JPMorgan Chase & Co. Cuts Stock Position in European Wax Center, Inc. (NASDAQ:EWCZ)

JPMorgan Chase & Co. reduced its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 82.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,064 shares of the company’s stock after selling 69,476 shares during the period. JPMorgan Chase & Co.’s holdings in European Wax Center were worth $102,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in EWCZ. Barclays PLC boosted its holdings in European Wax Center by 365.7% in the 3rd quarter. Barclays PLC now owns 56,510 shares of the company’s stock worth $385,000 after acquiring an additional 44,376 shares during the period. Geode Capital Management LLC boosted its stake in shares of European Wax Center by 3.9% in the third quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after purchasing an additional 30,804 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in European Wax Center during the 3rd quarter valued at $451,000. XTX Topco Ltd purchased a new stake in European Wax Center during the 3rd quarter worth $162,000. Finally, Atom Investors LP lifted its holdings in European Wax Center by 57.4% in the 3rd quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after buying an additional 67,371 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Trading Down 2.3 %

European Wax Center stock opened at $6.75 on Monday. 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, Inc. has a 1 year low of $4.80 and a 1 year high of $15.83. The firm’s 50-day moving average is $6.23 and its 200-day moving average is $6.82. The company has a market cap of $384.35 million, a P/E ratio of 29.35, a PEG ratio of 1.75 and a beta of 0.95.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on EWCZ. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price target on shares of European Wax Center in a report on Tuesday, January 14th. Morgan Stanley restated an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Finally, Piper Sandler downgraded shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $7.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $6.64.

Insider Buying and Selling at European Wax Center

In related 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 directly owns 29,262 shares in the company, valued at $171,182.70. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.14% of the stock is currently owned by insiders.

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.