Wellington Management Group LLP Sells 2,994,295 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Wellington Management Group LLP decreased its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 92.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 250,000 shares of the company’s stock after selling 2,994,295 shares during the quarter. Wellington Management Group LLP’s holdings in European Wax Center were worth $1,700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the stock. FMR LLC raised its position in shares of 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 during the period. Marshall Wace LLP acquired a new stake in European Wax Center in the second quarter worth $3,274,000. Landscape Capital Management L.L.C. bought a new position in shares of European Wax Center during the third quarter worth $1,231,000. Millennium Management LLC grew its holdings in shares of European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after buying an additional 164,688 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its position in shares of European Wax Center by 4.9% in the 3rd 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. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Stock Down 4.1 %

NASDAQ:EWCZ opened at $5.56 on Thursday. The stock has a 50-day simple moving average of $6.65 and a 200 day simple moving average of $7.80. European Wax Center, Inc. has a 52-week low of $4.80 and a 52-week high of $16.07. The company has a market cap of $316.60 million, a PE ratio of 24.17, a PEG ratio of 2.35 and a beta of 1.01. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Morgan Stanley reiterated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a report on Friday, November 15th. Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $8.00 target price on shares of European Wax Center in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $7.64.

European Wax Center 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.