Creative Planning Has $146,000 Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Creative Planning raised its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 72.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,501 shares of the company’s stock after purchasing an additional 9,044 shares during the quarter. Creative Planning’s holdings in European Wax Center were worth $146,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. SG Americas Securities LLC bought a new position in shares of European Wax Center during the 3rd quarter valued at approximately $93,000. Point72 Asset Management L.P. grew its stake in European Wax Center by 14.2% during the second quarter. Point72 Asset Management L.P. now owns 226,965 shares of the company’s stock valued at $2,254,000 after acquiring an additional 28,165 shares in the last quarter. Algert Global LLC bought a new stake in shares of European Wax Center during the 2nd quarter valued at about $135,000. Millennium Management LLC grew its position in European Wax Center by 44.0% in the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after acquiring an additional 164,688 shares in the last quarter. Finally, Mcmorgan & Co. LLC increased its stake in European Wax Center by 21.0% in the second quarter. Mcmorgan & Co. LLC now owns 250,387 shares of the company’s stock valued at $2,486,000 after acquiring an additional 43,375 shares during the last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Wall Street Analyst Weigh In

EWCZ has been the topic of several analyst reports. Citigroup downgraded shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $16.00 to $5.50 in a research note on Thursday, August 15th. Robert W. Baird cut their price target on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Truist Financial decreased their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, Morgan Stanley decreased their target price on European Wax Center from $14.00 to $5.00 and set an “equal weight” rating for the company in a research report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $7.64.

European Wax Center Trading Down 3.7 %

NASDAQ EWCZ opened at $8.28 on Wednesday. The stock’s fifty day moving average price is $7.08 and its 200-day moving average price is $8.73. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The stock has a market cap of $496.63 million, a P/E ratio of 33.08, a P/E/G ratio of 2.71 and a beta of 1.11. European Wax Center, Inc. has a 12 month low of $4.80 and a 12 month high of $16.07.

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