CenterBook Partners LP Sells 779,010 Shares of European Wax Center, Inc. $EWCZ

CenterBook Partners LP trimmed its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 95.7% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,161 shares of the company’s stock after selling 779,010 shares during the quarter. CenterBook Partners LP owned 0.06% of European Wax Center worth $140,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Hillsdale Investment Management Inc. purchased a new position in European Wax Center during the 2nd quarter valued at about $5,524,000. MIG Capital LLC boosted its position in shares of European Wax Center by 65.8% in the second quarter. MIG Capital LLC now owns 2,057,186 shares of the company’s stock valued at $11,582,000 after acquiring an additional 816,657 shares during the period. Marshall Wace LLP boosted its position in shares of European Wax Center by 355.3% in the second quarter. Marshall Wace LLP now owns 724,149 shares of the company’s stock valued at $4,077,000 after acquiring an additional 565,099 shares during the period. Federated Hermes Inc. grew its stake in European Wax Center by 75.7% during the second quarter. Federated Hermes Inc. now owns 686,203 shares of the company’s stock valued at $3,863,000 after acquiring an additional 295,634 shares in the last quarter. Finally, Crown Advisors Management Inc. bought a new stake in European Wax Center during the 2nd quarter worth approximately $1,126,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

European Wax Center Price Performance

Shares of NASDAQ:EWCZ opened at $5.72 on Monday. The company has a quick ratio of 3.14, a current ratio of 3.67 and a debt-to-equity ratio of 3.57. The stock has a market cap of $310.94 million, a PE ratio of 22.00, a PEG ratio of 0.53 and a beta of 1.46. The company’s fifty day moving average is $4.19 and its 200 day moving average is $4.04. European Wax Center, Inc. has a 52 week low of $2.72 and a 52 week high of $7.02.

Analyst Upgrades and Downgrades

Several research analysts have commented on the stock. Telsey Advisory Group raised their price target on shares of European Wax Center from $5.00 to $5.80 and gave the company a “market perform” rating in a report on Wednesday, February 11th. Weiss Ratings reiterated a “sell (d+)” rating on shares of European Wax Center in a research report on Thursday, January 29th. Wall Street Zen raised European Wax Center from a “buy” rating to a “strong-buy” rating in a research note on Saturday, November 15th. Robert W. Baird set a $5.80 target price on European Wax Center in a research report on Wednesday, February 11th. Finally, Truist Financial cut European Wax Center from a “buy” rating to a “hold” rating and lowered their price target for the company from $6.00 to $5.80 in a report on Tuesday, February 10th. One analyst has rated the stock with a Strong Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, European Wax Center has an average rating of “Hold” and an average target price of $7.37.

European Wax Center Company Profile

European Wax Center is a national provider of hair removal services and related beauty products. The company operates through a network of company-owned and franchised locations, delivering professional waxing treatments for both women and men. Its core service offerings include facial waxing, bikini and Brazilian waxes, arm and leg treatments, back and chest services, and specialized body waxing. In addition to waxing services, European Wax Center markets a range of proprietary retail products such as pre- and post-wax skincare lotions, exfoliating treatments, and moisturizers designed to enhance client comfort and results.

Founded in 2004, European Wax Center introduced a standardized approach to the waxing experience, focusing on consistent training, customer education, and hygienic protocols.