Southpoint Capital Advisors LP Purchases 100,000 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Southpoint Capital Advisors LP raised its position in European Wax Center, Inc. (NASDAQ:EWCZ) by 5.3% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 2,000,000 shares of the company’s stock after acquiring an additional 100,000 shares during the period. Southpoint Capital Advisors LP’s holdings in European Wax Center were worth $13,600,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of EWCZ. Dark Forest Capital Management LP bought a new position in shares of European Wax Center in the 2nd quarter worth $127,000. Algert Global LLC acquired a new position in European Wax Center during the second quarter worth $135,000. SG Americas Securities LLC bought a new position in shares of European Wax Center in the third quarter valued at $93,000. Royce & Associates LP acquired a new position in shares of European Wax Center during the third quarter valued at about $108,000. Finally, Aigen Investment Management LP bought a new stake in shares of European Wax Center during the third quarter worth about $114,000. Institutional investors own 82.14% of the company’s stock.

European Wax Center Stock Up 1.3 %

Shares of NASDAQ:EWCZ opened at $6.01 on Friday. The company has a market capitalization of $342.21 million, a PE ratio of 26.13, a price-to-earnings-growth ratio of 2.27 and a beta of 1.11. European Wax Center, Inc. has a 1 year low of $4.80 and a 1 year high of $16.07. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42. The business has a fifty day moving average price of $6.89 and a two-hundred day moving average price of $8.30.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Bank of America dropped their price target on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley restated an “underweight” rating and issued a $5.00 target price on shares of European Wax Center in a report on Friday, November 15th. Robert W. Baird decreased their price target on European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a report on Thursday, August 15th. Citigroup cut European Wax Center from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. Finally, Truist Financial reduced their target price on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target 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.