Mister Car Wash (NYSE:MCW) Shares Down 4.1% Following Insider Selling

Shares of Mister Car Wash, Inc. (NYSE:MCW) traded down 4.1% on Friday after an insider sold shares in the company. The company traded as low as $6.84 and last traded at $6.84. 578,835 shares were traded during trading, a decline of 63% from the average session volume of 1,570,214 shares. The stock had previously closed at $7.13.

Specifically, CFO Jedidiah Marc Gold sold 4,079 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $28,267.47. Following the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at approximately $310,838.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 4,079 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $28,267.47. Following the sale, the chief financial officer now owns 44,854 shares in the company, valued at $310,838.22. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Joseph Duane Matheny sold 16,416 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $8.01, for a total value of $131,492.16. Following the sale, the insider now owns 78,325 shares in the company, valued at $627,383.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 61,444 shares of company stock worth $443,472. 70.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Mizuho started coverage on shares of Mister Car Wash in a research note on Tuesday, March 19th. They issued a “buy” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. upgraded shares of Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 price target on the stock in a research report on Friday, May 3rd. Finally, Wells Fargo & Company lowered their price objective on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating for the company in a research report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $9.56.

Mister Car Wash Stock Performance

The business has a 50 day moving average of $7.11 and a 200 day moving average of $7.73. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $2.19 billion, a P/E ratio of 30.48, a price-to-earnings-growth ratio of 2.19 and a beta of 1.67.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.01). Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. The firm had revenue of $239.18 million for the quarter, compared to the consensus estimate of $244.06 million. On average, sell-side analysts predict that Mister Car Wash, Inc. will post 0.27 earnings per share for the current year.

Institutional Investors Weigh In On Mister Car Wash

Several hedge funds have recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in Mister Car Wash in the fourth quarter worth about $43,000. Price T Rowe Associates Inc. MD boosted its position in Mister Car Wash by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company’s stock worth $135,000 after purchasing an additional 2,479 shares in the last quarter. Bessemer Group Inc. grew its position in Mister Car Wash by 9.9% during the first quarter. Bessemer Group Inc. now owns 20,179 shares of the company’s stock valued at $156,000 after buying an additional 1,824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of Mister Car Wash by 33.4% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,405 shares of the company’s stock valued at $194,000 after acquiring an additional 5,610 shares during the period. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Mister Car Wash in the fourth quarter valued at approximately $210,000.

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.