Canada Pension Plan Investment Board Sells 182,400 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Canada Pension Plan Investment Board cut its holdings in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 76.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 56,100 shares of the company's stock after selling 182,400 shares during the period. Canada Pension Plan Investment Board owned approximately 0.10% of European Wax Center worth $374,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. SG Americas Securities LLC lifted its holdings in shares of European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company's stock valued at $103,000 after purchasing an additional 1,690 shares in the last quarter. Wells Fargo & Company MN raised its holdings in shares of European Wax Center by 46.6% in the fourth quarter. Wells Fargo & Company MN now owns 15,836 shares of the company's stock valued at $106,000 after purchasing an additional 5,033 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of European Wax Center during the fourth quarter valued at about $106,000. DRW Securities LLC bought a new stake in European Wax Center in the 4th quarter worth about $139,000. Finally, Aristides Capital LLC purchased a new position in shares of European Wax Center in the 4th quarter worth approximately $226,000. Institutional investors own 82.14% of the company's stock.

European Wax Center Price Performance

EWCZ traded down $0.01 during trading on Thursday, reaching $3.11. 133,768 shares of the company were exchanged, compared to its average volume of 773,773. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a market cap of $172.13 million, a price-to-earnings ratio of 13.67, a P/E/G ratio of 1.72 and a beta of 1.15. European Wax Center, Inc. has a 12-month low of $2.72 and a 12-month high of $12.11. The company's 50-day moving average is $4.23 and its two-hundred day moving average is $5.77.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on EWCZ shares. Morgan Stanley decreased their target price on European Wax Center from $5.00 to $4.00 and set an "underweight" rating for the company in a research report on Wednesday, March 12th. Piper Sandler cut shares of European Wax Center from an "overweight" rating to a "neutral" rating and lowered their price target for the stock from $9.00 to $7.00 in a report on Monday, January 6th. Telsey Advisory Group restated a "market perform" rating and issued a $6.00 target price on shares of European Wax Center in a research note on Tuesday, March 11th. Robert W. Baird lowered their price objective on 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. Finally, Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $6.94.

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.