Algert Global LLC Acquires 97,590 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Algert Global LLC lifted its holdings in European Wax Center, Inc. (NASDAQ:EWCZ) by 720.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 111,137 shares of the company’s stock after purchasing an additional 97,590 shares during the quarter. Algert Global LLC’s holdings in European Wax Center were worth $756,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Marshall Wace LLP bought a new position in shares of European Wax Center in the second quarter worth about $3,274,000. Landscape Capital Management L.L.C. bought a new position in European Wax Center in the 3rd quarter worth approximately $1,231,000. Millennium Management LLC lifted its holdings in European Wax Center by 44.0% during the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after buying an additional 164,688 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in European Wax Center by 4.9% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after buying an additional 155,875 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of European Wax Center by 78.3% during the third quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock worth $691,000 after acquiring an additional 44,653 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Price Performance

Shares of EWCZ stock opened at $6.01 on Friday. 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, Inc. has a 12-month low of $4.80 and a 12-month high of $16.07. The firm has a fifty day moving average of $6.89 and a 200-day moving average of $8.30. The firm has a market capitalization of $342.21 million, a price-to-earnings ratio of 26.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Telsey Advisory Group reiterated an “outperform” rating and issued a $8.00 price target on shares of European Wax Center in a report on Thursday, November 14th. Bank of America lowered their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Truist Financial cut their price objective 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. Robert W. Baird lowered their target price on shares of European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Finally, Morgan Stanley reissued an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $7.64.

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.