Brown Brothers Harriman & Co. Buys 731,366 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Brown Brothers Harriman & Co. boosted its position in Mister Car Wash, Inc. (NYSE:MCW) by 41.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,511,330 shares of the company’s stock after acquiring an additional 731,366 shares during the quarter. Brown Brothers Harriman & Co. owned 0.78% of Mister Car Wash worth $16,349,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Mister Car Wash by 763.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after purchasing an additional 3,640,862 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Mister Car Wash by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock worth $5,428,000 after acquiring an additional 145,374 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Mister Car Wash by 214.9% in the third quarter. GSA Capital Partners LLP now owns 102,307 shares of the company’s stock worth $666,000 after buying an additional 69,817 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Mister Car Wash by 64.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock valued at $9,752,000 after acquiring an additional 535,873 shares during the last quarter. Finally, CWM LLC boosted its holdings in Mister Car Wash by 94.6% during the 2nd quarter. CWM LLC now owns 90,686 shares of the company’s stock valued at $646,000 after acquiring an additional 44,085 shares during the period.

Insider Activity

In related news, insider Joseph Duane Matheny sold 14,600 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $7.97, for a total value of $116,362.00. Following the completion of the transaction, the insider now directly owns 81,206 shares in the company, valued at $647,211.82. This trade represents a 15.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jedidiah Marc Gold sold 66,122 shares of Mister Car Wash stock in a transaction dated Monday, November 11th. The shares were sold at an average price of $8.51, for a total transaction of $562,698.22. Following the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at approximately $381,707.54. This trade represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 613,896 shares of company stock worth $4,957,139 in the last quarter. 70.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on MCW. UBS Group lifted their price target on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their target price on shares of Mister Car Wash from $5.00 to $6.00 and gave the stock a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Mister Car Wash has an average rating of “Moderate Buy” and a consensus price target of $9.25.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock opened at $8.00 on Monday. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $9.45. The company has a market cap of $2.58 billion, a PE ratio of 34.78, a P/E/G ratio of 2.05 and a beta of 1.60. The business has a 50 day moving average of $7.01 and a 200 day moving average of $6.95.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. The company had revenue of $249.33 million during the quarter, compared to the consensus estimate 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 revenue was up 6.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.06 earnings per share. As a group, equities research analysts forecast that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

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.