Aigen Investment Management LP Makes New Investment in European Wax Center, Inc. (NASDAQ:EWCZ)

Aigen Investment Management LP acquired a new position in shares of European Wax Center, Inc. (NASDAQ:EWCZ) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,700 shares of the company’s stock, valued at approximately $114,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new stake in shares of European Wax Center in the third quarter valued at about $93,000. Dark Forest Capital Management LP bought a new stake in shares of European Wax Center in the second quarter valued at about $127,000. Algert Global LLC bought a new stake in shares of European Wax Center in the second quarter valued at about $135,000. Creative Planning boosted its position 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 acquiring an additional 9,044 shares during the period. Finally, Olympiad Research LP bought a new stake in shares of European Wax Center in the third quarter valued at about $157,000. 82.14% of the stock is owned by institutional investors.

European Wax Center Stock Down 4.4 %

Shares of NASDAQ EWCZ opened at $5.89 on Monday. The company has a current ratio of 3.49, a quick ratio of 2.72 and a debt-to-equity ratio of 3.18. The company has a market cap of $353.28 million, a price-to-earnings ratio of 25.61, a PEG ratio of 2.00 and a beta of 1.11. European Wax Center, Inc. has a 12 month low of $4.80 and a 12 month high of $16.07. The stock has a 50-day moving average price of $7.09 and a two-hundred day moving average price of $8.60.

Analysts Set New Price Targets

EWCZ has been the subject of a number of analyst reports. Robert W. Baird dropped their price target on European Wax Center from $13.00 to $7.00 and set a “neutral” rating for the company in a research note on Thursday, August 15th. Morgan Stanley reaffirmed an “underweight” rating and issued a $5.00 price target on shares of European Wax Center in a research note on Friday. Truist Financial dropped their price target on 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. Bank of America dropped their price target on European Wax Center from $16.00 to $8.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Citigroup downgraded European Wax Center from a “buy” rating to a “neutral” rating and dropped their price target for the company from $16.00 to $5.50 in a research note on Thursday, August 15th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $7.64.

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.