Dynamic Technology Lab Private Ltd Sells 64,393 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Dynamic Technology Lab Private Ltd reduced its position in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 45.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,264 shares of the company’s stock after selling 64,393 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in European Wax Center were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in EWCZ. Marshall Wace LLP bought a new stake in shares of European Wax Center during the second quarter worth about $3,274,000. Landscape Capital Management L.L.C. bought a new stake in shares of European Wax Center during the third quarter worth about $1,231,000. Millennium Management LLC grew its holdings in shares of 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 last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of 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 last quarter. Finally, Algert Global LLC grew its holdings in shares of European Wax Center by 720.4% during the third quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after purchasing an additional 97,590 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors.

European Wax Center Price Performance

Shares of EWCZ opened at $6.01 on Friday. 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 3.81, a quick ratio of 2.42 and a current ratio of 3.17. The business’s 50 day moving average price is $6.89 and its two-hundred day moving average price is $8.30. The firm has a market cap of $342.21 million, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $16.00 to $5.50 in a report on Thursday, August 15th. Robert W. Baird cut their price objective on European Wax Center from $13.00 to $7.00 and set a “neutral” rating on the stock in a research note on Thursday, August 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price objective on shares of European Wax Center in a research note on Friday, November 15th. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $8.00 price objective on shares of European Wax Center in a research note on Thursday, November 14th. Finally, Bank of America cut their price objective on European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, European Wax Center has an average rating of “Hold” and an average price target of $7.64.

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.