Kanen Wealth Management LLC Takes Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Kanen Wealth Management LLC acquired a new position in shares of European Wax Center, Inc. (NASDAQ:EWCZ) in the 4th quarter, HoldingsChannel.com reports. The firm acquired 95,435 shares of the company’s stock, valued at approximately $637,000. European Wax Center comprises approximately 0.2% of Kanen Wealth Management LLC’s portfolio, making the stock its 20th largest holding.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EWCZ. Massachusetts Financial Services Co. MA grew its holdings in European Wax Center by 4.9% in 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. FMR LLC boosted its position 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 purchasing an additional 428,280 shares in the last quarter. Southpoint Capital Advisors LP grew its stake in European Wax Center by 5.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after buying an additional 100,000 shares during the last quarter. Geode Capital Management LLC increased its position in European Wax Center by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after buying an additional 30,804 shares in the last quarter. Finally, Millennium Management LLC raised its stake in 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 last quarter. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Insider Buying and Selling at European Wax Center

In other European Wax Center news, Director Nital P. Scott sold 4,344 shares of the company’s stock in a transaction that occurred on Tuesday, December 17th. The stock was sold at an average price of $5.85, for a total value of $25,412.40. Following the sale, the director now owns 29,262 shares in the company, valued at approximately $171,182.70. This represents a 12.93 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 6.14% of the company’s stock.

European Wax Center Stock Performance

EWCZ opened at $6.36 on Monday. The firm has a market capitalization of $362.14 million, a PE ratio of 27.65, a P/E/G ratio of 2.17 and a beta of 0.95. European Wax Center, Inc. has a 12-month low of $4.80 and a 12-month high of $15.95. The firm has a 50 day moving average of $6.19 and a two-hundred day moving average of $7.04. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EWCZ. Piper Sandler lowered European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $9.00 to $7.00 in a research note on Monday, January 6th. Telsey Advisory Group reissued a “market perform” rating and set a $6.00 target price on shares of European Wax Center in a research report on Tuesday, January 14th. Finally, Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a report on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, European Wax Center has a consensus rating of “Hold” and an average target price of $6.64.

European Wax Center 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.