Olympiad Research LP Makes New Investment in European Wax Center, Inc. (NASDAQ:EWCZ)

Olympiad Research LP purchased a new stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) during the third quarter, Holdings Channel.com reports. The institutional investor purchased 23,061 shares of the company’s stock, valued at approximately $157,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Champlain Investment Partners LLC increased its stake in European Wax Center by 13.1% during the 1st quarter. Champlain Investment Partners LLC now owns 3,745,511 shares of the company’s stock valued at $48,617,000 after buying an additional 435,270 shares during the period. Marshall Wace LLP bought a new stake in European Wax Center during the second quarter worth approximately $3,274,000. Bamco Inc. NY lifted its position in European Wax Center by 8.8% in the first quarter. Bamco Inc. NY now owns 3,265,000 shares of the company’s stock worth $42,380,000 after purchasing an additional 265,000 shares during the period. Millennium Management LLC boosted its stake in European Wax Center by 44.0% during the 2nd quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after purchasing an additional 164,688 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased 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 valued at $31,564,000 after purchasing an additional 81,704 shares during the period. 82.14% of the stock is currently owned by institutional investors.

European Wax Center Stock Down 1.4 %

EWCZ stock opened at $7.93 on Friday. The company’s 50 day simple moving average is $7.04 and its 200-day simple moving average is $8.79. European Wax Center, Inc. has a 52-week low of $4.80 and a 52-week high of $16.07. The company has a debt-to-equity ratio of 3.18, a current ratio of 3.49 and a quick ratio of 2.72. The firm has a market capitalization of $475.64 million, a P/E ratio of 30.50, a P/E/G ratio of 2.58 and a beta of 1.11.

European Wax Center (NASDAQ:EWCZ) last released its earnings results on Wednesday, August 14th. The company reported $0.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.05. The company had revenue of $59.87 million during the quarter, compared to analyst estimates of $61.27 million. European Wax Center had a return on equity of 13.84% and a net margin of 5.61%. As a group, equities research analysts anticipate that European Wax Center, Inc. will post 0.24 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. Telsey Advisory Group restated an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a report on Friday, September 20th. Truist Financial 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 report on Thursday, August 15th. Morgan Stanley dropped their target price on shares of European Wax Center from $14.00 to $5.00 and set an “equal weight” rating on the stock in a report on Thursday, August 15th. Bank of America reduced their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Robert W. Baird dropped their price target on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a report on Thursday, August 15th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $7.64.

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.