Intech Investment Management LLC Acquires New Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Intech Investment Management LLC bought a new position in European Wax Center, Inc. (NASDAQ:EWCZ) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 15,857 shares of the company’s stock, valued at approximately $106,000.

Several other large investors have also added to or reduced their stakes in EWCZ. SG Americas Securities LLC increased its stake in shares of European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after purchasing an additional 1,690 shares in the last quarter. Quantbot Technologies LP increased its stake 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. XTX Topco Ltd bought a new stake in European Wax Center during the third quarter valued at about $162,000. Olympiad Research LP lifted its position in shares of 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 acquiring an additional 26,939 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of European Wax Center by 37.9% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock worth $348,000 after acquiring an additional 14,086 shares during the period. Hedge funds and other institutional investors own 82.14% of the company’s stock.

European Wax Center Stock Performance

European Wax Center stock opened at $4.14 on Friday. The company’s 50-day moving average price is $5.99 and its 200-day moving average price is $6.39. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a market cap of $229.13 million, a PE ratio of 18.00, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center, Inc. has a twelve month low of $2.72 and a twelve month high of $13.15.

Analyst Ratings Changes

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

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.