Paloma Partners Management Co Acquires 25,168 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Paloma Partners Management Co increased its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 217.3% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 36,748 shares of the company’s stock after purchasing an additional 25,168 shares during the quarter. Paloma Partners Management Co’s holdings in Mister Car Wash were worth $239,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of MCW. nVerses Capital LLC purchased a new position in shares of Mister Car Wash in the 2nd quarter valued at $31,000. Blue Trust Inc. grew its stake in Mister Car Wash by 884.7% in the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after purchasing an additional 7,617 shares during the last quarter. Ariadne Wealth Management LP bought a new position in Mister Car Wash in the second quarter worth about $73,000. Pallas Capital Advisors LLC purchased a new stake in shares of Mister Car Wash during the second quarter valued at about $84,000. Finally, CIBC Asset Management Inc bought a new stake in shares of Mister Car Wash in the 2nd quarter valued at about $91,000.

Insider Activity

In related news, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $7.97, for a total value of $116,362.00. Following the sale, the insider now owns 81,206 shares in the company, valued at $647,211.82. This represents a 15.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Jedidiah Marc Gold sold 362,658 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $8.22, for a total transaction of $2,981,048.76. Following the completion of the transaction, the chief financial officer now owns 44,854 shares in the company, valued at approximately $368,699.88. This trade represents a 88.99 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 613,896 shares of company stock valued at $4,957,139 over the last ninety days. 70.00% of the stock is currently owned by insiders.

Mister Car Wash Price Performance

Shares of NYSE MCW opened at $7.80 on Friday. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $9.45. The company has a market cap of $2.51 billion, a PE ratio of 33.91, a P/E/G ratio of 2.00 and a beta of 1.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27. The business has a 50-day simple moving average of $7.25 and a two-hundred day simple moving average of $6.98.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The company had revenue of $249.33 million during the quarter, compared to analysts’ expectations of $249.15 million. During the same period last year, the business earned $0.06 EPS. Mister Car Wash’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts expect that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, UBS Group boosted their price objective on shares of Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $9.25.

Mister Car Wash Company Profile

Mister Car Wash, Inc, together with its subsidiaries, provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company serves individual retail and corporate customers. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.