European Wax Center Target of Unusually High Options Trading (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ) was the recipient of some unusual options trading on Monday. Investors acquired 15,427 call options on the company. This represents an increase of 1,074% compared to the average volume of 1,314 call options.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EWCZ. Morgan Stanley reissued an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a report on Friday, November 15th. Telsey Advisory Group lowered European Wax Center from an “outperform” rating to a “market perform” rating and reduced their price objective for the stock from $8.00 to $6.00 in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $7.36.

Insider Buying and Selling at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the transaction, the director now directly owns 29,262 shares of the company’s stock, valued at $171,182.70. This trade represents a 12.93 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.14% of the company’s stock.

Institutional Investors Weigh In On European Wax Center

A number of institutional investors and hedge funds have recently made changes to their positions in EWCZ. Zurcher Kantonalbank Zurich Cantonalbank increased its position in European Wax Center by 508.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after purchasing an additional 31,022 shares during the period. Victory Capital Management Inc. boosted its stake in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after purchasing an additional 11,650 shares during the last quarter. Massachusetts Financial Services Co. MA grew its position in shares of European Wax Center by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after buying an additional 81,704 shares during the period. Canada Pension Plan Investment Board raised its stake in shares of European Wax Center by 15.5% during the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after buying an additional 11,300 shares during the last quarter. Finally, Marshall Wace LLP bought a new stake in shares of European Wax Center during the second quarter worth approximately $3,274,000. Institutional investors own 82.14% of the company’s stock.

European Wax Center Trading Down 2.6 %

EWCZ stock traded down $0.16 during trading on Monday, hitting $6.08. The company had a trading volume of 492,162 shares, compared to its average volume of 722,217. The firm has a 50-day moving average price of $6.47 and a 200-day moving average price of $7.47. European Wax Center has a 12 month low of $4.80 and a 12 month high of $16.07. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The stock has a market cap of $346.21 million, a price-to-earnings ratio of 26.43, a PEG ratio of 2.35 and a beta of 1.01.

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.