Teachers Retirement System of The State of Kentucky Boosts Stock Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Teachers Retirement System of The State of Kentucky increased its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 34.5% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,017 shares of the company’s stock after buying an additional 21,054 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.13% of European Wax Center worth $1,115,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in EWCZ. Swiss National Bank raised its holdings in shares of European Wax Center by 2.4% during the 3rd quarter. Swiss National Bank now owns 77,600 shares of the company’s stock worth $1,257,000 after acquiring an additional 1,800 shares during the period. Charles Schwab Investment Management Inc. raised its stake in European Wax Center by 186.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 268,417 shares of the company’s stock worth $4,348,000 after purchasing an additional 174,812 shares during the period. Trexquant Investment LP acquired a new position in European Wax Center in the 3rd quarter valued at about $340,000. Bamco Inc. NY grew its stake in shares of European Wax Center by 18.5% in the 3rd quarter. Bamco Inc. NY now owns 4,126,159 shares of the company’s stock valued at $66,844,000 after buying an additional 642,726 shares during the period. Finally, Advantage Alpha Capital Partners LP grew its stake in shares of European Wax Center by 30.2% in the 3rd quarter. Advantage Alpha Capital Partners LP now owns 170,613 shares of the company’s stock valued at $2,764,000 after buying an additional 39,563 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Price Performance

EWCZ opened at $10.71 on Monday. The stock’s 50-day moving average price is $11.27 and its 200 day moving average price is $13.06. European Wax Center, Inc. has a 12-month low of $10.23 and a 12-month high of $20.00. The firm has a market cap of $651.49 million, a price-to-earnings ratio of 42.84, a PEG ratio of 2.13 and a beta of 1.22. The company has a current ratio of 2.95, a quick ratio of 2.31 and a debt-to-equity ratio of 3.10.

European Wax Center (NASDAQ:EWCZ) last issued its quarterly earnings results on Wednesday, May 15th. The company reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.06. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. The business had revenue of $51.87 million for the quarter, compared to analysts’ expectations of $51.88 million. As a group, sell-side analysts expect that European Wax Center, Inc. will post 0.3 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EWCZ. Truist Financial decreased their price objective on European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $16.00 price target on shares of European Wax Center in a research note on Thursday, May 30th. Citigroup cut their price objective on European Wax Center from $19.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Finally, Bank of America decreased their target price on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a research report on Thursday, May 16th. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, European Wax Center has a consensus rating of “Moderate Buy” and an average price target of $16.33.

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.