Charles Schwab Investment Management Inc. Sells 29,033 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

Charles Schwab Investment Management Inc. lowered its stake in shares of European Wax Center, Inc. (NASDAQ:EWCZ) by 10.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 252,682 shares of the company’s stock after selling 29,033 shares during the period. Charles Schwab Investment Management Inc.’s holdings in European Wax Center were worth $1,685,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. SG Americas Securities LLC raised its position in European Wax Center by 12.3% during the fourth quarter. SG Americas Securities LLC now owns 15,416 shares of the company’s stock worth $103,000 after acquiring an additional 1,690 shares in the last quarter. Quantbot Technologies LP grew its position in shares of European Wax Center by 52.3% in the 3rd quarter. Quantbot Technologies LP now owns 22,454 shares of the company’s stock valued at $153,000 after acquiring an additional 7,709 shares during the period. XTX Topco Ltd bought a new stake in shares of European Wax Center in the 3rd quarter valued at about $162,000. Olympiad Research LP raised its holdings in shares of European Wax Center by 116.8% in the 4th quarter. Olympiad Research LP now owns 50,000 shares of the company’s stock valued at $334,000 after purchasing an additional 26,939 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in European Wax Center by 37.9% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 51,204 shares of the company’s stock valued at $348,000 after purchasing an additional 14,086 shares during the last quarter. Institutional investors and hedge funds own 82.14% of the company’s stock.

European Wax Center Trading Down 5.6 %

Shares of European Wax Center stock opened at $3.91 on Friday. The company has a debt-to-equity ratio of 3.81, a quick ratio of 2.42 and a current ratio of 3.17. The firm has a 50-day moving average of $5.94 and a 200-day moving average of $6.37. European Wax Center, Inc. has a 52-week low of $2.72 and a 52-week high of $13.15. The stock has a market cap of $216.40 million, a PE ratio of 17.00, a PEG ratio of 1.72 and a beta of 0.95.

Wall Street Analysts Forecast Growth

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

European Wax Center 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.