Fmr LLC Raises Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Fmr LLC lifted its position in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 18.9% in the third quarter, Holdings Channel reports. The firm owned 2,697,742 shares of the company’s stock after purchasing an additional 428,280 shares during the period. Fmr LLC’s holdings in European Wax Center were worth $18,345,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of EWCZ. Dark Forest Capital Management LP purchased a new position in European Wax Center in the 2nd quarter worth approximately $127,000. Algert Global LLC acquired a new position in shares of European Wax Center in the 2nd quarter valued at approximately $135,000. SG Americas Securities LLC acquired a new position in shares of European Wax Center in the 3rd quarter valued at approximately $93,000. Royce & Associates LP acquired a new position in shares of European Wax Center in the 3rd quarter valued at approximately $108,000. Finally, Aigen Investment Management LP acquired a new position in shares of European Wax Center in the 3rd quarter valued at approximately $114,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

European Wax Center Stock Down 3.9 %

Shares of European Wax Center stock opened at $6.16 on Wednesday. The stock has a 50-day moving average price of $6.78 and a 200 day moving average price of $8.00. The company has a market cap of $350.77 million, a P/E ratio of 26.78, a P/E/G ratio of 2.45 and a beta of 1.01. 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, Inc. has a 1 year low of $4.80 and a 1 year high of $16.07.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EWCZ. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Truist Financial dropped their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Robert W. Baird dropped their price target on 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. Telsey Advisory Group reissued an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research report on Thursday, November 14th. Finally, Citigroup lowered European Wax Center from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $16.00 to $5.50 in a research report on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, European Wax Center currently has a consensus rating of “Hold” and a consensus price target of $7.64.

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.