Mister Car Wash, Inc. (NYSE:MCW) Shares Sold by Comerica Bank

Comerica Bank trimmed its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 56,216 shares of the company’s stock after selling 1,896 shares during the period. Comerica Bank’s holdings in Mister Car Wash were worth $410,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company lifted its stake in shares of Mister Car Wash by 25.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock valued at $33,127,000 after purchasing an additional 912,944 shares in the last quarter. Tudor Investment Corp ET AL acquired a new position in shares of Mister Car Wash in the 4th quarter valued at about $221,000. Quarry LP acquired a new position in shares of Mister Car Wash in the 4th quarter valued at about $79,000. Boothbay Fund Management LLC acquired a new position in shares of Mister Car Wash in the 4th quarter valued at about $533,000. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of Mister Car Wash by 25.6% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 38,126 shares of the company’s stock valued at $278,000 after purchasing an additional 7,779 shares in the last quarter.

Insiders Place Their Bets

In other news, insider Joseph Duane Matheny sold 30,742 shares of the business’s stock in a transaction that occurred on Thursday, February 20th. The stock was sold at an average price of $8.07, for a total value of $248,087.94. Following the completion of the sale, the insider now directly owns 81,206 shares in the company, valued at approximately $655,332.42. The trade was a 27.46% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jedidiah Marc Gold sold 93,121 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.51, for a total value of $792,459.71. Following the completion of the sale, the chief financial officer now owns 55,437 shares of the company’s stock, valued at $471,768.87. This trade represents a 62.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 288,599 shares of company stock worth $2,417,509 in the last three months. 69.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on MCW shares. Morgan Stanley lifted their price objective on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. UBS Group reduced their price target on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Stephens reduced their price target on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Raymond James initiated coverage on Mister Car Wash in a research report on Thursday, March 13th. They set an “outperform” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, Mister Car Wash currently has an average rating of “Hold” and a consensus price target of $8.46.

Mister Car Wash Price Performance

MCW stock opened at $7.69 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $8.60. The stock’s 50 day moving average is $7.55 and its two-hundred day moving average is $7.62. The company has a market capitalization of $2.50 billion, a PE ratio of 34.96, a P/E/G ratio of 1.65 and a beta of 1.58.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same quarter in the prior year, the firm posted $0.08 EPS. The firm’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts predict that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal year.

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.