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Advent International, L.P., a ten percent owner of First Watch Restaurant Group, Inc. (NASDAQ:FWRG), sold 4,400,000 shares of common stock on September 8, 2025. The shares were sold at a price of $17.67, for a total transaction value of $77,748,000. The transaction price aligns closely with the current market price of $17.69, with the stock trading at notably high earnings multiples according to InvestingPro data.
Following the transaction, Advent International manages funds that collectively own 5,289,784 shares of First Watch Restaurant Group.
The sales were executed by various entities affiliated with Advent International, including Advent International GPE VIII Limited Partnership, Advent International GPE VIII-B-1 Limited Partnership, and others.
Neil Crawford, Vice President of Finance at Advent International GP, LLC, signed the Form 4 on behalf of both Advent International, L.P. and Advent International GP, LLC. The company has shown strong revenue growth of 14.5% over the last twelve months, though it operates with significant debt obligations.
In other recent news, First Watch Restaurant Group reported its financial results for the second quarter of 2025, which showed mixed performance. The company experienced a notable earnings per share (EPS) miss, reporting $0.03 against the forecasted $0.06, a 50% shortfall. However, revenue slightly surpassed expectations, totaling $307.9 million compared to the projected $306.6 million. Despite the earnings miss, the company’s revenue performance was a positive aspect for investors to consider. Additionally, Stifel maintained its Hold rating on First Watch with a price target of $17.00. The research firm’s analyst, Chris O’Cull, suggested a neutral outlook on the stock’s near-term performance. These developments provide investors with crucial insights into the company’s current financial standing and market perception.
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