Mister Car Wash, Inc. (NYSE:MCW) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. cut its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 50,435 shares of the company’s stock after selling 3,302 shares during the quarter. Corebridge Financial Inc.’s holdings in Mister Car Wash were worth $368,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. JPMorgan Chase & Co. raised its holdings 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 acquiring an additional 41,390 shares during the last quarter. Barclays PLC increased its stake in Mister Car Wash by 281.2% in the third quarter. Barclays PLC now owns 179,013 shares of the company’s stock valued at $1,165,000 after purchasing an additional 132,051 shares during the last quarter. Los Angeles Capital Management LLC purchased a new position in Mister Car Wash during the fourth quarter worth about $698,000. AlphaQuest LLC boosted its stake in Mister Car Wash by 218,505.6% in the 4th quarter. AlphaQuest LLC now owns 155,210 shares of the company’s stock worth $1,131,000 after buying an additional 155,139 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Mister Car Wash by 305.7% during the third quarter. Jane Street Group LLC now owns 99,099 shares of the company’s stock worth $645,000 after purchasing an additional 74,673 shares during the period.

Mister Car Wash Stock Performance

NYSE:MCW opened at $7.49 on Thursday. The firm has a 50-day moving average of $7.83 and a two-hundred day moving average of $7.48. 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 stock has a market cap of $2.43 billion, a P/E ratio of 34.05, a PEG ratio of 1.65 and a beta of 1.57. Mister Car Wash, Inc. has a 1-year low of $5.84 and a 1-year high of $8.60.

Wall Street Analysts Forecast Growth

MCW has been the subject of several research reports. Raymond James initiated coverage on shares of Mister Car Wash in a research note on Thursday, March 13th. They set an “outperform” rating and a $10.00 price objective for the company. Morgan Stanley upped their price target on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. UBS Group lifted their price objective 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. Stephens assumed coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price target on the stock. Finally, Wells Fargo & Company dropped their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. 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. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $8.43.

Insider Transactions at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the sale, the chief executive officer now 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. Over the last 90 days, insiders have sold 360,313 shares of company stock valued at $2,995,270. Insiders own 70.00% of the company’s stock.

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.