Quarry LP Boosts Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Quarry LP boosted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 1,996.1% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 16,098 shares of the company’s stock after acquiring an additional 15,330 shares during the period. Quarry LP’s holdings in European Wax Center were worth $107,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CenterBook Partners LP lifted its stake in shares of European Wax Center by 42.2% during the 4th quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock worth $11,454,000 after purchasing an additional 509,991 shares during the period. Highland Peak Capital LLC purchased a new position in shares of European Wax Center during the 4th quarter worth $2,745,000. Kazazian Asset Management LLC purchased a new position in shares of European Wax Center during the 4th quarter worth $1,782,000. Marshall Wace LLP lifted its stake in shares of European Wax Center by 65.1% during the 4th quarter. Marshall Wace LLP now owns 494,531 shares of the company’s stock worth $3,299,000 after purchasing an additional 194,931 shares during the period. Finally, Kanen Wealth Management LLC purchased a new position in shares of European Wax Center during the 4th quarter worth $637,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on EWCZ shares. Jefferies Financial Group set a $15.00 price objective on European Wax Center in a report on Tuesday, March 11th. Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $7.00 in a report on Monday, January 6th. Robert W. Baird lowered their price target on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Truist Financial lowered their price target on European Wax Center from $6.00 to $5.00 and set a “buy” rating for the company in a report on Tuesday, April 8th. Finally, Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 price target 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 assigned a buy rating to the company. Based on data from MarketBeat, European Wax Center currently has an average rating of “Hold” and an average target price of $6.94.

European Wax Center Stock Performance

Shares of EWCZ opened at $3.12 on Wednesday. The business’s 50 day moving average is $4.30 and its two-hundred day moving average is $5.79. European Wax Center, Inc. has a 52-week low of $2.72 and a 52-week high of $12.11. The firm has a market cap of $172.68 million, a price-to-earnings ratio of 13.57, a PEG ratio of 1.72 and a beta of 1.15. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

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.