Balyasny Asset Management L.P. Grows Holdings in European Wax Center, Inc. (NASDAQ:EWCZ)

Balyasny Asset Management L.P. grew its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 31.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 399,228 shares of the company's stock after acquiring an additional 96,626 shares during the quarter. Balyasny Asset Management L.P. owned about 0.70% of European Wax Center worth $2,663,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of EWCZ. Barclays PLC grew its position in European Wax Center by 2.7% during the 4th quarter. Barclays PLC now owns 58,064 shares of the company's stock valued at $388,000 after purchasing an additional 1,554 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of European Wax Center by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company's stock valued at $84,000 after buying an additional 1,582 shares during the last quarter. SG Americas Securities LLC increased its position in shares of European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company's stock valued at $103,000 after acquiring an additional 1,690 shares in the last quarter. ExodusPoint Capital Management LP increased its position in shares of European Wax Center by 7.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 34,871 shares of the company's stock valued at $233,000 after acquiring an additional 2,429 shares in the last quarter. Finally, American Century Companies Inc. raised its holdings in European Wax Center by 7.6% in the 4th quarter. American Century Companies Inc. now owns 50,616 shares of the company's stock worth $338,000 after acquiring an additional 3,584 shares during the last quarter. Hedge funds and other institutional investors own 82.14% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on EWCZ shares. Truist Financial lifted their target price on European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday. Telsey Advisory Group reissued a "market perform" rating and issued a $5.00 target price on shares of European Wax Center in a research report on Thursday. Robert W. Baird lowered 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 research note on Wednesday, March 12th. Morgan Stanley reduced their price target on shares of European Wax Center from $5.00 to $4.00 and set an "underweight" rating for the company in a research note on Wednesday, March 12th. Finally, Jefferies Financial Group set a $15.00 price objective on shares of European Wax Center in a report on Tuesday, March 11th. One equities research 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's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $6.94.

European Wax Center Stock Performance

Shares of NASDAQ:EWCZ traded up $0.69 during trading on Thursday, hitting $5.50. The company's stock had a trading volume of 1,558,653 shares, compared to its average volume of 800,239. 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 firm has a market cap of $304.40 million, a price-to-earnings ratio of 23.91, a P/E/G ratio of 1.72 and a beta of 1.17. The company has a 50-day moving average of $3.72 and a 200-day moving average of $5.55. European Wax Center, Inc. has a 12 month low of $2.72 and a 12 month high of $12.05.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last released its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.12. European Wax Center had a net margin of 4.96% and a return on equity of 16.51%. The business had revenue of $51.43 million for the quarter, compared to the consensus estimate of $49.70 million. On average, sell-side analysts expect that European Wax Center, Inc. will post 0.26 earnings per share for the current year.

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.