Nuveen LLC Makes New $361,000 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 stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) in the first quarter, according to the company in its most recent filing with the 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 as of its most recent filing with the SEC.

A number of other hedge funds have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in European Wax Center by 60.0% during the 1st quarter. Invesco Ltd. now owns 76,686 shares of the company's stock valued at $303,000 after purchasing an additional 28,763 shares during the last quarter. Federated Hermes Inc. acquired a new position in European Wax Center during the 1st quarter valued at about $1,543,000. 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. Y Intercept Hong Kong Ltd boosted its stake in European Wax Center by 340.9% during the 1st quarter. Y Intercept Hong Kong Ltd now owns 118,952 shares of the company's stock valued at $470,000 after purchasing an additional 91,972 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its stake in European Wax Center by 5.1% during the 1st quarter. Victory Capital Management Inc. now owns 150,978 shares of the company's stock valued at $596,000 after purchasing an additional 7,371 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company's stock.

European Wax Center Trading Down 2.1%

NASDAQ:EWCZ opened at $4.16 on Friday. The company has a current ratio of 3.38, a quick ratio of 2.76 and a debt-to-equity ratio of 3.53. The stock has a market capitalization of $229.72 million, a PE ratio of 20.80, a price-to-earnings-growth ratio of 0.39 and a beta of 1.48. The firm's 50 day moving average is $4.80 and its 200 day moving average is $4.74. European Wax Center, Inc. has a 12 month low of $2.72 and a 12 month high of $8.91.

Analyst Ratings Changes

A number of equities analysts have issued reports on EWCZ shares. Telsey Advisory Group reiterated a "market perform" rating and set a $5.00 price target on shares of European Wax Center in a research note on Wednesday, August 13th. Robert W. Baird set a $5.50 target price on shares of European Wax Center in a research report on Thursday, August 14th. Citigroup lifted their target price on shares of European Wax Center from $4.50 to $6.00 and gave the stock a "neutral" rating in a research report on Monday, May 19th. 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. Finally, Truist Financial lifted their target price on shares of European Wax Center from $5.00 to $6.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. One equities research 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 an average rating of "Hold" and a consensus target price of $6.93.

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.

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