Point72 Asset Management L.P. Decreases Stake in European Wax Center, Inc. (NASDAQ:EWCZ)

Point72 Asset Management L.P. decreased its position in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 83.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 37,833 shares of the company's stock after selling 189,132 shares during the period. Point72 Asset Management L.P. owned about 0.06% of European Wax Center worth $257,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. Dark Forest Capital Management LP purchased a new stake in shares of European Wax Center in the 2nd quarter worth about $127,000. Algert Global LLC purchased a new stake in shares of European Wax Center in the second quarter valued at about $135,000. SG Americas Securities LLC acquired a new stake in shares of European Wax Center in the third quarter valued at approximately $93,000. Royce & Associates LP purchased a new position in shares of European Wax Center during the 3rd quarter worth approximately $108,000. Finally, Aigen Investment Management LP acquired a new position in shares of European Wax Center during the 3rd quarter worth approximately $114,000. Institutional investors and hedge funds own 82.14% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Telsey Advisory Group reiterated an "outperform" rating and set a $8.00 target price on shares of European Wax Center in a report on Thursday. Bank of America dropped their price objective on European Wax Center from $16.00 to $8.00 and set a "buy" rating for the company in a research report on Wednesday, August 21st. Citigroup cut shares of European Wax Center from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $16.00 to $5.50 in a research note on Thursday, August 15th. Robert W. Baird cut their price objective on shares of European Wax Center from $13.00 to $7.00 and set a "neutral" rating for the company in a research report on Thursday, August 15th. Finally, Morgan Stanley reissued an "underweight" rating and set a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $7.64.

European Wax Center Trading Up 3.2 %

Shares of EWCZ traded up $0.19 during mid-day trading on Friday, hitting $6.04. The company had a trading volume of 592,224 shares, compared to its average volume of 719,238. European Wax Center, Inc. has a 1-year low of $4.80 and a 1-year high of $16.07. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The business's 50-day simple moving average is $6.73 and its 200-day simple moving average is $7.94. The stock has a market cap of $343.92 million, a PE ratio of 26.26, a P/E/G ratio of 2.35 and a beta of 1.01.

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.