Mister Car Wash, Inc. (NYSE:MCW) Stock Position Raised by US Bancorp DE

US Bancorp DE increased its stake in shares of Mister Car Wash, Inc. (NYSE:MCW) by 2,317.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 17,212 shares of the company’s stock after purchasing an additional 16,500 shares during the period. US Bancorp DE’s holdings in Mister Car Wash were worth $125,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Barclays PLC grew its holdings in Mister Car Wash by 281.2% in the 3rd quarter. Barclays PLC now owns 179,013 shares of the company’s stock valued at $1,165,000 after buying an additional 132,051 shares during the last quarter. JPMorgan Chase & Co. raised its position in Mister Car Wash by 54.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company’s stock valued at $763,000 after purchasing an additional 41,390 shares during the last quarter. Brown Brothers Harriman & Co. increased its stake 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. The Manufacturers Life Insurance Company increased its stake in shares of Mister Car Wash by 6,003.1% in 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 buying an additional 3,571,675 shares during the period. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Mister Car Wash during the fourth quarter worth $698,000.

Analyst Ratings Changes

A number of research firms have issued reports on MCW. UBS Group boosted their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley boosted their price target on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Wells Fargo & Company dropped their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. 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 price target on the stock. Finally, Raymond James initiated coverage on Mister Car Wash in a research report on Thursday. They set an “outperform” rating and a $10.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $8.75.

Mister Car Wash Trading Up 1.8 %

Shares of NYSE:MCW opened at $7.93 on Monday. The company has a market capitalization of $2.57 billion, a P/E ratio of 36.05, a P/E/G ratio of 1.65 and a beta of 1.60. Mister Car Wash, Inc. has a 1 year low of $5.84 and a 1 year 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. The business’s 50 day simple moving average is $7.64 and its 200 day simple moving average is $7.29.

Insider Buying and Selling

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 42,278 shares of the company’s stock in a transaction on Friday, February 28th. The stock was sold at an average price of $8.50, for a total transaction of $359,363.00. Following the completion of the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at $381,259. This represents a 48.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Lo-Minn Lai sold 22,039 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total value of $186,009.16. Following the sale, the chief executive officer now owns 4,479,420 shares of the company’s stock, valued at $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,272 shares of company stock valued at $2,247,041 over the last 90 days. 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.