Millennium Management LLC Purchases 164,688 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Millennium Management LLC lifted its position in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 44.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 538,972 shares of the company's stock after acquiring an additional 164,688 shares during the period. Millennium Management LLC owned about 0.89% of European Wax Center worth $5,352,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in EWCZ. Teachers Retirement System of The State of Kentucky grew its position in European Wax Center by 34.5% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 82,017 shares of the company's stock valued at $1,115,000 after purchasing an additional 21,054 shares in the last quarter. Wellington Management Group LLP grew its position in European Wax Center by 3.5% during the fourth 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. Diversified Trust Co lifted its stake in European Wax Center by 41.0% in the first quarter. Diversified Trust Co now owns 31,540 shares of the company's stock valued at $409,000 after acquiring an additional 9,175 shares during the last quarter. TimesSquare Capital Management LLC lifted its stake in European Wax Center by 2.0% in the first quarter. TimesSquare Capital Management LLC now owns 1,210,372 shares of the company's stock valued at $15,711,000 after acquiring an additional 23,407 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in European Wax Center by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company's stock valued at $24,523,000 after acquiring an additional 29,918 shares during the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

EWCZ has been the subject of a number of analyst reports. 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 research note on Thursday, August 15th. Piper Sandler reduced their target price on shares of 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. Truist Financial reduced 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 Thursday, August 15th. Bank of America reduced 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. Finally, Telsey Advisory Group restated an "outperform" rating and issued a $8.00 price objective on shares of European Wax Center in a research note on Friday, September 20th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $7.64.

European Wax Center Stock Performance

NASDAQ:EWCZ traded down $0.03 during trading hours on Friday, hitting $6.78. 290,315 shares of the company traded hands, compared to its average volume of 692,460. The stock has a market capitalization of $412.43 million, a price-to-earnings ratio of 27.12, a P/E/G ratio of 2.35 and a beta of 1.13. European Wax Center, Inc. has a twelve month low of $4.80 and a twelve month high of $16.76. The firm has a 50-day moving average of $6.82 and a 200 day moving average of $9.45. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last released its 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 firm had revenue of $59.87 million during the quarter, compared to analysts' expectations of $61.27 million. European Wax Center had a net margin of 5.61% and a return on equity of 13.84%. On average, analysts forecast that European Wax Center, Inc. will post 0.24 EPS for the current year.

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.