MIG Capital LLC Decreases Holdings in European Wax Center, Inc. (NASDAQ:EWCZ)

MIG Capital LLC reduced its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 1.5% in the 4th quarter, Holdings Channel reports. The firm owned 2,057,186 shares of the company’s stock after selling 31,270 shares during the quarter. European Wax Center accounts for approximately 1.4% of MIG Capital LLC’s portfolio, making the stock its 22nd biggest position. MIG Capital LLC’s holdings in European Wax Center were worth $13,721,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. FMR LLC grew its stake in shares of European Wax Center by 18.9% in the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after buying an additional 428,280 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in European Wax Center by 37.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock worth $348,000 after acquiring an additional 14,086 shares during the period. Walleye Capital LLC acquired a new stake in European Wax Center in the third quarter valued at approximately $754,000. XTX Topco Ltd purchased a new stake in shares of European Wax Center during the third quarter valued at approximately $162,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of European Wax Center during the third quarter worth $451,000. 82.14% of the stock is owned by hedge funds and other institutional investors.

European Wax Center Stock Up 2.6 %

NASDAQ:EWCZ opened at $3.56 on Friday. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17. The company has a market capitalization of $197.03 million, a price-to-earnings ratio of 15.48, a price-to-earnings-growth ratio of 1.72 and a beta of 1.15. European Wax Center, Inc. has a one year low of $2.72 and a one year high of $12.89. The stock has a 50-day simple moving average of $5.66 and a 200 day simple moving average of $6.26.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EWCZ. Piper Sandler lowered shares of European Wax Center from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $9.00 to $7.00 in a report on Monday, January 6th. Telsey Advisory Group restated a “market perform” rating and set a $6.00 target price on shares of European Wax Center in a research note on Tuesday, March 11th. Jefferies Financial Group set a $15.00 price target on European Wax Center in a research note on Tuesday, March 11th. Robert W. Baird reduced their price target on European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a report on Wednesday, March 12th. Finally, Morgan Stanley dropped their price objective on European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a report on Wednesday, March 12th. One analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $7.31.

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.