TimesSquare Capital Management LLC Sells 330,985 Shares of European Wax Center, Inc. (NASDAQ:EWCZ)

TimesSquare Capital Management LLC lowered its position in European Wax Center, Inc. (NASDAQ:EWCZ) by 21.8% during the 4th quarter, Holdings Channel reports. The fund owned 1,186,965 shares of the company’s stock after selling 330,985 shares during the period. TimesSquare Capital Management LLC’s holdings in European Wax Center were worth $16,131,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of EWCZ. Bamco Inc. NY raised its stake in shares of European Wax Center by 18.5% in the third quarter. Bamco Inc. NY now owns 4,126,159 shares of the company’s stock worth $66,844,000 after purchasing an additional 642,726 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in European Wax Center by 2.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,203,893 shares of the company’s stock worth $35,703,000 after acquiring an additional 52,893 shares during the last quarter. Wellington Management Group LLP grew its stake in shares of European Wax Center by 19.5% in the 3rd quarter. Wellington Management Group LLP now owns 2,202,055 shares of the company’s stock worth $35,673,000 after acquiring an additional 360,006 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of European Wax Center by 8.9% in the third quarter. Vanguard Group Inc. now owns 1,795,283 shares of the company’s stock valued at $29,084,000 after purchasing an additional 146,238 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in shares of European Wax Center by 13.3% during the fourth quarter. Federated Hermes Inc. now owns 1,360,000 shares of the company’s stock valued at $18,482,000 after purchasing an additional 160,000 shares in the last quarter. Institutional investors own 82.14% of the company’s stock.

European Wax Center Stock Performance

Shares of EWCZ traded down $0.11 during mid-day trading on Friday, hitting $11.50. The stock had a trading volume of 5,134 shares, compared to its average volume of 500,480. European Wax Center, Inc. has a 52 week low of $10.82 and a 52 week high of $20.00. The business has a fifty day moving average price of $12.41 and a 200-day moving average price of $13.75. The firm has a market cap of $698.86 million, a P/E ratio of 68.29, a PEG ratio of 1.94 and a beta of 1.26. The company has a debt-to-equity ratio of 3.19, a current ratio of 2.52 and a quick ratio of 1.98.

European Wax Center (NASDAQ:EWCZ) last posted its quarterly earnings results on Wednesday, March 6th. The company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.01. The company had revenue of $56.33 million for the quarter, compared to analyst estimates of $53.98 million. European Wax Center had a net margin of 4.04% and a return on equity of 6.69%. On average, equities research analysts expect that European Wax Center, Inc. will post 0.3 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Telsey Advisory Group reaffirmed an “outperform” rating and issued a $18.00 target price on shares of European Wax Center in a report on Wednesday, March 6th. Piper Sandler increased their price target on shares of European Wax Center from $18.00 to $20.00 and gave the company an “overweight” rating in a research report on Thursday, January 11th.

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.