Olympiad Research LP Has $334,000 Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Olympiad Research LP increased its position in European Wax Center, Inc. (NASDAQ:EWCZ) by 116.8% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 50,000 shares of the company’s stock after purchasing an additional 26,939 shares during the period. Olympiad Research LP owned about 0.09% of European Wax Center worth $334,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EWCZ. SG Americas Securities LLC purchased a new stake in European Wax Center in the 3rd quarter worth approximately $93,000. Royce & Associates LP purchased a new stake in European Wax Center in the 3rd quarter worth approximately $108,000. Aigen Investment Management LP purchased a new stake in European Wax Center in the 3rd quarter worth approximately $114,000. Creative Planning lifted its position in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after buying an additional 9,044 shares in the last quarter. Finally, Quantbot Technologies LP lifted its position in European Wax Center by 52.3% in the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after buying an additional 7,709 shares in the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

Analysts Set New Price Targets

EWCZ has been the subject of a number of research analyst reports. Piper Sandler downgraded shares of European Wax Center from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $9.00 to $7.00 in a research report on Monday, January 6th. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 target price on shares of European Wax Center in a research report on Tuesday, January 14th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $6.64.

Insider Activity

In related news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction on Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total value of $25,412.40. Following the transaction, the director now owns 29,262 shares in the company, valued at $171,182.70. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 6.14% of the stock is owned by insiders.

European Wax Center Stock Down 3.7 %

European Wax Center stock opened at $6.57 on Friday. The company has a market capitalization of $374.10 million, a P/E ratio of 28.57, a P/E/G ratio of 1.72 and a beta of 0.95. The firm’s fifty day simple moving average is $6.47 and its 200-day simple moving average is $6.65. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. European Wax Center, Inc. has a 1-year low of $4.80 and a 1-year high of $15.52.

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.