Insider Selling: Mister Car Wash, Inc. (NYSE:MCW) CEO Sells 22,039 Shares of Stock

Mister Car Wash, Inc. (NYSE:MCW) CEO John Lo-Minn Lai sold 22,039 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the sale, the chief executive officer now owns 4,479,420 shares of the company’s stock, valued at approximately $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

Mister Car Wash Trading Down 3.1 %

NYSE:MCW opened at $8.21 on Wednesday. The business’s 50-day moving average is $7.54 and its two-hundred day moving average is $7.21. The firm has a market capitalization of $2.66 billion, a PE ratio of 37.32, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. Mister Car Wash, Inc. has a 12 month low of $5.84 and a 12 month high of $8.56. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Wall Street Analysts Forecast Growth

MCW has been the topic of a number of research analyst reports. Morgan Stanley lifted their price target on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Stephens assumed coverage on Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price on the stock. Wells Fargo & Company dropped their price target on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, UBS Group raised their price objective on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Mister Car Wash has an average rating of “Hold” and an average price target of $8.57.

Institutional Investors Weigh In On Mister Car Wash

Several hedge funds have recently modified their holdings of MCW. FIL Ltd grew its position in Mister Car Wash by 2.4% in the fourth quarter. FIL Ltd now owns 9,915,100 shares of the company’s stock valued at $72,281,000 after acquiring an additional 230,100 shares in the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Mister Car Wash by 25.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock valued at $33,127,000 after purchasing an additional 912,944 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Mister Car Wash by 6,003.1% during the 3rd 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 in the last quarter. State Street Corp increased its stake in Mister Car Wash by 1.9% during the 3rd quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after buying an additional 63,631 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in Mister Car Wash by 43.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock worth $22,895,000 after buying an additional 958,479 shares in the last quarter.

About Mister Car Wash

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.