Victory Capital Management Inc. Grows Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Victory Capital Management Inc. boosted its position in European Wax Center, Inc. (NASDAQ:EWCZ) by 41.3% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 143,607 shares of the company’s stock after purchasing an additional 41,954 shares during the quarter. Victory Capital Management Inc. owned approximately 0.25% of European Wax Center worth $958,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. Royce & Associates LP acquired a new position in shares of European Wax Center during the third quarter valued at about $108,000. Landscape Capital Management L.L.C. purchased a new position in European Wax Center in the 3rd quarter valued at $1,231,000. Massachusetts Financial Services Co. MA lifted its holdings in European Wax Center by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after purchasing an additional 155,875 shares in the last quarter. Algert Global LLC lifted its holdings in European Wax Center by 720.4% in the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock valued at $756,000 after purchasing an additional 97,590 shares in the last quarter. Finally, FMR LLC lifted 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. 82.14% of the stock is currently owned by institutional investors.

European Wax Center Stock Performance

Shares of EWCZ opened at $4.01 on Friday. The stock has a 50-day simple moving average of $6.21 and a 200-day simple moving average of $6.49. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17. The stock has a market capitalization of $228.34 million, a PE ratio of 17.43, a PEG ratio of 1.72 and a beta of 0.95. European Wax Center, Inc. has a 1 year low of $2.72 and a 1 year high of $13.31.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EWCZ. Robert W. Baird decreased their price objective on European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Jefferies Financial Group set a $15.00 target price on European Wax Center in a research note on Tuesday, March 11th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a research note on Tuesday, March 11th. Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and cut their price objective for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Finally, Morgan Stanley lowered their target price on European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a report on Wednesday, March 12th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, European Wax Center currently has an average rating of “Hold” and an average price target of $7.31.

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.