Balyasny Asset Management L.P. Boosts Stock Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Balyasny Asset Management L.P. lifted its holdings in European Wax Center, Inc. (NASDAQ:EWCZ) by 31.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 399,228 shares of the company’s stock after purchasing an additional 96,626 shares during the quarter. Balyasny Asset Management L.P.’s holdings in European Wax Center were worth $2,663,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of EWCZ. CenterBook Partners LP grew its holdings in shares of European Wax Center by 42.2% in the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock valued at $11,454,000 after purchasing an additional 509,991 shares in the last quarter. Highland Peak Capital LLC purchased a new position in shares of European Wax Center in the fourth quarter valued at $2,745,000. Kazazian Asset Management LLC purchased a new position in shares of European Wax Center in the fourth quarter valued at $1,782,000. Bank of America Corp DE grew its holdings in shares of European Wax Center by 53.9% in the fourth quarter. Bank of America Corp DE now owns 591,788 shares of the company’s stock valued at $3,947,000 after purchasing an additional 207,377 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of European Wax Center by 65.1% in the fourth quarter. Marshall Wace LLP now owns 494,531 shares of the company’s stock valued at $3,299,000 after purchasing an additional 194,931 shares in the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a report on Tuesday, March 11th. Robert W. Baird dropped their price objective on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Telsey Advisory Group reaffirmed a “market perform” rating and set a $6.00 price objective on shares of European Wax Center in a research note on Tuesday, March 11th. Truist Financial dropped their price objective on shares of European Wax Center from $6.00 to $5.00 and set a “buy” rating for the company in a research note on Tuesday, April 8th. Finally, Morgan Stanley dropped their price objective on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $6.94.

European Wax Center Stock Down 0.8%

NASDAQ:EWCZ opened at $3.57 on Monday. European Wax Center, Inc. has a twelve month low of $2.72 and a twelve month high of $12.05. The company has a market cap of $197.59 million, a price-to-earnings ratio of 15.52, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. The stock has a fifty day simple moving average of $3.81 and a 200-day simple moving average of $5.58. 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 Company 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.