Wedmont Private Capital Takes $181,000 Position in Mister Car Wash, Inc. (NYSE:MCW)

Wedmont Private Capital bought a new position in shares of Mister Car Wash, Inc. (NYSE:MCW) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 25,561 shares of the company’s stock, valued at approximately $181,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC purchased a new position in shares of Mister Car Wash during the 4th quarter valued at about $43,000. Price T Rowe Associates Inc. MD raised its position in Mister Car Wash by 16.7% during the first 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. Bessemer Group Inc. lifted its holdings in Mister Car Wash by 9.9% in the first quarter. Bessemer Group Inc. now owns 20,179 shares of the company’s stock valued at $156,000 after acquiring an additional 1,824 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Mister Car Wash by 33.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,405 shares of the company’s stock worth $194,000 after purchasing an additional 5,610 shares in the last quarter. Finally, Handelsbanken Fonder AB acquired a new stake in shares of Mister Car Wash during the 4th quarter worth approximately $210,000.

Insider Buying and Selling

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 33,904 shares of the stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $234,954.72. Following the completion of the transaction, the chief executive officer now owns 5,050,517 shares of the company’s stock, valued at $35,000,082.81. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO John Lo-Minn Lai sold 33,904 shares of Mister Car Wash stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $234,954.72. Following the sale, the chief executive officer now directly owns 5,050,517 shares of the company’s stock, valued at $35,000,082.81. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 4,079 shares of the stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $6.93, for a total value of $28,267.47. Following the completion of the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at $310,838.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,928 shares of company stock worth $319,179. Insiders own 70.00% of the company’s stock.

Mister Car Wash Stock Up 3.7 %

MCW opened at $6.77 on Wednesday. The company has a market cap of $2.16 billion, a PE ratio of 29.43, a price-to-earnings-growth ratio of 2.28 and a beta of 1.67. Mister Car Wash, Inc. has a twelve month low of $4.80 and a twelve month high of $9.45. The company has a 50-day moving average price of $7.05 and a 200 day moving average price of $7.40. The company has a quick ratio of 0.26, a current ratio of 0.28 and a debt-to-equity ratio of 0.98.

Wall Street Analyst Weigh In

MCW has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 target price for the company in a research note on Friday, May 3rd. Wells Fargo & Company dropped their target price on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating on the stock in a research report on Monday, April 22nd. Finally, The Goldman Sachs Group upped their price target on Mister Car Wash from $5.00 to $6.00 and gave the stock a “sell” rating in a report on Thursday, August 1st. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mister Car Wash has a consensus rating of “Moderate Buy” and an average target price of $9.69.

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.