Traders Buy High Volume of Call Options on European Wax Center (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ) saw some unusual options trading activity on Monday. Stock traders purchased 15,427 call options on the stock. This represents an increase of approximately 1,074% compared to the typical volume of 1,314 call options.

Insider Buying and Selling at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the sale, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.14% of the stock is currently owned by insiders.

Hedge Funds Weigh In On European Wax Center

Several hedge funds and other institutional investors have recently made changes to their positions in EWCZ. FMR LLC increased its holdings in 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 purchasing an additional 428,280 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of European Wax Center in the second quarter valued at about $3,274,000. Landscape Capital Management L.L.C. acquired a new position in European Wax Center during the 3rd quarter worth approximately $1,231,000. Millennium Management LLC boosted its holdings in European Wax Center by 44.0% in the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after acquiring an additional 164,688 shares during the period. Finally, Massachusetts Financial Services Co. MA grew its position in European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after acquiring an additional 155,875 shares in the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

Analyst Upgrades and Downgrades

EWCZ has been the topic of a number of analyst reports. Telsey Advisory Group cut European Wax Center from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $8.00 to $6.00 in a report on Thursday, December 19th. Morgan Stanley reissued an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $7.36.

European Wax Center Trading Up 1.8 %

NASDAQ EWCZ opened at $6.35 on Tuesday. The firm has a market capitalization of $361.59 million, a price-to-earnings ratio of 27.61, 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. European Wax Center has a one year low of $4.80 and a one year high of $16.07. The company’s 50 day moving average price is $6.47 and its 200 day moving average price is $7.47.

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.