European Wax Center, Inc. (NASDAQ:EWCZ) Stake Raised by Algert Global LLC

Algert Global LLC grew its stake in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 720.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. 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 owned approximately 0.19% of European Wax Center worth $756,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of EWCZ. SG Americas Securities LLC acquired a new stake in shares of European Wax Center during the third quarter worth $93,000. Royce & Associates LP acquired a new stake in European Wax Center during the third quarter worth about $108,000. Aigen Investment Management LP bought a new position in European Wax Center in the third quarter worth about $114,000. Dark Forest Capital Management LP acquired a new position in European Wax Center in the second quarter valued at approximately $127,000. Finally, Creative Planning boosted its stake in European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company's stock valued at $146,000 after acquiring an additional 9,044 shares during the period. Institutional investors own 82.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on EWCZ. Robert W. Baird cut their price target on European Wax Center from $13.00 to $7.00 and set a "neutral" rating on the stock in a report on Thursday, August 15th. Bank of America reduced 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 report on Wednesday, August 21st. Truist Financial dropped 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. Citigroup lowered shares of European Wax Center from a "buy" rating to a "neutral" rating and reduced their target price for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Finally, Morgan Stanley restated an "underweight" rating and issued a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $7.64.

European Wax Center Price Performance

Shares of EWCZ stock traded up $0.08 during midday trading on Friday, reaching $6.01. 1,051,835 shares of the company were exchanged, compared to its average volume of 712,002. The company's 50 day moving average price is $6.87 and its two-hundred day moving average price is $8.26. The company has a market cap of $342.21 million, a P/E ratio of 26.13, a PEG ratio of 2.27 and a beta of 1.11. European Wax Center, Inc. has a 12 month low of $4.80 and a 12 month high of $16.07. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

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.