European Wax Center, Inc. (NASDAQ:EWCZ) is Ararat Capital Management LP’s 9th Largest Position

Ararat Capital Management LP boosted its stake in European Wax Center, Inc. (NASDAQ:EWCZ) by 8.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,418,693 shares of the company’s stock after purchasing an additional 181,449 shares during the quarter. European Wax Center makes up 6.4% of Ararat Capital Management LP’s investment portfolio, making the stock its 9th largest position. Ararat Capital Management LP owned about 4.25% of European Wax Center worth $16,133,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. CenterBook Partners LP boosted its position in shares of European Wax Center by 42.2% in the fourth quarter. CenterBook Partners LP now owns 1,717,249 shares of the company’s stock valued at $11,454,000 after acquiring an additional 509,991 shares during the period. Geode Capital Management LLC grew its position in shares of European Wax Center by 3.9% during the 3rd quarter. Geode Capital Management LLC now owns 820,728 shares of the company’s stock valued at $5,582,000 after purchasing an additional 30,804 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of European Wax Center by 65.1% in the fourth quarter. Marshall Wace LLP now owns 494,531 shares of the company’s stock worth $3,299,000 after purchasing an additional 194,931 shares during the period. Highland Peak Capital LLC purchased a new stake in shares of European Wax Center in the fourth quarter worth $2,745,000. Finally, Northern Trust Corp boosted its stake in European Wax Center by 3.4% during the fourth quarter. Northern Trust Corp now owns 297,447 shares of the company’s stock valued at $1,984,000 after buying an additional 9,866 shares during the period. 82.14% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on EWCZ. Piper Sandler downgraded European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $7.00 in a research report on Monday, January 6th. Truist Financial decreased their price target on shares of European Wax Center from $6.00 to $5.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Robert W. Baird cut their target price on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research report on Wednesday, March 12th. Jefferies Financial Group set a $15.00 price target on European Wax Center in a research report on Tuesday, March 11th. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $6.00 price objective on shares of European Wax Center in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $6.94.

European Wax Center Stock Up 8.4 %

Shares of NASDAQ EWCZ opened at $3.36 on Friday. The firm’s fifty day moving average is $4.10 and its 200 day moving average is $5.73. European Wax Center, Inc. has a 52 week low of $2.72 and a 52 week high of $12.11. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. The company has a market cap of $185.96 million, a price-to-earnings ratio of 14.61, a PEG ratio of 1.72 and a beta of 1.15.

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.