Cubist Systematic Strategies LLC Sells 93,940 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Cubist Systematic Strategies LLC lowered its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 53.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 82,510 shares of the company’s stock after selling 93,940 shares during the quarter. Cubist Systematic Strategies LLC owned 0.14% of European Wax Center worth $819,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Diversified Trust Co grew its stake in shares of European Wax Center by 41.0% in the first quarter. Diversified Trust Co now owns 31,540 shares of the company’s stock worth $409,000 after purchasing an additional 9,175 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock valued at $369,000 after buying an additional 31,022 shares during the period. Bessemer Group Inc. raised its holdings in shares of European Wax Center by 14.2% during the first quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock valued at $643,000 after acquiring an additional 6,170 shares in the last quarter. Victory Capital Management Inc. lifted its stake in European Wax Center by 25.7% in the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after acquiring an additional 11,650 shares during the period. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in European Wax Center by 34.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company’s stock valued at $1,115,000 after acquiring an additional 21,054 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Telsey Advisory Group restated an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a report on Friday, September 20th. Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Robert W. Baird reduced their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Bank of America lowered their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Truist Financial decreased their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, European Wax Center currently has an average rating of “Moderate Buy” and an average target price of $7.64.

European Wax Center Stock Down 0.6 %

Shares of NASDAQ:EWCZ opened at $6.76 on Friday. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $16.76. The stock has a market capitalization of $411.21 million, a price-to-earnings ratio of 27.04, a PEG ratio of 2.36 and a beta of 1.13. The stock has a fifty day simple moving average of $7.09 and a two-hundred day simple moving average of $9.74. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18.

European Wax Center (NASDAQ:EWCZ) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $59.87 million for the quarter, compared to analysts’ expectations of $61.27 million. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. On average, research analysts anticipate that European Wax Center, Inc. will post 0.24 earnings per share for the current fiscal year.

European Wax Center Company Profile

European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. It offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. The company was founded in 2004 and is headquartered in Plano, Texas.