Nital P. Scott Sells 4,344 Shares of European Wax Center, Inc. (NASDAQ:EWCZ) Stock

European Wax Center, Inc. (NASDAQ:EWCZ) Director Nital P. Scott sold 4,344 shares of the business’s 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 transaction, the director now directly owns 29,262 shares in the company, valued at approximately $171,182.70. The trade was a 12.93 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

European Wax Center Stock Down 5.8 %

Shares of EWCZ stock traded down $0.32 during trading on Thursday, reaching $5.24. The company’s stock had a trading volume of 914,848 shares, compared to its average volume of 719,743. European Wax Center, Inc. has a 1-year low of $4.80 and a 1-year high of $16.07. The stock’s 50-day moving average price is $6.65 and its 200 day moving average price is $7.80. The company has a market capitalization of $298.38 million, a price-to-earnings ratio of 22.78, a P/E/G ratio of 2.35 and a beta of 1.01. The company has a debt-to-equity ratio of 3.81, a current ratio of 3.17 and a quick ratio of 2.42.

Wall Street Analyst Weigh In

EWCZ has been the subject of several analyst reports. Morgan Stanley reissued an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday, November 15th. Telsey Advisory Group cut European Wax Center from an “outperform” rating to a “market perform” rating and lowered their price target for the stock from $8.00 to $6.00 in a report on Thursday. Finally, Bank of America reduced their price objective on shares of European Wax Center from $16.00 to $8.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, European Wax Center currently has an average rating of “Hold” and an average price target of $7.36.

Institutional Trading of European Wax Center

A number of large investors have recently modified their holdings of the stock. Quantbot Technologies LP increased its holdings in European Wax Center by 52.3% during the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock worth $153,000 after purchasing an additional 7,709 shares during the period. Creative Planning lifted its stake in European Wax Center by 72.6% in the third quarter. Creative Planning now owns 21,501 shares of the company’s stock worth $146,000 after acquiring an additional 9,044 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in European Wax Center by 15.5% in the second quarter. Canada Pension Plan Investment Board now owns 84,200 shares of the company’s stock worth $836,000 after acquiring an additional 11,300 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of European Wax Center by 25.7% in the 2nd quarter. Victory Capital Management Inc. now owns 57,000 shares of the company’s stock valued at $566,000 after purchasing an additional 11,650 shares during the last quarter. Finally, Dark Forest Capital Management LP acquired a new stake in shares of European Wax Center in the 2nd quarter valued at $127,000. Hedge funds and other institutional investors own 82.14% of the company’s stock.

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.