Mister Car Wash, Inc. (NYSE:MCW) Stake Increased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of Mister Car Wash, Inc. (NYSE:MCW) by 6,003.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,631,172 shares of the company’s stock after buying an additional 3,571,675 shares during the quarter. The Manufacturers Life Insurance Company owned 1.13% of Mister Car Wash worth $23,639,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of MCW. Price T Rowe Associates Inc. MD grew its stake in Mister Car Wash by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company’s stock valued at $135,000 after acquiring an additional 2,479 shares in the last quarter. CWM LLC grew its position in Mister Car Wash by 94.6% during the second quarter. CWM LLC now owns 90,686 shares of the company’s stock valued at $646,000 after purchasing an additional 44,085 shares in the last quarter. Simplicity Wealth LLC increased its stake in Mister Car Wash by 22.4% in the 2nd quarter. Simplicity Wealth LLC now owns 382,357 shares of the company’s stock valued at $2,722,000 after buying an additional 69,972 shares during the period. Wedmont Private Capital purchased a new stake in Mister Car Wash in the 2nd quarter worth approximately $181,000. Finally, Pallas Capital Advisors LLC acquired a new stake in shares of Mister Car Wash during the 2nd quarter valued at $84,000.

Analyst Upgrades and Downgrades

Separately, UBS Group upped their price target 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 issued a buy rating to the stock. According to data from MarketBeat, Mister Car Wash has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Mister Car Wash Stock Performance

MCW stock opened at $8.00 on Friday. The firm has a 50 day moving average of $7.17 and a two-hundred day moving average of $6.97. Mister Car Wash, Inc. has a 12 month low of $5.84 and a 12 month high of $9.45. The company has a market capitalization of $2.58 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.08 and a beta of 1.60. 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 (NYSE:MCW) last issued its quarterly earnings data 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. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The firm had revenue of $249.33 million during the quarter, compared to analysts’ expectations of $249.15 million. During the same period in the prior year, the company posted $0.06 earnings per share. Mister Car Wash’s revenue for the quarter was up 6.5% on a year-over-year basis. As a group, equities analysts anticipate that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

Insider Transactions at Mister Car Wash

In other news, CFO Jedidiah Marc Gold sold 362,658 shares of Mister Car Wash stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $8.22, for a total value of $2,981,048.76. Following the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at $368,699.88. This trade represents a 88.99 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Duane Matheny sold 23,697 shares of the company’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $7.97, for a total transaction of $188,865.09. Following the sale, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. This represents a 22.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 613,896 shares of company stock worth $4,957,139. 70.00% of the stock is owned by corporate insiders.

Mister Car Wash 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.