European Wax Center, Inc. (NASDAQ:EWCZ) Shares Sold by Renaissance Technologies LLC

Renaissance Technologies LLC decreased its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 83.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,400 shares of the company’s stock after selling 228,800 shares during the period. Renaissance Technologies LLC owned 0.07% of European Wax Center worth $441,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EWCZ. Massachusetts Financial Services Co. MA lifted its stake in European Wax Center by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock valued at $31,564,000 after buying an additional 81,704 shares during the last quarter. Victory Capital Management Inc. raised its holdings in European Wax Center by 25.7% during the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after purchasing an additional 11,650 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in European Wax Center by 508.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after purchasing an additional 31,022 shares during the period. Teachers Retirement System of The State of Kentucky boosted its stake in European Wax Center by 16.5% during the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock valued at $1,240,000 after purchasing an additional 13,497 shares in the last quarter. Finally, Bamco Inc. NY increased its position in shares of European Wax Center by 8.8% during the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after purchasing an additional 265,000 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

Wall Street Analyst Weigh In

EWCZ has been the subject of several research reports. Robert W. Baird decreased their target price on European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Piper Sandler dropped their target price on shares of European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a report on Thursday, July 11th. Morgan Stanley reduced their target price on shares of European Wax Center from $14.00 to $5.00 and set an “equal weight” rating for the company in a report on Thursday, August 15th. Bank of America dropped their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Citigroup lowered European Wax Center from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $16.00 to $5.50 in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, European Wax Center has a consensus rating of “Moderate Buy” and an average target price of $7.64.

European Wax Center Trading Down 1.0 %

European Wax Center stock opened at $6.81 on Friday. The company has a 50 day moving average price of $6.85 and a 200 day moving average price of $9.51. The company has a debt-to-equity ratio of 3.18, a quick ratio of 2.72 and a current ratio of 3.49. European Wax Center, Inc. has a 52 week low of $4.80 and a 52 week high of $16.76. The firm has a market capitalization of $414.25 million, a price-to-earnings ratio of 27.24, a P/E/G ratio of 2.36 and a beta of 1.13.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.05. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. The firm had revenue of $59.87 million for the quarter, compared to analyst estimates of $61.27 million. Research analysts forecast that European Wax Center, Inc. will post 0.24 EPS for the current year.

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.