Insider Selling: Mister Car Wash, Inc. (NYSE:MCW) Insider Sells 74,304 Shares of Stock

Mister Car Wash, Inc. (NYSE:MCW) insider Joseph Duane Matheny sold 74,304 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20. Following the transaction, the insider now owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. The trade was a 47.78 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

Joseph Duane Matheny also recently made the following trade(s):

• On Friday, November 1st, Joseph Duane Matheny sold 14,600 shares of Mister Car Wash stock. The stock was sold at an average price of $7.97, for a total value of $116,362.00.
• On Tuesday, November 5th, Joseph Duane Matheny sold 23,697 shares of Mister Car Wash stock. The stock was sold at an average price of $7.97, for a total value of $188,865.09.

Mister Car Wash Stock Up 3.6 %

Mister Car Wash stock opened at $8.27 on Friday. The stock has a 50 day moving average of $7.48 and a two-hundred day moving average of $7.10. Mister Car Wash, Inc. has a twelve month low of $5.84 and a twelve month high of $9.45. The stock has a market capitalization of $2.67 billion, a price-to-earnings ratio of 28.50, a PEG ratio of 1.76 and a beta of 1.61. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96.

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

Institutional Trading of Mister Car Wash

Several hedge funds and other institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its position in Mister Car Wash by 6,003.1% in the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after purchasing an additional 3,571,675 shares during the period. Brown Brothers Harriman & Co. lifted its holdings in shares of Mister Car Wash by 41.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after buying an additional 731,366 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Mister Car Wash by 64.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock valued at $9,752,000 after buying an additional 535,873 shares in the last quarter. Verition Fund Management LLC grew its holdings in Mister Car Wash by 200.9% during the third quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock worth $3,349,000 after acquiring an additional 343,512 shares during the period. Finally, Dynamic Technology Lab Private Ltd raised its position in Mister Car Wash by 595.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 156,046 shares of the company’s stock worth $1,016,000 after acquiring an additional 133,605 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on MCW. Wells Fargo & Company cut their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. Morgan Stanley decreased their price objective on shares of Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Stephens began coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 target price on the stock. Finally, UBS Group upped their target price on Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $8.81.

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.