390,569 Shares in European Wax Center, Inc. (NASDAQ:EWCZ) Purchased by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. acquired approximately $1.54 million worth of shares in European Wax Center, representing about 0.71% of the company as of the end of the first quarter.
• Multiple institutional investors made significant adjustments to their positions in European Wax Center during the first quarter, with Massachusetts Financial Services Co. MA increasing its stake by 378.4%.
• The company's stock has seen analysts rating it with a consensus of "Hold", and the average price target has been set at $7.00 following various upgrades and downgrades.

Federated Hermes Inc. purchased a new stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 390,569 shares of the company's stock, valued at approximately $1,543,000. Federated Hermes Inc. owned approximately 0.71% of European Wax Center at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of EWCZ. Two Sigma Securities LLC acquired a new position in shares of European Wax Center during the fourth quarter valued at about $83,000. Price T Rowe Associates Inc. MD raised its holdings 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 worth $84,000 after acquiring an additional 1,582 shares during the last quarter. Oxford Asset Management LLP bought a new position in European Wax Center in the 4th quarter valued at about $88,000. Royce & Associates LP boosted its stake in European Wax Center by 59.3% during the 1st quarter. Royce & Associates LP now owns 23,411 shares of the company's stock valued at $92,000 after purchasing an additional 8,713 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in European Wax Center by 46.6% during the 4th 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. Institutional investors and hedge funds own 82.14% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EWCZ. Telsey Advisory Group reissued a "market perform" rating and issued a $5.00 price objective on shares of European Wax Center in a research note on Wednesday. Truist Financial upped their price target on European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Wall Street Zen cut European Wax Center from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 2nd. Finally, Citigroup lifted their price objective on shares of European Wax Center from $4.50 to $6.00 and gave the stock a "neutral" rating in a report on Monday, May 19th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $7.00.

European Wax Center Stock Performance

Shares of EWCZ stock traded down $0.05 during trading on Friday, hitting $4.17. The company's stock had a trading volume of 403,201 shares, compared to its average volume of 384,260. The company has a current ratio of 2.71, a quick ratio of 2.18 and a debt-to-equity ratio of 3.79. The company has a market cap of $230.23 million, a PE ratio of 20.85, a P/E/G ratio of 0.41 and a beta of 1.48. The business has a fifty day moving average of $5.31 and a 200-day moving average of $5.07. European Wax Center, Inc. has a 52 week low of $2.72 and a 52 week high of $8.91.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last posted its quarterly earnings data 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 return on equity of 23.65% and a net margin of 4.38%. The business had revenue of $51.43 million for the quarter, compared to analysts' expectations of $49.70 million. As a group, research analysts anticipate 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.