European Wax Center, Inc. (NASDAQ:EWCZ) Director Nital P. Scott Sells 4,344 Shares of Stock

European Wax Center, Inc. (NASDAQ:EWCZ) Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the transaction, the director now owns 29,262 shares of the company’s stock, valued at $171,182.70. This represents a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

European Wax Center Trading Down 5.8 %

Shares of European Wax Center stock opened at $5.24 on Friday. European Wax Center, Inc. has a fifty-two week low of $4.80 and a fifty-two week high of $16.07. The business’s fifty day moving average is $6.62 and its two-hundred day moving average is $7.79. 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 firm has a market cap of $298.38 million, a PE ratio of 22.78, a P/E/G ratio of 2.35 and a beta of 1.01.

Analysts Set New Price Targets

A number of research firms have recently weighed in on EWCZ. Telsey Advisory Group cut European Wax Center from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $8.00 to $6.00 in a report on Thursday. Morgan Stanley reiterated an “underweight” rating and set a $5.00 price objective on shares of European Wax Center in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, European Wax Center presently has a consensus rating of “Hold” and an average target price of $7.36.

Hedge Funds Weigh In On European Wax Center

Several institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in European Wax Center by 18.9% in the 3rd 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 during the period. Marshall Wace LLP acquired a new stake in shares of European Wax Center in the second quarter worth approximately $3,274,000. Landscape Capital Management L.L.C. acquired a new position in European Wax Center during the third quarter worth approximately $1,231,000. Millennium Management LLC raised its stake in European Wax Center by 44.0% during the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock worth $5,352,000 after purchasing an additional 164,688 shares during the period. Finally, Massachusetts Financial Services Co. MA raised its stake in European Wax Center by 4.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after purchasing an additional 155,875 shares during the period. 82.14% of the stock is currently owned by institutional investors and hedge funds.

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.