Kornitzer Capital Management Inc. KS Raises Stock Position in European Wax Center, Inc. (NASDAQ:EWCZ)
Kornitzer Capital Management Inc. KS boosted its holdings in European Wax Center, Inc. (NASDAQ:EWCZ – Get Rating) by 48.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 567,048 shares of the company’s stock after buying an additional 183,983 shares during the period. Kornitzer Capital Management Inc. KS owned 0.89% of European Wax Center worth $7,060,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Jacobs Levy Equity Management Inc. purchased a new stake in European Wax Center in the 3rd quarter worth $4,455,000. Legal & General Group Plc grew its position in shares of European Wax Center by 59.3% during the second quarter. Legal & General Group Plc now owns 8,506 shares of the company’s stock valued at $150,000 after purchasing an additional 3,168 shares in the last quarter. Point72 Hong Kong Ltd purchased a new position in shares of European Wax Center during the first quarter valued at about $108,000. Tower Research Capital LLC TRC grew its position in shares of European Wax Center by 43.6% during the third quarter. Tower Research Capital LLC TRC now owns 2,926 shares of the company’s stock valued at $54,000 after purchasing an additional 889 shares in the last quarter. Finally, Royal Bank of Canada grew its position in shares of European Wax Center by 78.3% during the third quarter. Royal Bank of Canada now owns 2,888 shares of the company’s stock valued at $53,000 after purchasing an additional 1,268 shares in the last quarter. Hedge funds and other institutional investors own 64.78% of the company’s stock.
European Wax Center Trading Up 1.2 %
EWCZ opened at $19.37 on Friday. The company has a current ratio of 2.63, a quick ratio of 1.93 and a debt-to-equity ratio of 2.85. The firm has a market cap of $1.22 billion, a P/E ratio of 107.62, a P/E/G ratio of 12.70 and a beta of 1.58. European Wax Center, Inc. has a 12 month low of $12.02 and a 12 month high of $31.25. The stock has a 50-day moving average of $18.17 and a 200 day moving average of $16.19.
Wall Street Analysts Forecast Growth
A number of research analysts have recently weighed in on EWCZ shares. Telsey Advisory Group restated an “outperform” rating and set a $22.00 price objective on shares of European Wax Center in a research report on Friday, March 24th. Piper Sandler lifted their price target on European Wax Center from $14.00 to $16.00 and gave the stock a “neutral” rating in a research report on Thursday, January 12th. Robert W. Baird lowered European Wax Center from an “outperform” rating to a “neutral” rating and set a $21.00 price target for the company. in a research report on Wednesday, April 5th. Finally, Morgan Stanley lifted their price target on European Wax Center from $16.00 to $17.00 and gave the stock an “equal weight” rating in a research report on Monday, March 13th. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, European Wax Center presently has a consensus rating of “Hold” and a consensus price target of $21.00.
European Wax Center Profile
European Wax Center, Inc operates as the franchisor and operator of out-of-home waxing services in the United States. The company offers body and facial waxing services; and pre- and post-service products, including ingrown hair serums, exfoliating gels, brow shapers, and skin treatments. As of March 26, 2022, it had a portfolio of centers operating in 874 locations across 44 states, including 868 franchised centers and six corporate-owned centers.
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