MIG Capital LLC Sells 758,781 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

MIG Capital LLC decreased its holdings in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 26.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,088,456 shares of the company’s stock after selling 758,781 shares during the period. European Wax Center accounts for about 1.7% of MIG Capital LLC’s portfolio, making the stock its 19th biggest position. MIG Capital LLC owned 3.48% of European Wax Center worth $14,202,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Quantbot Technologies LP lifted its stake in European Wax Center by 52.3% in the third quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock valued at $153,000 after buying an additional 7,709 shares during the period. FMR LLC lifted its position in shares of European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock valued at $18,345,000 after acquiring an additional 428,280 shares during the period. Algert Global LLC boosted its stake in European Wax Center by 720.4% during the third quarter. Algert Global LLC now owns 111,137 shares of the company’s stock worth $756,000 after acquiring an additional 97,590 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in European Wax Center by 4.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after purchasing an additional 155,875 shares during the period. Finally, Landscape Capital Management L.L.C. bought a new stake in European Wax Center in the third quarter valued at $1,231,000. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Stock Up 0.7 %

Shares of NASDAQ:EWCZ opened at $5.93 on Thursday. The company has a market capitalization of $337.65 million, a PE ratio of 25.78, a price-to-earnings-growth ratio of 2.42 and a beta of 1.11. 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, Inc. has a 1 year low of $4.80 and a 1 year high of $16.07. The business has a fifty day moving average price of $6.94 and a two-hundred day moving average price of $8.33.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Bank of America reduced their target price on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Morgan Stanley reaffirmed an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Citigroup lowered shares of European Wax Center from a “buy” rating to a “neutral” rating and decreased their price target for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Truist Financial lowered their price objective on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $8.00 price objective on shares of European Wax Center in a report on Thursday, November 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, European Wax Center currently has a consensus rating of “Hold” and a consensus target price of $7.64.

About European Wax Center

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.