Kazazian Asset Management LLC Purchases New Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Kazazian Asset Management LLC purchased a new stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) during the 4th quarter, Holdings Channel reports. The fund purchased 267,114 shares of the company’s stock, valued at approximately $1,782,000. European Wax Center accounts for about 1.4% of Kazazian Asset Management LLC’s portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Massachusetts Financial Services Co. MA grew its holdings in shares of European Wax Center by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock valued at $22,675,000 after purchasing an additional 155,875 shares during the last quarter. FMR LLC grew its holdings in shares of European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after purchasing an additional 428,280 shares during the last quarter. Southpoint Capital Advisors LP grew its holdings in shares of 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 valued at $13,600,000 after purchasing an additional 100,000 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 30,804 shares during the last quarter. Finally, Highland Peak Capital LLC bought a new stake in shares of European Wax Center during the 4th quarter valued at approximately $2,745,000. 82.14% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

European Wax Center Stock Down 0.2 %

Shares of NASDAQ EWCZ opened at $4.21 on Wednesday. The company has a market capitalization of $239.73 million, a P/E ratio of 18.30, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center, Inc. has a 52-week low of $2.72 and a 52-week high of $13.31. 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 company’s 50 day moving average price is $6.30 and its 200-day moving average price is $6.52.

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.