European Wax Center, Inc. (NASDAQ:EWCZ) Stock Position Lifted by Geode Capital Management LLC

Geode Capital Management LLC boosted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 3.9% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 820,728 shares of the company’s stock after buying an additional 30,804 shares during the quarter. Geode Capital Management LLC owned approximately 1.37% of European Wax Center worth $5,582,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EWCZ. Dark Forest Capital Management LP purchased a new stake in shares of European Wax Center during the second quarter worth $127,000. Algert Global LLC bought a new position in shares of European Wax Center in the second quarter valued at approximately $135,000. SG Americas Securities LLC bought a new stake in shares of European Wax Center during the 3rd quarter worth $93,000. Royce & Associates LP acquired a new position in European Wax Center in the 3rd quarter valued at $108,000. Finally, Aigen Investment Management LP bought a new position in European Wax Center in the 3rd quarter worth $114,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

Insider Activity at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the business’s stock in a transaction on Tuesday, December 17th. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.14% of the stock is currently owned by insiders.

European Wax Center Trading Up 2.7 %

Shares of European Wax Center stock opened at $6.53 on Friday. European Wax Center, Inc. has a 52-week low of $4.80 and a 52-week high of $16.07. The firm has a market capitalization of $371.84 million, a PE ratio of 28.39, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The company’s fifty day moving average price is $6.43 and its two-hundred day moving average price is $7.34.

Wall Street Analyst Weigh In

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

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.