Bank of New York Mellon Corp Sells 8,876 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Bank of New York Mellon Corp lessened its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 8.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 95,193 shares of the company’s stock after selling 8,876 shares during the period. Bank of New York Mellon Corp owned approximately 0.17% of European Wax Center worth $635,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. SG Americas Securities LLC lifted its stake in shares of European Wax Center by 12.3% during the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after acquiring an additional 1,690 shares during the last quarter. Quantbot Technologies LP lifted its position in shares of European Wax Center by 52.3% during the third quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after purchasing an additional 7,709 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of European Wax Center by 37.9% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock valued at $348,000 after purchasing an additional 14,086 shares during the period. XTX Topco Ltd bought a new position in shares of European Wax Center in the third quarter worth about $162,000. Finally, Olympiad Research LP increased its stake in European Wax Center by 116.8% in the 4th quarter. Olympiad Research LP now owns 50,000 shares of the company’s stock worth $334,000 after buying an additional 26,939 shares during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

European Wax Center Stock Performance

Shares of European Wax Center stock opened at $4.24 on Thursday. The company has a market capitalization of $234.67 million, a PE ratio of 18.43, a P/E/G ratio of 1.72 and a beta of 0.95. The company has a 50-day simple moving average of $6.04 and a two-hundred day simple moving average of $6.41. European Wax Center, Inc. has a one year low of $2.72 and a one year high of $13.15. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

Analysts Set New Price Targets

EWCZ has been the subject of several research reports. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price objective on shares of European Wax Center in a research report on Tuesday, March 11th. Morgan Stanley lowered their price target 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. Robert W. Baird reduced 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 price target on European Wax Center in a research note on Tuesday, March 11th. Finally, Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $9.00 to $7.00 in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price 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.