Cubist Systematic Strategies LLC Has $819,000 Holdings in European Wax Center, Inc. (NASDAQ:EWCZ)

Cubist Systematic Strategies LLC reduced its holdings in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 53.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,510 shares of the company's stock after selling 93,940 shares during the quarter. Cubist Systematic Strategies LLC owned 0.14% of European Wax Center worth $819,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Champlain Investment Partners LLC raised its holdings in European Wax Center by 13.1% during the first quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company's stock worth $48,617,000 after purchasing an additional 435,270 shares in the last quarter. Marshall Wace LLP bought a new position in European Wax Center during the second quarter valued at about $3,274,000. Bamco Inc. NY grew its holdings in European Wax Center by 8.8% during the first quarter. Bamco Inc. NY now owns 3,265,000 shares of the company's stock worth $42,380,000 after acquiring an additional 265,000 shares during the period. Massachusetts Financial Services Co. MA raised its position in European Wax Center by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company's stock worth $31,564,000 after acquiring an additional 81,704 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of European Wax Center by 3.5% during the 4th quarter. Wellington Management Group LLP now owns 2,279,389 shares of the company's stock valued at $30,977,000 after purchasing an additional 77,334 shares in the last quarter. Institutional investors own 82.14% of the company's stock.

European Wax Center Stock Up 3.8 %

NASDAQ EWCZ traded up $0.26 on Friday, reaching $7.02. The stock had a trading volume of 328,981 shares, compared to its average volume of 702,148. European Wax Center, Inc. has a 1 year low of $4.80 and a 1 year high of $16.76. The business has a 50 day moving average price of $7.05 and a 200 day moving average price of $9.72. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The company has a market capitalization of $427.03 million, a price-to-earnings ratio of 27.72, a P/E/G ratio of 2.36 and a beta of 1.13.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last announced its quarterly earnings results on Wednesday, August 14th. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.07 by $0.05. The business had revenue of $59.87 million during the quarter, compared to analysts' expectations of $61.27 million. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. On average, analysts forecast that European Wax Center, Inc. will post 0.24 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EWCZ shares. Morgan Stanley reduced their target price on shares of European Wax Center from $14.00 to $5.00 and set an "equal weight" rating for the company in a report on Thursday, August 15th. Telsey Advisory Group reaffirmed an "outperform" rating and set a $8.00 target price on shares of European Wax Center in a research report on Friday, September 20th. Truist Financial decreased their price target on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating on the stock in a report on Wednesday, August 21st. Finally, Citigroup cut shares of European Wax Center from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $7.64.

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.