Millennium Management LLC Sells 260,140 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Millennium Management LLC reduced its position in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 72.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 100,657 shares of the company's stock after selling 260,140 shares during the quarter. Millennium Management LLC owned approximately 0.18% of European Wax Center worth $671,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Interval Partners LP purchased a new stake in European Wax Center in the fourth quarter worth $1,234,000. Findell Capital Management LLC purchased a new stake in European Wax Center in the fourth quarter worth $1,668,000. D. E. Shaw & Co. Inc. increased its position in European Wax Center by 102.1% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,321,817 shares of the company's stock worth $8,817,000 after buying an additional 667,723 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in European Wax Center in the fourth quarter worth $357,000. Finally, Balyasny Asset Management L.P. increased its position in European Wax Center by 31.9% in the fourth quarter. Balyasny Asset Management L.P. now owns 399,228 shares of the company's stock worth $2,663,000 after buying an additional 96,626 shares during the last quarter. 82.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Citigroup raised their target price on European Wax Center from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. Jefferies Financial Group set a $15.00 price target on European Wax Center in a report on Tuesday, March 11th. Truist Financial raised 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. Robert W. Baird cut their price target on European Wax Center from $7.00 to $5.00 and set a "neutral" rating for the company in a report on Wednesday, March 12th. Finally, Telsey Advisory Group reaffirmed a "market perform" rating and issued a $5.00 price target on shares of European Wax Center in a report on Thursday, May 15th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $7.00.

European Wax Center Price Performance

NASDAQ:EWCZ traded up $0.26 during trading hours on Friday, hitting $5.83. 426,137 shares of the company's stock traded hands, compared to its average volume of 809,551. The firm has a market cap of $321.85 million, a P/E ratio of 25.35, a P/E/G ratio of 1.72 and a beta of 1.48. European Wax Center, Inc. has a 52 week low of $2.72 and a 52 week high of $12.04. The business's fifty day simple moving average is $4.12 and its two-hundred day simple moving average is $5.32. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81.

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 (EPS) for the quarter, beating the consensus estimate of $0.05 by $0.12. The company had revenue of $51.43 million during the quarter, compared to analyst estimates of $49.70 million. European Wax Center had a return on equity of 16.51% and a net margin of 4.96%. On average, research analysts anticipate that European Wax Center, Inc. will post 0.26 earnings per share for the current fiscal 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.