Bank of America Corp DE Raises Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Bank of America Corp DE increased its holdings in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 53.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 591,788 shares of the company's stock after acquiring an additional 207,377 shares during the quarter. Bank of America Corp DE owned about 1.04% of European Wax Center worth $3,947,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EWCZ. Two Sigma Securities LLC acquired a new position in shares of European Wax Center in the 4th quarter valued at $83,000. Price T Rowe Associates Inc. MD lifted 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 acquired a new position in shares of European Wax Center in the 4th quarter worth approximately $88,000. SG Americas Securities LLC lifted its holdings in shares of European Wax Center by 12.3% in the 4th 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 4th quarter worth approximately $106,000. 82.14% of the stock is currently owned by institutional investors and hedge funds.

European Wax Center Stock Down 2.9%

Shares of NASDAQ EWCZ traded down $0.15 during mid-day trading on Friday, reaching $5.06. The company had a trading volume of 305,372 shares, compared to its average volume of 803,014. The company has a current ratio of 3.17, a quick ratio of 2.42 and a debt-to-equity ratio of 3.81. The firm has a 50 day simple moving average of $3.97 and a two-hundred day simple moving average of $5.35. The stock has a market cap of $279.34 million, a P/E ratio of 22.00, a PEG ratio of 1.72 and a beta of 1.17. European Wax Center, Inc. has a 52-week low of $2.72 and a 52-week high of $12.04.

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

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wall Street Zen upgraded shares of European Wax Center from a "hold" rating to a "strong-buy" rating in a report on Thursday, May 22nd. Truist Financial increased their target price on shares of European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a report on Thursday, May 15th. Morgan Stanley reduced their target price on shares of European Wax Center from $5.00 to $4.00 and set an "underweight" rating on the stock in a report on Wednesday, March 12th. Citigroup increased their target price 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. Finally, Jefferies Financial Group set a $15.00 target price on shares of European Wax Center in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, European Wax Center currently has a consensus rating of "Hold" and an average price target of $7.00.

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.