Algert Global LLC Purchases 97,590 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Algert Global LLC increased its position in European Wax Center, Inc. (NASDAQ:EWCZ) by 720.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,137 shares of the company’s stock after acquiring an additional 97,590 shares during the quarter. Algert Global LLC owned about 0.19% of European Wax Center worth $756,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EWCZ. Millennium Management LLC increased its stake in shares of European Wax Center by 44.0% in 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 during the period. Vanguard Group Inc. increased its position in European Wax Center by 1.6% in the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after buying an additional 29,918 shares during the period. Marshall Wace LLP acquired a new position in shares of European Wax Center during the second quarter worth approximately $3,274,000. Victory Capital Management Inc. lifted its holdings in shares of European Wax Center by 78.3% during the third quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock worth $691,000 after buying an additional 44,653 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its position 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 acquiring an additional 155,875 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Trading Up 1.3 %

Shares of EWCZ opened at $6.01 on Friday. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The stock has a market cap of $342.21 million, a PE ratio of 26.13, a PEG ratio of 2.27 and a beta of 1.11. European Wax Center, Inc. has a 1 year low of $4.80 and a 1 year high of $16.07. The stock has a 50 day simple moving average of $6.89 and a 200-day simple moving average of $8.30.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Truist Financial cut their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Telsey Advisory Group reiterated an “outperform” rating and issued a $8.00 target price on shares of European Wax Center in a research note on Thursday, November 14th. Robert W. Baird lowered their price target on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. Finally, Bank of America lowered their price objective on 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, European Wax Center currently has a consensus rating of “Hold” and an average price target of $7.64.

About European Wax Center

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.