European Wax Center, Inc. (NASDAQ:EWCZ) Shares Acquired by Y Intercept Hong Kong Ltd

Key Points

• Y Intercept Hong Kong Ltd increased its holdings in European Wax Center by 340.9% in the first quarter, owning approximately 0.21% of the company valued at $470,000.
• Analysts have generally rated European Wax Center's stock as a "Hold," with a consensus target price of $7.00, reflecting mixed sentiments amidst recent price adjustments.
• European Wax Center reported earnings per share of $0.17 for the last quarter, surpassing analyst estimates and indicating a healthy revenue growth of $51.43 million.

Y Intercept Hong Kong Ltd lifted its stake in European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) by 340.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 118,952 shares of the company's stock after buying an additional 91,972 shares during the period. Y Intercept Hong Kong Ltd owned approximately 0.21% of European Wax Center worth $470,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of EWCZ. American Century Companies Inc. boosted its stake in European Wax Center by 7.6% during the 4th quarter. American Century Companies Inc. now owns 50,616 shares of the company's stock worth $338,000 after purchasing an additional 3,584 shares during the period. Diametric Capital LP acquired a new stake in European Wax Center during the 4th quarter worth $282,000. ExodusPoint Capital Management LP boosted its stake in European Wax Center by 7.5% during the 4th quarter. ExodusPoint Capital Management LP now owns 34,871 shares of the company's stock worth $233,000 after purchasing an additional 2,429 shares during the period. Landscape Capital Management L.L.C. boosted its stake in European Wax Center by 10.6% during the 4th quarter. Landscape Capital Management L.L.C. now owns 200,155 shares of the company's stock worth $1,335,000 after purchasing an additional 19,108 shares during the period. Finally, Wells Fargo & Company MN boosted its stake 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 during the period. 82.14% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of European Wax Center from a "buy" rating to a "strong-buy" rating in a research note on Saturday, July 12th. Telsey Advisory Group restated a "market perform" rating and issued a $5.00 target price on shares of European Wax Center in a research note on Thursday, May 15th. Citigroup raised 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 note on Monday, May 19th. Finally, Truist Financial raised 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 note on Thursday, May 15th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $7.00.

European Wax Center Trading Up 0.4%

Shares of NASDAQ EWCZ traded up $0.02 during midday trading on Thursday, reaching $4.65. 201,667 shares of the stock were exchanged, compared to its average volume of 662,835. The company has a market capitalization of $256.73 million, a P/E ratio of 23.18, a P/E/G ratio of 0.45 and a beta of 1.50. European Wax Center, Inc. has a 52-week low of $2.72 and a 52-week high of $9.66. The company has a current ratio of 2.71, a quick ratio of 2.18 and a debt-to-equity ratio of 3.79. The stock has a 50 day moving average price of $5.44 and a 200-day moving average price of $5.18.

European Wax Center (NASDAQ:EWCZ - Get Free Report) last issued its quarterly earnings results on Wednesday, May 14th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.05 by $0.12. European Wax Center had a net margin of 4.38% and a return on equity of 23.65%. The business had revenue of $51.43 million during the quarter, compared to the consensus estimate of $49.70 million. Equities research analysts expect that European Wax Center, Inc. will post 0.26 earnings per share for the current fiscal year.

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.