European Wax Center, Inc. (NASDAQ:EWCZ) Shares Purchased by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA lifted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 4.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,334,532 shares of the company’s stock after purchasing an additional 155,875 shares during the period. Massachusetts Financial Services Co. MA owned approximately 5.56% of European Wax Center worth $22,675,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning lifted its stake in shares of European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after purchasing an additional 9,044 shares during the period. Canada Pension Plan Investment Board raised its position in European Wax Center by 15.5% during the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after acquiring an additional 11,300 shares during the last quarter. Victory Capital Management Inc. raised its position 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 acquiring an additional 11,650 shares during the last quarter. Dark Forest Capital Management LP acquired a new position in European Wax Center during the second quarter worth about $127,000. Finally, Teachers Retirement System of The State of Kentucky raised its position in European Wax Center by 16.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock worth $1,240,000 after acquiring an additional 13,497 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on EWCZ. Truist Financial cut their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Thursday, August 15th. Citigroup cut shares of European Wax Center from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $5.50 in a research report on Thursday, August 15th. Bank of America lowered 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 report on Wednesday, August 21st. Morgan Stanley reiterated an “underweight” rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a report on Thursday, November 14th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $7.64.

European Wax Center Price Performance

European Wax Center stock opened at $6.34 on Tuesday. European Wax Center, Inc. has a 1 year low of $4.80 and a 1 year high of $16.07. The firm has a 50 day moving average price of $6.97 and a 200 day moving average price of $8.37. The company has a market cap of $361.00 million, a price-to-earnings ratio of 27.57, a PEG ratio of 2.25 and a beta of 1.11. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

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.