Verition Fund Management LLC Reduces Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Verition Fund Management LLC lowered its holdings in European Wax Center, Inc. (NASDAQ:EWCZ) by 70.4% in the third quarter, HoldingsChannel reports. The firm owned 40,230 shares of the company’s stock after selling 95,712 shares during the period. Verition Fund Management LLC’s holdings in European Wax Center were worth $274,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Algert Global LLC raised its position in shares of European Wax Center by 720.4% in the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock valued at $756,000 after purchasing an additional 97,590 shares in the last quarter. Millennium Management LLC raised its holdings in European Wax Center by 44.0% in the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after acquiring an additional 164,688 shares in the last quarter. FMR LLC boosted its stake in European Wax Center by 18.9% during 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 during the last quarter. Massachusetts Financial Services Co. MA grew its holdings in European Wax Center by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after acquiring an additional 155,875 shares in the last quarter. Finally, Walleye Capital LLC bought a new stake in shares of European Wax Center in the 3rd quarter worth about $754,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

European Wax Center Trading Up 3.2 %

Shares of NASDAQ EWCZ opened at $6.04 on Friday. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $16.07. The company has a market cap of $343.94 million, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 2.35 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. The stock’s 50 day simple moving average is $6.73 and its 200 day simple moving average is $7.92.

Wall Street Analysts Forecast Growth

EWCZ has been the topic of several research analyst reports. Bank of America reduced their price target 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. Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average 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.