Mister Car Wash, Inc. (NYSE:MCW) Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lessened its stake in Mister Car Wash, Inc. (NYSE:MCW) by 0.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 825,432 shares of the company’s stock after selling 6,968 shares during the period. Charles Schwab Investment Management Inc. owned about 0.26% of Mister Car Wash worth $5,374,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in MCW. nVerses Capital LLC purchased a new stake in Mister Car Wash during the second quarter worth about $31,000. Blue Trust Inc. raised its stake in shares of Mister Car Wash by 884.7% during the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock worth $60,000 after purchasing an additional 7,617 shares during the last quarter. Ariadne Wealth Management LP purchased a new position in Mister Car Wash in the second quarter worth $73,000. Pallas Capital Advisors LLC purchased a new position in Mister Car Wash in the second quarter worth $84,000. Finally, CIBC Asset Management Inc acquired a new stake in Mister Car Wash in the second quarter valued at $91,000.

Insiders Place Their Bets

In other news, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $7.97, for a total transaction of $116,362.00. Following the completion of the transaction, the insider now directly owns 81,206 shares in the company, valued at approximately $647,211.82. This represents a 15.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $7.54, for a total value of $1,088,165.26. Following the completion of the sale, the chief financial officer now owns 44,854 shares of the company’s stock, valued at $338,199.16. The trade was a 76.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 613,896 shares of company stock worth $4,957,139 over the last three months. Insiders own 70.00% of the company’s stock.

Mister Car Wash Stock Down 2.1 %

Shares of MCW opened at $7.62 on Friday. The firm has a market capitalization of $2.46 billion, a price-to-earnings ratio of 33.13, a PEG ratio of 2.00 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. The business’s fifty day moving average price is $7.38 and its two-hundred day moving average price is $7.01. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $9.45.

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

Wall Street Analyst Weigh In

Separately, UBS Group raised 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. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mister Car Wash currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

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.