Y Intercept Hong Kong Ltd Makes New $451,000 Investment in European Wax Center, Inc. (NASDAQ:EWCZ)

Y Intercept Hong Kong Ltd purchased a new position in European Wax Center, Inc. (NASDAQ:EWCZ) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 66,258 shares of the company’s stock, valued at approximately $451,000.

A number of other hedge funds also recently modified their holdings of the business. Algert Global LLC grew its position in shares of European Wax Center by 720.4% in the 3rd quarter. Algert Global LLC now owns 111,137 shares of the company’s stock valued at $756,000 after purchasing an additional 97,590 shares during the period. Millennium Management LLC boosted its holdings in shares of European Wax Center by 44.0% in the second quarter. Millennium Management LLC now owns 538,972 shares of the company’s stock valued at $5,352,000 after buying an additional 164,688 shares during the period. FMR LLC increased its position in shares of European Wax Center by 18.9% during the third quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after acquiring an additional 428,280 shares in the last quarter. Massachusetts Financial Services Co. MA raised 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 acquiring an additional 155,875 shares during the period. Finally, Walleye Capital LLC bought a new stake in European Wax Center in the 3rd quarter valued at $754,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on EWCZ. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Bank of America cut their target price 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. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research note on Thursday. One research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, European Wax Center has a consensus rating of “Hold” and a consensus price target of $7.64.

European Wax Center Stock Performance

EWCZ opened at $6.04 on Monday. The business’s 50-day simple moving average is $6.73 and its 200 day simple moving average is $7.90. 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 firm has a market capitalization of $343.94 million, a PE ratio of 26.26, a PEG 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.