European Wax Center, Inc. (NASDAQ:EWCZ) Stock Position Decreased by Quest Partners LLC

Quest Partners LLC cut its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 39.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,140 shares of the company’s stock after selling 7,300 shares during the period. Quest Partners LLC’s holdings in European Wax Center were worth $76,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in European Wax Center by 1.6% during 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. Teachers Retirement System of The State of Kentucky increased its position in shares of European Wax Center by 16.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock worth $1,240,000 after acquiring an additional 13,497 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock valued at $369,000 after acquiring an additional 31,022 shares during the period. Victory Capital Management Inc. lifted its position in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after acquiring an additional 11,650 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in European Wax Center by 2.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after purchasing an additional 81,704 shares during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America reduced their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Telsey Advisory Group reissued an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a research note on Thursday, November 14th. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research note on Friday, November 15th. Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $5.50 in a research report on Thursday, August 15th. Finally, Truist Financial lowered their price objective 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 Thursday, August 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $7.64.

European Wax Center Stock Up 1.3 %

Shares of European Wax Center stock opened at $6.01 on Friday. The firm has a market cap of $342.21 million, a price-to-earnings ratio of 26.13, a P/E/G ratio of 2.27 and a beta of 1.11. The stock has a 50-day simple moving average of $6.89 and a 200-day simple moving average of $8.30. European Wax Center, Inc. has a 52-week low of $4.80 and a 52-week high of $16.07. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42.

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.