Highland Peak Capital LLC Buys Shares of 411,512 European Wax Center, Inc. (NASDAQ:EWCZ)

Highland Peak Capital LLC purchased a new position in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 411,512 shares of the company's stock, valued at approximately $2,745,000. European Wax Center makes up 1.5% of Highland Peak Capital LLC's investment portfolio, making the stock its 16th largest holding. Highland Peak Capital LLC owned approximately 0.72% of European Wax Center at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC grew its stake in shares of European Wax Center by 12.3% during the 4th quarter. SG Americas Securities LLC now owns 15,416 shares of the company's stock valued at $103,000 after purchasing an additional 1,690 shares during the period. Royce & Associates LP bought a new position in shares of European Wax Center during the 3rd quarter valued at approximately $108,000. Aigen Investment Management LP bought a new position in shares of European Wax Center in the 3rd quarter valued at about $114,000. Creative Planning boosted its holdings in shares of European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company's stock worth $146,000 after purchasing an additional 9,044 shares during the period. Finally, Quantbot Technologies LP grew its holdings in European Wax Center by 52.3% during the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company's stock valued at $153,000 after purchasing an additional 7,709 shares during the last quarter. Hedge funds and other institutional investors own 82.14% of the company's stock.

Remove Ads

Insider Transactions at European Wax Center

In related news, Director Nital P. Scott sold 4,344 shares of the business's 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 sale, the director now owns 29,262 shares of the company's stock, valued at $171,182.70. This represents a 12.93 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.14% of the company's stock.

European Wax Center Trading Down 5.0 %

Shares of NASDAQ EWCZ traded down $0.22 during trading on Thursday, hitting $4.20. 975,553 shares of the company traded hands, compared to its average volume of 597,353. The firm has a market capitalization of $239.16 million, a P/E ratio of 18.26, a P/E/G ratio of 1.72 and a beta of 0.95. European Wax Center, Inc. has a 1 year low of $2.72 and a 1 year high of $13.31. 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 company has a 50-day moving average price of $6.47 and a 200-day moving average price of $6.59.

Analyst Ratings Changes

Several research firms have recently weighed in on EWCZ. Telsey Advisory Group reaffirmed a "market perform" rating and set a $6.00 price target on shares of European Wax Center in a research note on Tuesday. Morgan Stanley cut their price objective on shares of European Wax Center from $5.00 to $4.00 and set an "underweight" rating on the stock in a research note on Wednesday. Robert W. Baird decreased their target price on shares of European Wax Center from $7.00 to $5.00 and set a "neutral" rating for the company in a research note on Wednesday. Finally, Piper Sandler cut shares of European Wax Center from an "overweight" rating to a "neutral" rating and dropped their price target for the company from $9.00 to $7.00 in a research note on Monday, January 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $6.21.

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.