Kazazian Asset Management LLC Buys New Shares in European Wax Center, Inc. (NASDAQ:EWCZ)

Kazazian Asset Management LLC acquired a new stake in European Wax Center, Inc. (NASDAQ:EWCZ) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm acquired 267,114 shares of the company’s stock, valued at approximately $1,782,000. European Wax Center accounts for about 1.4% of Kazazian Asset Management LLC’s portfolio, making the stock its 19th largest position. Kazazian Asset Management LLC owned about 0.47% of European Wax Center at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of European Wax Center by 4.9% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,334,532 shares of the company’s stock worth $22,675,000 after buying an additional 155,875 shares during the last quarter. FMR LLC lifted its stake in shares of European Wax Center by 18.9% during the 3rd quarter. FMR LLC now owns 2,697,742 shares of the company’s stock worth $18,345,000 after buying an additional 428,280 shares during the last quarter. Southpoint Capital Advisors LP lifted its stake in shares of European Wax Center by 5.3% during the 3rd quarter. Southpoint Capital Advisors LP now owns 2,000,000 shares of the company’s stock worth $13,600,000 after buying an additional 100,000 shares during the last quarter. Geode Capital Management LLC lifted its stake 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 worth $5,582,000 after buying an additional 30,804 shares during the last quarter. Finally, Highland Peak Capital LLC acquired a new stake in European Wax Center in the 4th quarter worth about $2,745,000. Institutional investors own 82.14% of the company’s stock.

European Wax Center Price Performance

EWCZ stock opened at $4.21 on Wednesday. The company has a quick ratio of 2.42, a current ratio of 3.17 and a debt-to-equity ratio of 3.81. European Wax Center, Inc. has a 12 month low of $2.72 and a 12 month high of $13.31. The firm has a market cap of $239.73 million, a P/E ratio of 18.30, a P/E/G ratio of 1.72 and a beta of 0.95. The company’s 50-day moving average price is $6.30 and its two-hundred day moving average price is $6.52.

Analyst Ratings Changes

Several analysts have weighed in on EWCZ shares. Jefferies Financial Group set a $15.00 price objective on shares of European Wax Center in a research note on Tuesday, March 11th. Telsey Advisory Group reiterated a “market perform” rating and issued a $6.00 price objective on shares of European Wax Center in a research note on Tuesday, March 11th. Morgan Stanley dropped their price objective on shares of European Wax Center from $5.00 to $4.00 and set an “underweight” rating for the company in a research note on Wednesday, March 12th. Robert W. Baird dropped their price objective on shares of European Wax Center from $7.00 to $5.00 and set a “neutral” rating for the company in a research note on Wednesday, March 12th. Finally, Piper Sandler cut shares of European Wax Center from an “overweight” rating to a “neutral” rating and dropped their price objective for the stock from $9.00 to $7.00 in a research note on Monday, January 6th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, European Wax Center has an average rating of “Hold” and a consensus price target of $7.31.

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.