Ararat Capital Management LP Has $16.13 Million Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Ararat Capital Management LP increased its holdings in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,418,693 shares of the company's stock after buying an additional 181,449 shares during the period. European Wax Center comprises approximately 6.4% of Ararat Capital Management LP's portfolio, making the stock its 9th largest position. Ararat Capital Management LP owned 4.25% of European Wax Center worth $16,133,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in shares of European Wax Center during the fourth quarter valued at $83,000. Price T Rowe Associates Inc. MD grew its position in shares of European Wax Center by 14.6% in the 4th 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. Oxford Asset Management LLP acquired a new stake in shares of European Wax Center in the fourth quarter valued at about $88,000. SG Americas Securities LLC raised 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 worth $103,000 after acquiring an additional 1,690 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of European Wax Center in the fourth quarter worth approximately $106,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Price Performance

Shares of EWCZ traded up $0.08 during mid-day trading on Thursday, reaching $3.53. 485,002 shares of the stock traded hands, compared to its average volume of 789,589. The company has a market cap of $195.37 million, a price-to-earnings ratio of 15.35, a price-to-earnings-growth ratio of 1.72 and a beta of 1.17. European Wax Center, Inc. has a 1 year low of $2.72 and a 1 year high of $12.05. The firm has a fifty day moving average price of $3.91 and a 200 day moving average price of $5.65. 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 analysts have weighed in on EWCZ shares. Robert W. Baird decreased their target price on shares of European Wax Center from $7.00 to $5.00 and set a "neutral" rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a research note on Tuesday, March 11th. Telsey Advisory Group restated a "market perform" rating and issued a $6.00 target price on shares of European Wax Center in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective 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. Finally, Truist Financial cut their target price on European Wax Center from $6.00 to $5.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $6.94.

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.