Quantbot Technologies LP Sells 16,923 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Quantbot Technologies LP cut its holdings in European Wax Center, Inc. (NASDAQ:EWCZ) by 75.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,531 shares of the company’s stock after selling 16,923 shares during the quarter. Quantbot Technologies LP’s holdings in European Wax Center were worth $37,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the stock. SG Americas Securities LLC boosted its position in European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock valued at $103,000 after buying an additional 1,690 shares during the last quarter. Intech Investment Management LLC acquired a new position in European Wax Center during the fourth quarter valued at $106,000. XTX Topco Ltd purchased a new stake in European Wax Center in the third quarter valued at $162,000. Olympiad Research LP boosted its holdings in European Wax Center by 116.8% in the fourth quarter. Olympiad Research LP now owns 50,000 shares of the company’s stock valued at $334,000 after purchasing an additional 26,939 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in European Wax Center by 37.9% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock worth $348,000 after purchasing an additional 14,086 shares during the period. 82.14% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Morgan Stanley lowered their price objective on European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a research report on Wednesday, March 12th. Telsey Advisory Group reissued a “market perform” rating and set a $6.00 price target on shares of European Wax Center in a report on Tuesday, March 11th. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $9.00 to $7.00 in a report on Monday, January 6th. Robert W. Baird decreased their price objective on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group set a $15.00 target price on European Wax Center in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, European Wax Center has an average rating of “Hold” and a consensus price target of $7.31.

European Wax Center Trading Up 6.3 %

Shares of European Wax Center stock opened at $4.20 on Wednesday. European Wax Center, Inc. has a twelve month low of $2.72 and a twelve month high of $12.89. The firm’s 50-day moving average price is $5.84 and its 200 day moving average price is $6.33. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The firm has a market capitalization of $232.45 million, a PE ratio of 18.26, a P/E/G ratio of 1.72 and a beta of 0.95.

European Wax Center 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.