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

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

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ opened at $5.24 on Friday. The company has a market cap of $298.38 million, a P/E ratio of 22.78, a PEG ratio of 2.35 and a beta of 1.01. European Wax Center, Inc. has a one year low of $4.80 and a one year high of $16.07. The business’s 50-day simple moving average is $6.62 and its 200 day simple moving average is $7.79. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17.

Institutional Trading of European Wax Center

A number of hedge funds have recently made changes to their positions in the company. Algert Global LLC grew its holdings in European Wax Center by 720.4% during 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 in the last quarter. Millennium Management LLC boosted its position in European Wax Center by 44.0% in the 2nd 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 last quarter. FMR LLC grew its stake 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 valued at $18,345,000 after acquiring an additional 428,280 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position 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 last quarter. Finally, Walleye Capital LLC purchased a new stake in shares of European Wax Center during the third quarter worth about $754,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Analyst Upgrades and Downgrades

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

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.