Massachusetts Financial Services Co. MA Has $31.56 Million Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Massachusetts Financial Services Co. MA boosted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 2.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,178,657 shares of the company’s stock after purchasing an additional 81,704 shares during the quarter. Massachusetts Financial Services Co. MA owned about 5.23% of European Wax Center worth $31,564,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of EWCZ. Champlain Investment Partners LLC boosted its position in shares of European Wax Center by 13.1% during the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock worth $48,617,000 after purchasing an additional 435,270 shares in the last quarter. Bamco Inc. NY grew its stake in European Wax Center by 8.8% in the first quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock valued at $42,380,000 after acquiring an additional 265,000 shares during the period. Wellington Management Group LLP increased its holdings in shares of European Wax Center by 3.5% during the fourth quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company’s stock valued at $30,977,000 after acquiring an additional 77,334 shares in the last quarter. Vanguard Group Inc. raised its position in shares of European Wax Center by 1.6% during the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after purchasing an additional 29,918 shares during the period. Finally, TimesSquare Capital Management LLC lifted its holdings in shares of European Wax Center by 2.0% in the 1st quarter. TimesSquare Capital Management LLC now owns 1,210,372 shares of the company’s stock worth $15,711,000 after purchasing an additional 23,407 shares in the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Stock Performance

EWCZ stock opened at $7.04 on Friday. The business has a 50 day moving average of $7.53 and a 200-day moving average of $10.19. The firm has a market cap of $428.24 million, a PE ratio of 28.24, a P/E/G ratio of 2.29 and a beta of 1.13. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $18.04. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18.

European Wax Center (NASDAQ:EWCZ) last announced its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The firm had revenue of $59.87 million during the quarter, compared to the consensus estimate of $61.27 million. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. As a group, sell-side analysts expect that European Wax Center, Inc. will post 0.24 earnings per share for the current year.

Wall Street Analyst Weigh In

EWCZ has been the topic of several research reports. Morgan Stanley lowered their price objective on shares of European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Telsey Advisory Group restated an “outperform” rating and issued a $8.00 target price on shares of European Wax Center in a report on Friday. Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and cut their price target for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Truist Financial lowered their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Finally, Piper Sandler cut their target price 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. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, European Wax Center has an average rating of “Moderate Buy” and a consensus target price of $7.64.

About European Wax Center

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.