First Watch Restaurant Group by 76.1% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 22,959 shares of the company’s stock valued at $368,000 after acquiring an additional 9,920 shares in the last quarter. Finally, Kornitzer Capital Management Inc. KS lifted its holdings in First Watch Restaurant Group by 5.8% in the 2nd quarter. Kornitzer Capital Management Inc. KS now owns 315,387 shares of the company’s stock worth $5,059,000 after purchasing an additional 17,220 shares during the last quarter. Institutional investors and hedge funds own 96.11% of the company’s stock.

Insider Activity

In other news, major shareholder International L.P. Advent sold 4,400,000 shares of the business’s stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $17.67, for a total transaction of $77,748,000.00. Following the sale, the insider directly owned 5,289,784 shares in the company, valued at approximately $93,470,483.28. The trade was a 45.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 6.00% of the company’s stock.

First Watch Restaurant Group Stock Down 1.6%

Shares of FWRG opened at $17.40 on Wednesday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.21 and a current ratio of 0.25. The company has a 50-day simple moving average of $16.96 and a 200-day simple moving average of $16.95. First Watch Restaurant Group, Inc. has a 52 week low of $12.90 and a 52 week high of $22.71. The firm has a market capitalization of $1.06 billion, a P/E ratio of 217.53, a P/E/G ratio of 10.25 and a beta of 0.88.

First Watch Restaurant Group (NASDAQ:FWRG) last issued its quarterly earnings results on Tuesday, November 4th. The company reported $0.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.03). The firm had revenue of $316.02 million for the quarter, compared to the consensus estimate of $308.31 million. First Watch Restaurant Group had a net margin of 0.42% and a return on equity of 0.83%. First Watch Restaurant Group has set its FY 2025 guidance at EPS. On average, equities research analysts expect that First Watch Restaurant Group, Inc. will post 0.32 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen raised First Watch Restaurant Group from a “sell” rating to a “hold” rating in a research report on Saturday. Weiss Ratings upgraded shares of First Watch Restaurant Group from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday. Bank of America cut their target price on shares of First Watch Restaurant Group from $23.00 to $21.00 and set a “buy” rating for the company in a research report on Friday, July 18th. Barclays upped their price target on shares of First Watch Restaurant Group from $20.00 to $21.00 and gave the company an “overweight” rating in a report on Thursday, July 17th. Finally, TD Cowen lifted their price objective on First Watch Restaurant Group from $19.00 to $21.00 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.09.

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.