275,000 Shares in European Wax Center, Inc. (NASDAQ:EWCZ) Purchased by Marathon Partners Equity Management LLC

Marathon Partners Equity Management LLC acquired a new position in shares of European Wax Center, Inc. (NASDAQ:EWCZ - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 275,000 shares of the company's stock, valued at approximately $1,834,000. European Wax Center accounts for about 1.6% of Marathon Partners Equity Management LLC's holdings, making the stock its 10th biggest position. Marathon Partners Equity Management LLC owned 0.48% of European Wax Center at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the business. Two Sigma Securities LLC purchased a new position in shares of European Wax Center in the fourth quarter valued at $83,000. Price T Rowe Associates Inc. MD boosted its stake in shares of European Wax Center by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,452 shares of the company's stock valued at $84,000 after purchasing an additional 1,582 shares during the period. Oxford Asset Management LLP purchased a new position in shares of European Wax Center in the fourth quarter valued at $88,000. SG Americas Securities LLC boosted its stake in shares of European Wax Center by 12.3% in the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company's stock valued at $103,000 after purchasing an additional 1,690 shares during the period. Finally, Intech Investment Management LLC purchased a new position in shares of European Wax Center in the fourth quarter valued at $106,000. 82.14% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on EWCZ. Truist Financial upped their target price 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. 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. Robert W. Baird cut their price target on shares of European Wax Center from $7.00 to $5.00 and set a "neutral" rating on the stock in a report on Wednesday, March 12th. Jefferies Financial Group set a $15.00 price target on shares of European Wax Center in a report on Tuesday, March 11th. Finally, Morgan Stanley cut their price target 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. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $6.94.

European Wax Center Stock Down 1.8%

EWCZ traded down $0.10 during trading on Friday, hitting $5.40. The company had a trading volume of 848,836 shares, compared to its average volume of 795,739. The company has a market cap of $298.87 million, a PE ratio of 23.48, a P/E/G ratio of 1.72 and a beta of 1.17. European Wax Center, Inc. has a 1-year low of $2.72 and a 1-year high of $12.04. The business has a 50-day moving average of $3.75 and a 200-day moving average of $5.51. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42.

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