Massachusetts Financial Services Co. MA Boosts Holdings in European Wax Center, Inc. (NASDAQ:EWCZ)

Massachusetts Financial Services Co. MA lifted its position in shares of European Wax Center, Inc. (NASDAQ:EWCZFree Report) by 2.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,203,893 shares of the company’s stock after buying an additional 52,893 shares during the period. Massachusetts Financial Services Co. MA owned approximately 3.51% of European Wax Center worth $35,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in EWCZ. Quantbot Technologies LP acquired a new stake in European Wax Center in the 3rd quarter valued at approximately $31,000. Point72 Middle East FZE acquired a new stake in European Wax Center in the 4th quarter valued at approximately $41,000. UBS Group AG boosted its position in European Wax Center by 184.8% in the 3rd quarter. UBS Group AG now owns 2,842 shares of the company’s stock valued at $52,000 after buying an additional 1,844 shares during the period. Ameritas Investment Partners Inc. boosted its position in European Wax Center by 77.8% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 2,820 shares of the company’s stock valued at $53,000 after buying an additional 1,234 shares during the period. Finally, Royal Bank of Canada boosted its position in European Wax Center by 78.3% in the 3rd quarter. Royal Bank of Canada now owns 2,888 shares of the company’s stock valued at $53,000 after buying an additional 1,268 shares during the period. Institutional investors and hedge funds own 74.97% of the company’s stock.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $14.29 on Friday. The company’s fifty day moving average price is $14.50 and its 200 day moving average price is $15.63. European Wax Center, Inc. has a 12 month low of $11.97 and a 12 month high of $20.70. The company has a debt-to-equity ratio of 2.74, a current ratio of 3.76 and a quick ratio of 3.00. The firm has a market capitalization of $892.27 million, a P/E ratio of 102.07 and a beta of 1.34.

European Wax Center (NASDAQ:EWCZGet Free Report) last announced its quarterly earnings results on Wednesday, November 8th. The company reported $0.06 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $55.72 million for the quarter, compared to analyst estimates of $59.09 million. European Wax Center had a return on equity of 39.58% and a net margin of 3.37%. As a group, sell-side analysts predict that European Wax Center, Inc. will post 0.23 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Morgan Stanley decreased their price target on shares of European Wax Center from $18.00 to $14.00 and set an “equal weight” rating for the company in a research report on Thursday, November 9th. Telsey Advisory Group decreased their price objective on shares of European Wax Center from $23.00 to $18.00 and set an “outperform” rating for the company in a research report on Thursday, November 9th. Piper Sandler lifted their price objective on shares of European Wax Center from $18.00 to $20.00 and gave the stock an “overweight” rating in a research report on Thursday, January 11th. Finally, Truist Financial decreased their price objective on shares of European Wax Center from $20.00 to $16.00 and set a “buy” rating for the company in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $17.80.

View Our Latest Research Report on European Wax Center

European Wax Center Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for European Wax Center (NASDAQ:EWCZ)

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