State Street Corp Buys 63,631 Shares of Mister Car Wash, Inc. (NYSE:MCW)

State Street Corp increased its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 1.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,375,939 shares of the company’s stock after acquiring an additional 63,631 shares during the quarter. State Street Corp owned about 1.05% of Mister Car Wash worth $21,977,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of MCW. AQR Capital Management LLC increased its holdings in shares of Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock worth $29,155,000 after acquiring an additional 3,640,862 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake 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 worth $23,639,000 after purchasing an additional 3,571,675 shares in the last quarter. Brown Brothers Harriman & Co. increased its stake in Mister Car Wash by 41.1% during the 3rd 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 in the last quarter. Dimensional Fund Advisors LP raised its holdings in Mister Car Wash by 64.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock worth $9,752,000 after buying an additional 535,873 shares during the period. Finally, Verition Fund Management LLC lifted its stake in Mister Car Wash by 200.9% in the third quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock valued at $3,349,000 after buying an additional 343,512 shares in the last quarter.

Mister Car Wash Stock Performance

Shares of MCW stock opened at $7.07 on Monday. Mister Car Wash, Inc. has a 12 month low of $5.84 and a 12 month high of $9.45. The company’s fifty day simple moving average is $7.48 and its 200-day simple moving average is $7.03. The firm has a market cap of $2.28 billion, a PE ratio of 30.74, a P/E/G ratio of 1.95 and a beta of 1.61. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96.

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

Insider Activity

In related news, CFO Jedidiah Marc Gold sold 362,658 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $8.22, for a total value of $2,981,048.76. Following the completion of the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at approximately $368,699.88. This trade represents a 88.99 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Joseph Duane Matheny sold 23,697 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $7.97, for a total value of $188,865.09. Following the transaction, the insider now directly owns 81,206 shares in the company, valued at approximately $647,211.82. This trade represents a 22.59 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 613,896 shares of company stock valued at $4,957,139. 70.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Separately, UBS Group increased their price objective on shares of Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

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.