MIG Capital LLC Has $4.90 Million Holdings in European Wax Center, Inc. $EWCZ

Key Points

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MIG Capital LLC lessened its position in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 39.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,240,529 shares of the company's stock after selling 816,657 shares during the period. European Wax Center makes up about 0.6% of MIG Capital LLC's portfolio, making the stock its 22nd largest holding. MIG Capital LLC owned approximately 2.24% of European Wax Center worth $4,900,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Two Sigma Securities LLC acquired a new position in European Wax Center during the 4th quarter worth approximately $83,000. Price T Rowe Associates Inc. MD increased its position in European Wax Center by 14.6% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company's stock worth $84,000 after purchasing an additional 1,582 shares in the last quarter. Oxford Asset Management LLP acquired a new position in European Wax Center during the 4th quarter worth approximately $88,000. Royce & Associates LP increased its position in European Wax Center by 59.3% during the 1st quarter. Royce & Associates LP now owns 23,411 shares of the company's stock worth $92,000 after purchasing an additional 8,713 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position 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 worth $106,000 after purchasing an additional 5,033 shares in the last quarter. Institutional investors own 82.14% of the company's stock.

European Wax Center Trading Up 5.3%

Shares of EWCZ traded up $0.24 during trading hours on Friday, hitting $4.77. 539,381 shares of the stock were exchanged, compared to its average volume of 512,825. European Wax Center, Inc. has a fifty-two week low of $2.72 and a fifty-two week high of $8.91. The company has a debt-to-equity ratio of 3.53, a current ratio of 3.38 and a quick ratio of 2.76. The business has a 50-day moving average of $5.06 and a 200-day moving average of $4.89. The firm has a market capitalization of $263.40 million, a P/E ratio of 23.85, a price-to-earnings-growth ratio of 0.46 and a beta of 1.48.

Analyst Upgrades and Downgrades

EWCZ has been the subject of a number of research analyst reports. Telsey Advisory Group reiterated a "market perform" rating and set a $5.00 price objective on shares of European Wax Center in a research report on Wednesday, August 13th. Citigroup upped their price target on shares of European Wax Center from $4.50 to $6.00 and gave the company a "neutral" rating in a research report on Monday, May 19th. Truist Financial upped their price target on shares of European Wax Center from $5.00 to $6.00 and gave the company a "buy" rating in a research report on Thursday, May 15th. Robert W. Baird set a $5.50 price target on shares of European Wax Center in a research report on Thursday, August 14th. Finally, Wall Street Zen cut shares of European Wax Center from a "strong-buy" rating to a "buy" rating in a research report on Saturday, August 2nd. One analyst has rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $6.93.

About European Wax Center

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.