Insider Selling: European Wax Center, Inc. (NASDAQ:EWCZ) Insider Sells 30,000 Shares of Stock

European Wax Center, Inc. (NASDAQ:EWCZGet Rating) insider Jyoti A. Lynch sold 30,000 shares of European Wax Center stock in a transaction dated Tuesday, May 24th. The stock was sold at an average price of $21.50, for a total transaction of $645,000.00. Following the transaction, the insider now directly owns 6,000 shares of the company’s stock, valued at $129,000. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

European Wax Center stock traded up $0.44 during trading hours on Wednesday, hitting $24.64. The company had a trading volume of 459,842 shares, compared to its average volume of 407,464. The firm has a market cap of $1.56 billion and a P/E ratio of 205.33. The company has a debt-to-equity ratio of 0.50, a quick ratio of 2.09 and a current ratio of 2.84. European Wax Center, Inc. has a 1 year low of $18.55 and a 1 year high of $34.67. The company has a 50-day moving average price of $28.02 and a two-hundred day moving average price of $26.81.

European Wax Center (NASDAQ:EWCZGet Rating) last released its quarterly earnings data on Tuesday, March 15th. The company reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.09. The company had revenue of $45.11 million during the quarter, compared to analysts’ expectations of $44.80 million. European Wax Center had a net margin of 3.31% and a return on equity of 9.60%. As a group, equities research analysts anticipate that European Wax Center, Inc. will post 0.22 EPS for the current year.

The business also recently disclosed a dividend, which was paid on Friday, May 6th. Shareholders of record on Friday, April 22nd were given a $3.30 dividend. The ex-dividend date was Thursday, April 21st. This represents a yield of 11.14%.

Several large investors have recently bought and sold shares of the company. General Atlantic L.P. bought a new stake in shares of European Wax Center in the 3rd quarter valued at about $537,237,000. Wellington Management Group LLP raised its holdings in shares of European Wax Center by 14.8% in the 1st quarter. Wellington Management Group LLP now owns 1,933,944 shares of the company’s stock valued at $57,167,000 after purchasing an additional 249,649 shares in the last quarter. American Century Companies Inc. raised its holdings in shares of European Wax Center by 126.4% in the 4th quarter. American Century Companies Inc. now owns 1,102,022 shares of the company’s stock valued at $33,446,000 after purchasing an additional 615,333 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of European Wax Center by 43.8% in the 1st quarter. Bank of New York Mellon Corp now owns 1,082,307 shares of the company’s stock valued at $31,992,000 after purchasing an additional 329,614 shares in the last quarter. Finally, Bamco Inc. NY bought a new stake in shares of European Wax Center in the 3rd quarter valued at about $29,288,000. Institutional investors and hedge funds own 69.41% of the company’s stock.

A number of equities analysts recently commented on EWCZ shares. Robert W. Baird dropped their price target on shares of European Wax Center from $38.00 to $35.00 in a research note on Friday, April 29th. Zacks Investment Research raised shares of European Wax Center from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $31.13.

About European Wax Center (Get Rating)

European Wax Center, Inc operates as a holding company for EWC Ventures, LLC that franchises and operates out-of-home waxing services in the United States. The company sells facial and body waxing products to franchisees. It offers Brazilian, body, brow, facial hair, and fast waxing services, as well as services related to men; and laser hair removal, sugaring, and threading services, as well as in-home solutions, such as shaving, chemical-based creams, epilators, at-home laser hair removal, and at-home waxing.

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