Mister Car Wash (NYSE:MCW) Shares Gap Down Following Insider Selling

Mister Car Wash, Inc. (NYSE:MCW)’s share price gapped down before the market opened on Friday after an insider sold shares in the company. The stock had previously closed at $8.27, but opened at $8.07. Mister Car Wash shares last traded at $8.14, with a volume of 28,594 shares changing hands.

Specifically, insider Joseph Duane Matheny sold 74,304 shares of the firm’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total transaction of $598,147.20. Following the completion of the transaction, the insider now owns 81,206 shares in the company, valued at $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Analysts Set New Price Targets

Several equities analysts recently commented on MCW shares. Stephens started 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 for the company. UBS Group boosted their target price on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company dropped their target price on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. Finally, Morgan Stanley reduced their price target on shares of Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $8.81.

Mister Car Wash Trading Down 1.0 %

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 company’s 50-day moving average is $7.48 and its 200-day moving average is $7.10. The firm has a market cap of $2.64 billion, a price-to-earnings ratio of 35.59, a P/E/G ratio of 1.76 and a beta of 1.61.

Mister Car Wash (NYSE:MCW) last issued its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 quarter in the previous year, the company posted $0.06 EPS. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. On average, research analysts predict that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Mister Car Wash

A number of institutional investors and hedge funds have recently modified their holdings of MCW. Blue Trust Inc. lifted its holdings in Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after acquiring an additional 5,032 shares in the last quarter. Arkadios Wealth Advisors lifted its stake in Mister Car Wash by 13.3% in the fourth quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock valued at $355,000 after buying an additional 5,702 shares in the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Mister Car Wash by 26.8% in the third quarter. Handelsbanken Fonder AB now owns 43,100 shares of the company’s stock valued at $281,000 after buying an additional 9,100 shares during the period. Victory Capital Management Inc. increased its holdings in Mister Car Wash by 19.5% during the 3rd quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock worth $414,000 after purchasing an additional 10,377 shares in the last quarter. Finally, iSAM Funds UK Ltd raised its stake in shares of Mister Car Wash by 102.2% in the 3rd quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock valued at $163,000 after purchasing an additional 12,689 shares during the period.

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.