Wellington Management Group LLP Has $30.98 Million Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Wellington Management Group LLP lifted its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 3.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,279,389 shares of the company’s stock after purchasing an additional 77,334 shares during the period. Wellington Management Group LLP’s holdings in European Wax Center were worth $30,977,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Teachers Retirement System of The State of Kentucky lifted its position in shares of European Wax Center by 34.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company’s stock worth $1,115,000 after purchasing an additional 21,054 shares in the last quarter. Boulder Hill Capital Management LP acquired a new position in European Wax Center in the fourth quarter valued at approximately $612,000. Quest Partners LLC acquired a new position in European Wax Center in the fourth quarter valued at approximately $166,000. Dynamic Technology Lab Private Ltd acquired a new position in European Wax Center in the fourth quarter valued at approximately $1,276,000. Finally, Victory Capital Management Inc. acquired a new position in European Wax Center in the fourth quarter valued at approximately $565,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Trading Up 2.1 %

EWCZ opened at $10.93 on Tuesday. The firm’s fifty day moving average is $11.26 and its two-hundred day moving average is $13.03. The company has a debt-to-equity ratio of 3.10, a quick ratio of 2.31 and a current ratio of 2.95. The firm has a market cap of $664.87 million, a PE ratio of 43.72, a price-to-earnings-growth ratio of 2.13 and a beta of 1.22. European Wax Center, Inc. has a twelve month low of $10.23 and a twelve month high of $20.00.

European Wax Center (NASDAQ:EWCZ) last posted its earnings results on Wednesday, May 15th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.06. The company had revenue of $51.87 million for the quarter, compared to analyst estimates of $51.88 million. European Wax Center had a net margin of 5.50% and a return on equity of 11.01%. Equities research analysts anticipate that European Wax Center, Inc. will post 0.3 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on EWCZ. Citigroup cut their price objective on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Telsey Advisory Group restated an “outperform” rating and issued a $16.00 price objective on shares of European Wax Center in a report on Thursday, May 30th. Bank of America cut their price objective on shares of European Wax Center from $19.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. Finally, Truist Financial cut their price objective on shares of European Wax Center from $17.00 to $16.00 and set a “buy” rating on the stock in a report on Thursday, May 16th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $16.33.

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.