Renaissance Technologies LLC Sells 228,800 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Renaissance Technologies LLC decreased its holdings in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 83.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,400 shares of the company's stock after selling 228,800 shares during the quarter. Renaissance Technologies LLC owned 0.07% of European Wax Center worth $441,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of EWCZ. Massachusetts Financial Services Co. MA lifted its position in European Wax Center by 2.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company's stock valued at $31,564,000 after purchasing an additional 81,704 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of European Wax Center by 25.7% during the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company's stock worth $566,000 after acquiring an additional 11,650 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in European Wax Center by 508.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company's stock worth $369,000 after acquiring an additional 31,022 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in European Wax Center by 16.5% in the first quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company's stock valued at $1,240,000 after acquiring an additional 13,497 shares during the last quarter. Finally, Bamco Inc. NY raised its position 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 valued at $42,380,000 after purchasing an additional 265,000 shares in the last quarter. Hedge funds and other institutional investors own 82.14% of the company's stock.

European Wax Center Trading Down 0.4 %

Shares of European Wax Center stock traded down $0.03 during trading on Friday, reaching $6.78. 290,315 shares of the stock were exchanged, compared to its average volume of 692,460. European Wax Center, Inc. has a 1 year low of $4.80 and a 1 year high of $16.76. The firm has a market cap of $412.43 million, a price-to-earnings ratio of 27.28, a price-to-earnings-growth ratio of 2.35 and a beta of 1.13. The company has a quick ratio of 2.72, a current ratio of 3.49 and a debt-to-equity ratio of 3.18. The stock's fifty day moving average is $6.85 and its 200 day moving average is $9.51.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.12 earnings per share for the quarter, topping analysts' consensus estimates of $0.07 by $0.05. The firm had revenue of $59.87 million for the quarter, compared to analyst estimates of $61.27 million. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. As a group, equities research analysts expect that European Wax Center, Inc. will post 0.24 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on EWCZ shares. Citigroup cut European Wax Center from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $16.00 to $5.50 in a report on Thursday, August 15th. Bank of America cut their price objective on shares of European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research note on Wednesday, August 21st. Morgan Stanley decreased their target price on shares of European Wax Center from $14.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Thursday, August 15th. Robert W. Baird reduced their price objective on European Wax Center from $13.00 to $7.00 and set a "neutral" rating on the stock in a research note on Thursday, August 15th. Finally, Piper Sandler lowered their target price on European Wax Center from $15.00 to $12.00 and set an "overweight" rating for the company in a research note on Thursday, July 11th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $7.64.

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.