Nuveen LLC Makes New Investment in European Wax Center, Inc. $EWCZ

Key Points

• Nuveen LLC recently invested approximately $361,000 in European Wax Center, acquiring 91,515 shares, which represents a 0.17% stake in the company.
• Several hedge funds, including Invesco Ltd. and Federated Hermes Inc., have also increased their stakes in European Wax Center, indicating growing institutional interest in the stock.
• The current average target price for European Wax Center shares is $6.93, with ratings ranging from "Buy" to "Sell" among analysts, reflecting mixed sentiment on the stock's potential.

Nuveen LLC purchased a new position in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 91,515 shares of the company's stock, valued at approximately $361,000. Nuveen LLC owned about 0.17% of European Wax Center at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of European Wax Center by 14.6% during the fourth 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 during the last quarter. Royce & Associates LP grew its holdings in shares of European Wax Center by 59.3% during the first quarter. Royce & Associates LP now owns 23,411 shares of the company's stock worth $92,000 after purchasing an additional 8,713 shares during the last quarter. Wells Fargo & Company MN grew its holdings in shares of European Wax Center by 46.6% during the fourth 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 during the last quarter. Cornerstone Investment Partners LLC bought a new stake in shares of European Wax Center during the first quarter worth about $163,000. Finally, Hsbc Holdings PLC grew its holdings in shares of European Wax Center by 20.4% during the fourth quarter. Hsbc Holdings PLC now owns 37,402 shares of the company's stock worth $247,000 after purchasing an additional 6,348 shares during the last quarter. 82.14% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

European Wax Center Trading Up 5.1%

Shares of European Wax Center stock traded up $0.19 on Thursday, reaching $3.91. 730,510 shares of the company's stock were exchanged, compared to its average volume of 379,802. The company has a market capitalization of $215.91 million, a P/E ratio of 19.55, a price-to-earnings-growth ratio of 0.34 and a beta of 1.48. European Wax Center, Inc. has a 52 week low of $2.72 and a 52 week high of $8.91. The firm's 50-day moving average is $4.65 and its two-hundred day moving average is $4.66. The company has a debt-to-equity ratio of 3.53, a quick ratio of 2.76 and a current ratio of 3.38.

European Wax Center 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.