Neuberger Berman Group LLC has announced its increased holdings in European Wax Center, Inc. The company now owns over 663,000 shares of the popular waxing service provider, representing a 7.8% increase from its previous ownership. The disclosure was made in the group’s most recent filing with the Securities & Exchange Commission (SEC) and highlights the institutional investor’s strong confidence in European Wax Center’s growth potential.
The added 47,923 shares purchased by Neuberger Berman Group LLC during the period under review demonstrate that this investor believes in the value proposition provided by EWCZ shares. The institutional investor’s growing stake also affirms their faith in the company and its ability to deliver returns on investment.
For those interested in more details on other hedge fund investors who are similarly bullish about EWCZ stocks, HoldingsChannel.com provides timely updates and insights via interactive charts and reports on 13F filings as well as insider trades analysis.
Traders on NASDAQ:EWCZ observed a steady opening at $17.15 per share, ahead of news of Neuberger Berman Group LLC’s bolstered stake in EWCZ stock. With a market capitalization of $1.08 billion, a PE ratio of 155.92, a PEG ratio of 21.85 and a beta of 1.56 – there is no question that EWCZ is among an elite group of successful companies that have strengthened their positioning throughout challenging times.
Additionally, with impressive figures including a quick ratio of 2.14; current ratio of 2.94 and debt-to-equity ratio of 2.83; EWCZ is shown to have strong working capital management capabilities among its peers.
Overcoming challenges associated with Covid-19 has not been easy for any company operating within this industry lately; despite obstacles presented by the pandemic though – European Wax Center has demonstrated remarkable resilience coupled with the intelligent application of technology. All these things leave EWCZ ideally positioned to perform well in the current market and beyond.
While analyst coverage has yet to extend into June 2023, it would seem that European Wax Center, Inc. is poised for future success thanks to increasing institutional investor interest that points toward a promising growth trajectory for the innovative waxing service provider.
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Investors show confidence in European Wax Center following impressive earnings results
The world of investment has seen significant changes in recent times, with several hedge fund and institutional investors making changes to their positions in European Wax Center (EWCZ). This move follows the company’s impressive quarterly earnings results announced on March 9th, where it exceeded analysts’ consensus estimates by a staggering $1.13 EPS.
Hedge funds like Geode Capital Management LLC, JPMorgan Chase & Co., Bank of America Corp DE, Waratah Capital Advisors Ltd., and Victory Capital Management Inc. have increased their holdings in the company significantly. Geode Capital now owns over 500 thousand shares of EWCZ, while Bank of American Corp DE holds almost 41 thousand shares.
As investors pile into the stock hoping to ride its momentum following an excellent quarter, research analysts have expressed mixed opinions about EWCZ’s future prospects. Three firms have rated it a hold rating, while two others are more bullish with buy ratings.
According to Bloomberg.com data, European Wax Center currently boasts an average price target of $21 per share and receives an overall “Hold” rating from analysts. However, given the current trend of rising institutional investment in the company and positive sentiment from some financial experts, the future looks bright for EWCZ.
European Wax Center operates as a franchisor and provider of body and facial waxing services across the United States while also offering pre- and post-service products such as exfoliating gels and skin treatments. The company has rapidly expanded since its launch in 2004 but remains headquartered in Plano, Texas – where it is poised for further growth under influential investors’ guidance.
If you’re interested in tracking developments surrounding this exciting investment opportunity further, visit HoldingsChannel.com to get real-time updates on insider trades and filings relating to European Wax Center stock. With profitable earnings suggesting continued success ahead for EWCZ’s approach to out-of-home waxing services delivery and product sales – now may be the time to consider it for your investment portfolio.