Joseph Duane Matheny Sells 74,304 Shares of Mister Car Wash, Inc. (NYSE:MCW) Stock

Mister Car Wash, Inc. (NYSE:MCW) insider Joseph Duane Matheny sold 74,304 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total value of $598,147.20. Following the transaction, the insider now owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Joseph Duane Matheny also recently made the following trade(s):

• On Friday, November 1st, Joseph Duane Matheny sold 14,600 shares of Mister Car Wash stock. The stock was sold at an average price of $7.97, for a total value of $116,362.00.
• On Tuesday, November 5th, Joseph Duane Matheny sold 23,697 shares of Mister Car Wash stock. The stock was sold at an average price of $7.97, for a total value of $188,865.09.

Mister Car Wash Stock Down 3.0 %

NYSE MCW opened at $8.02 on Friday. The stock has a 50 day moving average price of $7.48 and a 200-day moving average price of $7.10. Mister Car Wash, Inc. has a one year low of $5.84 and a one year high of $9.45. The company has a market capitalization of $2.58 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.76 and a beta of 1.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.02. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The company had revenue of $249.33 million for the quarter, compared to analyst estimates of $249.15 million. During the same quarter in the prior year, the firm posted $0.06 EPS. Mister Car Wash’s quarterly revenue was up 6.5% compared to the same quarter last year. As a group, equities analysts predict that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

Institutional Trading of Mister Car Wash

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. The Manufacturers Life Insurance Company raised its holdings in Mister Car Wash by 6,003.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after buying an additional 3,571,675 shares during the period. State Street Corp raised its holdings in Mister Car Wash by 1.9% during the 3rd 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 period. Brown Brothers Harriman & Co. increased its stake in Mister Car Wash by 41.1% in the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after purchasing an additional 731,366 shares during the period. Geode Capital Management LLC increased its stake in Mister Car Wash by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock worth $13,775,000 after purchasing an additional 38,365 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in Mister Car Wash by 64.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock worth $9,752,000 after purchasing an additional 535,873 shares during the period.

Analyst Ratings Changes

MCW has been the subject of several recent analyst reports. UBS Group upped their price target on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Stephens initiated coverage on Mister Car Wash in a research note on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price target for the company. Morgan Stanley dropped their price target on Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 21st. Finally, Wells Fargo & Company lowered their target price on 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 analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Mister Car Wash has a consensus rating of “Hold” and an average price target of $8.81.

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.