Massachusetts Financial Services Co. MA Has $22.68 Million Stock Holdings in European Wax Center, Inc. (NASDAQ:EWCZ)

Massachusetts Financial Services Co. MA increased its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 4.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,334,532 shares of the company's stock after acquiring an additional 155,875 shares during the period. Massachusetts Financial Services Co. MA owned about 5.56% of European Wax Center worth $22,675,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. SG Americas Securities LLC bought a new stake in European Wax Center during the third quarter worth about $93,000. Royce & Associates LP bought a new stake in European Wax Center during the third quarter worth about $108,000. Aigen Investment Management LP bought a new stake in European Wax Center during the third quarter worth about $114,000. Dark Forest Capital Management LP bought a new stake in European Wax Center during the second quarter worth about $127,000. Finally, Algert Global LLC bought a new stake in European Wax Center during the second quarter worth about $135,000. Institutional investors own 82.14% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EWCZ. Citigroup lowered European Wax Center from a "buy" rating to a "neutral" rating and dropped their price objective for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Truist Financial dropped their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating on the stock in a research note on Thursday, August 15th. Telsey Advisory Group restated an "outperform" rating and issued a $8.00 price objective on shares of European Wax Center in a research note on Thursday, November 14th. Robert W. Baird dropped their price objective on European Wax Center from $13.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th. Finally, Bank of America dropped their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $7.64.

European Wax Center Price Performance

NASDAQ:EWCZ traded down $0.45 during trading hours on Tuesday, reaching $5.89. 904,706 shares of the company were exchanged, compared to its average volume of 687,771. The business has a 50 day moving average of $6.97 and a 200 day moving average of $8.37. The company has a market capitalization of $335.38 million, a P/E ratio of 25.61, a P/E/G ratio of 2.25 and a beta of 1.11. European Wax Center, Inc. has a 1-year low of $4.80 and a 1-year high of $16.07. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42.

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.