Mister Car Wash, Inc. (NYSE:MCW) Shares Purchased by FIL Ltd

FIL Ltd boosted its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,915,100 shares of the company’s stock after acquiring an additional 230,100 shares during the period. FIL Ltd owned about 3.08% of Mister Car Wash worth $72,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCW. State Street Corp lifted its stake in Mister Car Wash by 1.9% in the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock valued at $21,977,000 after buying an additional 63,631 shares during the last quarter. Brown Brothers Harriman & Co. lifted its position in Mister Car Wash by 5.1% in the 4th quarter. Brown Brothers Harriman & Co. now owns 2,639,121 shares of the company’s stock valued at $19,239,000 after purchasing an additional 127,791 shares during the last quarter. Geode Capital Management LLC boosted its stake in Mister Car Wash by 1.8% during the 3rd quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock valued at $13,775,000 after purchasing an additional 38,365 shares during the period. Bank of New York Mellon Corp grew its position in Mister Car Wash by 1.8% in the 4th quarter. Bank of New York Mellon Corp now owns 699,713 shares of the company’s stock worth $5,101,000 after purchasing an additional 12,174 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in shares of Mister Car Wash by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 456,136 shares of the company’s stock valued at $3,325,000 after purchasing an additional 14,205 shares during the period.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCW. Raymond James initiated coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price objective for the company. Morgan Stanley increased their price objective on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. UBS Group boosted their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a report on Thursday, February 20th. Wells Fargo & Company decreased their price target on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research note on Monday, January 6th. Finally, Stephens assumed coverage on Mister Car Wash in a research note on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Mister Car Wash presently has an average rating of “Hold” and an average price target of $8.43.

Insider Buying and Selling

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction on 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 sale, the insider now owns 81,206 shares in the company, valued at approximately $653,708.30. The trade was a 47.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John Lo-Minn Lai sold 22,039 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $8.44, for a total value of $186,009.16. Following the completion of the transaction, the chief executive officer now directly owns 4,479,420 shares in the company, valued at $37,806,304.80. The trade was a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 360,313 shares of company stock worth $2,995,270 in the last quarter. 70.00% of the stock is owned by corporate insiders.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock opened at $7.49 on Thursday. The firm has a fifty day moving average price of $7.83 and a two-hundred day moving average price of $7.48. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $8.60. 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 company has a market cap of $2.43 billion, a PE ratio of 34.05, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57.

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.