Quest Partners LLC Sells 3,697 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Quest Partners LLC decreased its holdings in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 16.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,440 shares of the company’s stock after selling 3,697 shares during the quarter. Quest Partners LLC’s holdings in European Wax Center were worth $183,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its holdings in shares of European Wax Center by 25.7% during the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after purchasing an additional 11,650 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in European Wax Center by 508.9% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock valued at $369,000 after buying an additional 31,022 shares during the period. Teachers Retirement System of The State of Kentucky increased its holdings in European Wax Center by 16.5% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock valued at $1,240,000 after buying an additional 13,497 shares during the period. Bamco Inc. NY raised its stake in shares of European Wax Center by 8.8% in the 1st quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after buying an additional 265,000 shares in the last quarter. Finally, Bessemer Group Inc. lifted its holdings in shares of European Wax Center by 14.2% during the 1st quarter. Bessemer Group Inc. now owns 49,570 shares of the company’s stock worth $643,000 after acquiring an additional 6,170 shares during the period. Institutional investors and hedge funds own 82.14% of the company’s stock.

Wall Street Analysts Forecast Growth

EWCZ has been the subject of several recent research reports. Robert W. Baird dropped their price target on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research report on Thursday, August 15th. Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and cut their target price for the stock from $16.00 to $5.50 in a research report on Thursday, August 15th. Piper Sandler lowered their price target on European Wax Center from $15.00 to $12.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Truist Financial lowered their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, European Wax Center has an average rating of “Moderate Buy” and an average price target of $8.79.

European Wax Center Stock Performance

European Wax Center stock opened at $7.07 on Monday. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $18.28. The stock has a 50-day simple moving average of $7.72 and a 200 day simple moving average of $10.33. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. The stock has a market capitalization of $430.07 million, a price-to-earnings ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 1.13.

European Wax Center (NASDAQ:EWCZ) last announced its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, topping analysts’ consensus estimates of $0.07 by $0.05. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. The company had revenue of $59.87 million during the quarter, compared to the consensus estimate of $61.27 million. On average, research analysts anticipate that European Wax Center, Inc. will post 0.24 earnings per share for the current fiscal year.

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.