Highland Peak Capital LLC Takes $2.75 Million Position in European Wax Center, Inc. (NASDAQ:EWCZ)

Highland Peak Capital LLC bought a new stake in European Wax Center, Inc. (NASDAQ:EWCZ) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 411,512 shares of the company’s stock, valued at approximately $2,745,000. European Wax Center makes up about 1.5% of Highland Peak Capital LLC’s portfolio, making the stock its 16th largest holding. Highland Peak Capital LLC owned about 0.72% of European Wax Center at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning lifted its stake in shares of European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company’s stock valued at $146,000 after purchasing an additional 9,044 shares during the period. Aigen Investment Management LP acquired a new stake in shares of European Wax Center in the third quarter valued at about $114,000. Victory Capital Management Inc. lifted its stake in shares of European Wax Center by 78.3% in the third quarter. Victory Capital Management Inc. now owns 101,653 shares of the company’s stock valued at $691,000 after purchasing an additional 44,653 shares during the period. Royce & Associates LP acquired a new stake in shares of European Wax Center in the third quarter valued at about $108,000. Finally, Landscape Capital Management L.L.C. acquired a new stake in shares of European Wax Center in the third quarter valued at about $1,231,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $9.00 to $7.00 in a research note on Monday, January 6th. Morgan Stanley restated an “underweight” rating and set a $5.00 target price on shares of European Wax Center in a research report on Friday, November 15th. Finally, Telsey Advisory Group restated a “market perform” rating and set a $6.00 target price on shares of European Wax Center in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, European Wax Center has a consensus rating of “Hold” and an average target price of $6.64.

Insider Transactions at European Wax Center

In other news, Director Nital P. Scott sold 4,344 shares of European Wax Center stock in a transaction dated Tuesday, December 17th. The shares were sold at an average price of $5.85, for a total transaction of $25,412.40. Following the completion of the sale, the director now directly owns 29,262 shares in the company, valued at $171,182.70. The trade was a 12.93 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 6.14% of the company’s stock.

European Wax Center Stock Performance

Shares of NASDAQ EWCZ opened at $5.55 on Monday. The company has a market cap of $316.03 million, a PE ratio of 24.13, a price-to-earnings-growth ratio of 1.72 and a beta of 0.95. European Wax Center, Inc. has a 12 month low of $4.80 and a 12 month high of $15.21. 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 company has a 50-day simple moving average of $6.58 and a 200-day simple moving average of $6.63.

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.