Geode Capital Management LLC Has $5.58 Million Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Geode Capital Management LLC lifted its holdings in European Wax Center, Inc. (NASDAQ:EWCZ) by 3.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 820,728 shares of the company’s stock after acquiring an additional 30,804 shares during the quarter. Geode Capital Management LLC’s holdings in European Wax Center were worth $5,582,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its stake in shares of European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after buying an additional 155,875 shares in the last quarter. FMR LLC increased its position in European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after acquiring an additional 428,280 shares in the last quarter. Southpoint Capital Advisors LP raised its stake in shares of European Wax Center by 5.3% in the third quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after acquiring an additional 100,000 shares during the last quarter. Millennium Management LLC lifted its position in shares of European Wax Center by 44.0% during the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of European Wax Center during the second quarter valued at approximately $3,274,000. 82.14% of the stock is currently owned by institutional investors.

Insider Activity at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction that occurred on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the transaction, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.14% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on EWCZ shares. Morgan Stanley restated an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. Telsey Advisory Group cut European Wax Center from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $8.00 to $6.00 in a report on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, European Wax Center presently has a consensus rating of “Hold” and an average target price of $7.36.

European Wax Center Trading Up 2.7 %

NASDAQ:EWCZ opened at $6.53 on Friday. The firm has a market capitalization of $371.84 million, a price-to-earnings ratio of 28.39, a PEG ratio of 2.35 and a beta of 1.01. European Wax Center, Inc. has a 1-year low of $4.80 and a 1-year high of $16.07. The business’s 50-day moving average price is $6.43 and its two-hundred day moving average price is $7.34. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81.

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.