John Lo-Minn Lai Sells 22,039 Shares of Mister Car Wash, Inc. (NYSE:MCW) Stock

Mister Car Wash, Inc. (NYSE:MCW) CEO John Lo-Minn Lai sold 22,039 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total value of $186,009.16. Following the transaction, the chief executive officer now owns 4,479,420 shares of the company’s stock, valued at approximately $37,806,304.80. This trade represents a 0.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $7.96 on Thursday. The business has a 50 day simple moving average of $7.56 and a 200 day simple moving average of $7.22. 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 capitalization of $2.58 billion, a PE ratio of 36.18, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. Mister Car Wash, Inc. has a one year low of $5.84 and a one year high of $8.56.

Analyst Upgrades and Downgrades

MCW has been the subject of several research analyst reports. Morgan Stanley upped their target price on shares of 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. Stephens began coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective for the company. UBS Group lifted their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Wells Fargo & Company cut their price target on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $8.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. FIL Ltd grew its holdings in shares of Mister Car Wash by 2.4% in the 4th quarter. FIL Ltd now owns 9,915,100 shares of the company’s stock worth $72,281,000 after purchasing an additional 230,100 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Mister Car Wash by 25.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock valued at $33,127,000 after buying an additional 912,944 shares in the last quarter. The Manufacturers Life Insurance Company grew its stake in Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after buying an additional 3,571,675 shares during the last quarter. State Street Corp increased its holdings in shares of Mister Car Wash by 1.9% during the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after buying an additional 63,631 shares in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Mister Car Wash by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock valued at $22,895,000 after acquiring an additional 958,479 shares during the last quarter.

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.