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

Diametric Capital LP acquired a new stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) during the fourth quarter, HoldingsChannel reports. The firm acquired 42,353 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. FMR LLC raised its holdings in shares of European Wax Center by 18.9% in the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after buying an additional 428,280 shares in the last quarter. Quantbot Technologies LP increased its position in European Wax Center by 52.3% in the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock valued at $153,000 after acquiring an additional 7,709 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in European Wax Center by 37.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock worth $348,000 after purchasing an additional 14,086 shares during the last quarter. Walleye Capital LLC bought a new stake in shares of European Wax Center during the third quarter worth $754,000. Finally, Atom Investors LP raised its holdings in European Wax Center by 57.4% during the 3rd quarter. Atom Investors LP now owns 184,784 shares of the company’s stock worth $1,257,000 after purchasing an additional 67,371 shares during the last quarter. Institutional investors own 82.14% of the company’s stock.

European Wax Center Price Performance

Shares of EWCZ opened at $4.20 on Wednesday. The firm has a market capitalization of $232.45 million, a PE ratio of 18.26, a PEG ratio of 1.72 and a beta of 0.95. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The company’s 50-day moving average is $5.84 and its 200-day moving average is $6.33. European Wax Center, Inc. has a fifty-two week low of $2.72 and a fifty-two week high of $12.89.

Analysts Set New Price Targets

EWCZ has been the topic of a number of analyst reports. Telsey Advisory Group reissued a “market perform” rating and issued a $6.00 price target on shares of European Wax Center in a research note on Tuesday, March 11th. Morgan Stanley cut their price target on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 12th. Robert W. Baird cut their price target on European Wax Center from $7.00 to $5.00 and set a “neutral” rating on the stock in a report on Wednesday, March 12th. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Finally, Jefferies Financial Group set a $15.00 price target on European Wax Center in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $7.31.

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.