Walleye Capital LLC Acquires Shares of 110,912 European Wax Center, Inc. (NASDAQ:EWCZ)

Walleye Capital LLC bought a new position in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) in the third quarter, according to the company in its most recent disclosure with the SEC. The fund bought 110,912 shares of the company's stock, valued at approximately $754,000. Walleye Capital LLC owned 0.18% of European Wax Center at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of European Wax Center by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company's stock valued at $24,523,000 after purchasing an additional 29,918 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company's stock valued at $369,000 after buying an additional 31,022 shares during the period. Victory Capital Management Inc. increased its holdings in European Wax Center by 25.7% during the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company's stock valued at $566,000 after buying an additional 11,650 shares during the last quarter. 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 during the period. Finally, Canada Pension Plan Investment Board boosted its stake in shares of European Wax Center by 15.5% during the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company's stock worth $836,000 after acquiring an additional 11,300 shares during the last quarter. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EWCZ shares. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $8.00 target price on shares of European Wax Center in a report on Thursday, November 14th. Truist Financial cut their price objective on 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. 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 research note on Thursday, August 15th. Morgan Stanley reaffirmed an "underweight" rating and set a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. Finally, 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. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, European Wax Center has an average rating of "Hold" and an average target price of $7.64.

European Wax Center Price Performance

Shares of EWCZ stock traded down $0.06 during mid-day trading on Friday, hitting $6.40. The company had a trading volume of 705,801 shares, compared to its average volume of 1,339,164. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The stock's 50 day moving average price is $6.80 and its 200-day moving average price is $8.08. European Wax Center, Inc. has a 52-week low of $4.80 and a 52-week high of $16.07. The company has a market capitalization of $364.42 million, a P/E ratio of 27.83, a P/E/G ratio of 2.45 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.