Y Intercept Hong Kong Ltd Purchases Shares of 66,258 European Wax Center, Inc. (NASDAQ:EWCZ)

Y Intercept Hong Kong Ltd acquired a new stake in European Wax Center, Inc. (NASDAQ:EWCZ) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 66,258 shares of the company’s stock, valued at approximately $451,000. Y Intercept Hong Kong Ltd owned approximately 0.11% of European Wax Center as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in EWCZ. Zurcher Kantonalbank Zurich Cantonalbank raised its position in European Wax Center by 508.9% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock worth $369,000 after purchasing an additional 31,022 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after buying an additional 11,650 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of European Wax Center by 2.6% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after buying an additional 81,704 shares during the period. Canada Pension Plan Investment Board boosted its stake in European Wax Center by 15.5% in the 2nd quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock valued at $836,000 after buying an additional 11,300 shares in the last quarter. Finally, Marshall Wace LLP bought a new stake in European Wax Center in the second quarter valued at $3,274,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have issued reports on EWCZ shares. Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Morgan Stanley restated an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research report on Friday, November 15th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 price objective on shares of European Wax Center in a report on Thursday. One analyst has rated the stock with a sell rating, two have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, European Wax Center currently has an average rating of “Hold” and a consensus price target of $7.64.

European Wax Center Stock Up 3.2 %

Shares of NASDAQ EWCZ opened at $6.04 on Monday. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $16.07. The firm’s 50-day simple moving average is $6.73 and its 200 day simple moving average is $7.90. 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 company has a market cap of $343.94 million, a price-to-earnings ratio of 26.26, a price-to-earnings-growth ratio of 2.35 and a beta of 1.01.

About European Wax Center

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.