Investors Buy Large Volume of European Wax Center Call Options (NASDAQ:EWCZ)

European Wax Center, Inc. (NASDAQ:EWCZ - Get Free Report) saw some unusual options trading activity on Monday. Stock investors purchased 15,427 call options on the company. This is an increase of 1,074% compared to the average volume of 1,314 call options.

Insider Activity

In related news, Director Nital P. Scott sold 4,344 shares of the business's stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total transaction of $25,412.40. Following the transaction, the director now directly owns 29,262 shares of the company's stock, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.14% of the stock is owned by insiders.

Institutional Investors Weigh In On European Wax Center

Large investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of European Wax Center by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company's stock worth $22,675,000 after purchasing an additional 155,875 shares in the last quarter. FMR LLC increased its holdings in European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company's stock valued at $18,345,000 after buying an additional 428,280 shares during the period. Southpoint Capital Advisors LP raised its position in shares of European Wax Center by 5.3% in the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company's stock valued at $13,600,000 after buying an additional 100,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of European Wax Center by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company's stock worth $5,582,000 after acquiring an additional 30,804 shares during the period. Finally, Millennium Management LLC boosted its position in shares of 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 acquiring an additional 164,688 shares in the last quarter. Institutional investors and hedge funds own 82.14% of the company's stock.

European Wax Center Stock Performance

NASDAQ:EWCZ traded up $0.11 during mid-day trading on Monday, reaching $6.35. 1,381,730 shares of the company's stock were exchanged, compared to its average volume of 725,840. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17. The firm has a market capitalization of $361.59 million, a PE ratio of 27.61, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01. European Wax Center has a one year low of $4.80 and a one year high of $16.07. The business's fifty day simple moving average is $6.47 and its two-hundred day simple moving average is $7.47.

Analysts Set New Price Targets

Several research firms have commented on EWCZ. Telsey Advisory Group downgraded shares of European Wax Center from an "outperform" rating to a "market perform" rating and decreased their price objective for the company from $8.00 to $6.00 in a report on Thursday, December 19th. Morgan Stanley reiterated 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $7.36.

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.