Massachusetts Financial Services Co. MA Grows Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Massachusetts Financial Services Co. MA boosted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 4.9% in the third quarter, Holdings Channel.com reports. The firm owned 3,334,532 shares of the company’s stock after acquiring an additional 155,875 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.06% of European Wax Center worth $22,675,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of EWCZ. SG Americas Securities LLC acquired a new position in European Wax Center during the third quarter valued at approximately $93,000. Royce & Associates LP acquired a new position in European Wax Center during the third quarter valued at approximately $108,000. Aigen Investment Management LP acquired a new position in European Wax Center during the third quarter valued at approximately $114,000. Dark Forest Capital Management LP acquired a new position in European Wax Center during the second quarter valued at approximately $127,000. Finally, Algert Global LLC acquired a new position in European Wax Center during the second quarter valued at approximately $135,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EWCZ has been the topic of a number of recent research reports. Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research report on Thursday, November 14th. Robert W. Baird reduced their target price on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research report on Thursday, August 15th. Citigroup cut shares of European Wax Center from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $16.00 to $5.50 in a research report on Thursday, August 15th. Bank of America reduced their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, Morgan Stanley reissued an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.64.

European Wax Center Trading Up 7.6 %

EWCZ opened at $6.34 on Tuesday. The stock has a market capitalization of $361.00 million, a PE ratio of 27.57, a P/E/G ratio of 2.25 and a beta of 1.11. The firm’s fifty day moving average price is $6.97 and its 200 day moving average price is $8.37. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $16.07.

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.