Fred Alger Management LLC Sells 2,356 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Fred Alger Management LLC lessened its holdings in European Wax Center, Inc. (NASDAQ:EWCZ) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,989 shares of the company’s stock after selling 2,356 shares during the period. Fred Alger Management LLC owned approximately 0.34% of European Wax Center worth $1,367,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EWCZ. Vanguard Group Inc. boosted its position in European Wax Center by 1.6% in the first quarter. Vanguard Group Inc. now owns 1,889,324 shares of the company’s stock worth $24,523,000 after purchasing an additional 29,918 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its position in European Wax Center by 16.5% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 95,514 shares of the company’s stock valued at $1,240,000 after buying an additional 13,497 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in European Wax Center by 508.9% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,118 shares of the company’s stock valued at $369,000 after buying an additional 31,022 shares during the period. Victory Capital Management Inc. increased its holdings in European Wax Center by 25.7% during the second quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock worth $566,000 after buying an additional 11,650 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in European Wax Center by 2.6% in the second quarter. Massachusetts Financial Services Co. MA now owns 3,178,657 shares of the company’s stock worth $31,564,000 after acquiring an additional 81,704 shares during the period. 82.14% of the stock is owned by institutional investors.

European Wax Center Trading Up 1.3 %

Shares of EWCZ opened at $6.01 on Monday. The business’s 50-day moving average price is $6.87 and its 200-day moving average price is $8.24. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center, Inc. has a twelve month low of $4.80 and a twelve month high of $16.07. The stock has a market cap of $342.23 million, a PE ratio of 26.13, a P/E/G ratio of 2.30 and a beta of 1.11.

Wall Street Analysts Forecast Growth

EWCZ has been the subject of several research analyst reports. Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $16.00 to $5.50 in a research note on Thursday, August 15th. Truist Financial lowered 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 Thursday, August 15th. Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 price target on shares of European Wax Center in a research note on Thursday, November 14th. Robert W. Baird lowered 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. Finally, Morgan Stanley reiterated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus 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.