Massachusetts Financial Services Co. MA Sells 3,286,855 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Massachusetts Financial Services Co. MA cut its stake in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 98.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 47,677 shares of the company's stock after selling 3,286,855 shares during the period. Massachusetts Financial Services Co. MA owned approximately 0.08% of European Wax Center worth $318,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in EWCZ. SG Americas Securities LLC raised its position in European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company's stock worth $103,000 after purchasing an additional 1,690 shares in the last quarter. Intech Investment Management LLC acquired a new position in shares of European Wax Center in the 4th quarter worth approximately $106,000. XTX Topco Ltd bought a new position in shares of European Wax Center during the 3rd quarter worth approximately $162,000. Diametric Capital LP acquired a new stake in European Wax Center in the 4th quarter valued at $282,000. Finally, Olympiad Research LP grew its position in European Wax Center by 116.8% in the fourth quarter. Olympiad Research LP now owns 50,000 shares of the company's stock valued at $334,000 after acquiring an additional 26,939 shares during the period. Institutional investors and hedge funds own 82.14% of the company's stock.

European Wax Center Trading Down 0.1 %

European Wax Center stock traded down $0.01 during mid-day trading on Tuesday, hitting $3.35. The stock had a trading volume of 122,420 shares, compared to its average volume of 755,928. The stock has a market capitalization of $185.13 million, a PE ratio of 14.54, a P/E/G ratio of 1.72 and a beta of 1.15. European Wax Center, Inc. has a 12 month low of $2.72 and a 12 month high of $12.11. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The stock has a 50-day simple moving average of $5.13 and a two-hundred day simple moving average of $6.06.

Wall Street Analysts Forecast Growth

EWCZ has been the topic of several recent analyst reports. Morgan Stanley reduced their target price 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, March 12th. Jefferies Financial Group set a $15.00 price target on shares of European Wax Center in a research report on Tuesday, March 11th. Piper Sandler lowered shares of European Wax Center from an "overweight" rating to a "neutral" rating and dropped their price objective for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Robert W. Baird reduced their target price on European Wax Center from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and set a $6.00 price target on shares of European Wax Center in a report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $6.94.

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.