Mister Car Wash (NYSE:MCW) Stock Price Down 4.1% on Insider Selling

Mister Car Wash, Inc. (NYSE:MCW) shares were down 4.1% on Friday following insider selling activity. The company traded as low as $6.84 and last traded at $6.84. Approximately 578,835 shares changed hands during trading, a decline of 63% from the average daily volume of 1,570,214 shares. The stock had previously closed at $7.13.

Specifically, insider Joseph Duane Matheny sold 16,416 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $8.01, for a total value of $131,492.16. Following the completion of the sale, the insider now directly owns 78,325 shares in the company, valued at approximately $627,383.25. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Joseph Duane Matheny sold 16,416 shares of the stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $8.01, for a total value of $131,492.16. Following the transaction, the insider now directly owns 78,325 shares in the company, valued at approximately $627,383.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John Lo-Minn Lai sold 33,904 shares of the business’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $6.93, for a total transaction of $234,954.72. Following the sale, the chief executive officer now owns 5,050,517 shares of the company’s stock, valued at approximately $35,000,082.81. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 61,444 shares of company stock worth $443,472. 70.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on MCW shares. Wells Fargo & Company decreased their price objective on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. Mizuho started coverage on Mister Car Wash in a research report on Tuesday, March 19th. They issued a “buy” rating and a $11.00 price target for the company. Finally, JPMorgan Chase & Co. upgraded Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 price objective on the stock in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $9.56.

Mister Car Wash Price Performance

The stock has a market cap of $2.27 billion, a P/E ratio of 30.96, a P/E/G ratio of 2.19 and a beta of 1.67. The business has a 50 day simple moving average of $7.11 and a 200-day simple moving average of $7.73. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.26 and a current ratio of 0.30.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The company had revenue of $239.18 million for the quarter, compared to the consensus estimate of $244.06 million. Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. On average, sell-side analysts forecast that Mister Car Wash, Inc. will post 0.27 EPS for the current year.

Institutional Investors Weigh In On Mister Car Wash

Several large investors have recently modified their holdings of MCW. Wasatch Advisors LP increased its position in Mister Car Wash by 1.7% in the first quarter. Wasatch Advisors LP now owns 16,423,825 shares of the company’s stock worth $127,285,000 after buying an additional 267,825 shares during the last quarter. Brown Advisory Inc. raised its stake in Mister Car Wash by 14.4% in the 4th quarter. Brown Advisory Inc. now owns 13,535,668 shares of the company’s stock valued at $116,948,000 after acquiring an additional 1,706,435 shares during the period. Vanguard Group Inc. lifted its holdings in Mister Car Wash by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 10,082,581 shares of the company’s stock valued at $87,114,000 after purchasing an additional 315,679 shares during the last quarter. Woodson Capital Management LP boosted its position in Mister Car Wash by 80.5% during the fourth quarter. Woodson Capital Management LP now owns 2,700,000 shares of the company’s stock worth $23,328,000 after purchasing an additional 1,203,863 shares during the period. Finally, Brown Brothers Harriman & Co. increased its stake in shares of Mister Car Wash by 34.6% in the fourth quarter. Brown Brothers Harriman & Co. now owns 1,067,787 shares of the company’s stock worth $9,226,000 after purchasing an additional 274,766 shares in the last quarter.

Mister Car Wash Company 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.