JPMorgan Chase & Co. Sells 69,476 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

JPMorgan Chase & Co. cut its position in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 82.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,064 shares of the company's stock after selling 69,476 shares during the period. JPMorgan Chase & Co.'s holdings in European Wax Center were worth $102,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC bought a new stake in shares of European Wax Center during the 3rd quarter worth about $93,000. Royce & Associates LP bought a new stake in European Wax Center during the third quarter worth approximately $108,000. Aigen Investment Management LP acquired a new position in European Wax Center during the third quarter valued at approximately $114,000. Algert Global LLC acquired a new stake in shares of European Wax Center in the second quarter worth $135,000. Finally, Creative Planning grew its stake in European Wax Center by 72.6% in the 3rd quarter. Creative Planning now owns 21,501 shares of the company's stock valued at $146,000 after buying an additional 9,044 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Stock Performance

European Wax Center stock traded up $0.12 on Thursday, hitting $6.79. The company's stock had a trading volume of 384,167 shares, compared to its average volume of 664,290. The company has a fifty day moving average price of $6.28 and a 200-day moving average price of $6.79. The firm has a market cap of $386.62 million, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 1.71 and a beta of 0.95. European Wax Center, Inc. has a one year low of $4.80 and a one year high of $15.83. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

Insider Activity at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the company's stock in a transaction on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the sale, the director now directly owns 29,262 shares in the company, valued at $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.14% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have issued reports on EWCZ. Morgan Stanley restated an "underweight" rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. Piper Sandler downgraded shares of European Wax Center from an "overweight" rating to a "neutral" rating and reduced their price target for the company from $9.00 to $7.00 in a report on Monday, January 6th. Finally, Telsey Advisory Group restated a "market perform" rating and set a $6.00 price objective on shares of European Wax Center in a report on Tuesday, January 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $6.64.

About European Wax Center

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.