Geode Capital Management LLC Acquires 38,365 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Geode Capital Management LLC raised its holdings in shares of Mister Car Wash, Inc. (NYSE:MCW) by 1.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,115,526 shares of the company’s stock after purchasing an additional 38,365 shares during the period. Geode Capital Management LLC owned 0.66% of Mister Car Wash worth $13,775,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brown Brothers Harriman & Co. raised its position 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 valued at $16,349,000 after purchasing an additional 731,366 shares during the last quarter. The Manufacturers Life Insurance Company raised its position 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 purchasing an additional 3,571,675 shares during the last quarter. AQR Capital Management LLC raised its position in Mister Car Wash by 763.2% during the 2nd quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after purchasing an additional 3,640,862 shares during the last quarter. Bank of New York Mellon Corp raised its position in Mister Car Wash by 23.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock valued at $5,428,000 after purchasing an additional 145,374 shares during the last quarter. Finally, Verition Fund Management LLC raised its position in Mister Car Wash by 200.9% during the 3rd quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock valued at $3,349,000 after purchasing an additional 343,512 shares during the last quarter.

Mister Car Wash Stock Down 1.9 %

Shares of NYSE:MCW opened at $7.19 on Tuesday. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $9.45. The firm has a market capitalization of $2.32 billion, a P/E ratio of 31.26, a P/E/G ratio of 1.95 and a beta of 1.61. The stock has a 50 day moving average price of $7.56 and a 200-day moving average price of $7.05. 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 announced its earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. The firm had revenue of $249.33 million during the quarter, compared to analyst estimates of $249.15 million. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.06 EPS. As a group, equities research analysts anticipate that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling

In other Mister Car Wash news, insider Joseph Duane Matheny sold 23,697 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $7.97, for a total transaction of $188,865.09. Following the sale, 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 66,122 shares of the stock in a transaction on Monday, November 11th. The shares were sold at an average price of $8.51, for a total value of $562,698.22. Following the sale, the chief financial officer now owns 44,854 shares in the company, valued at approximately $381,707.54. This represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 613,896 shares of company stock worth $4,957,139 in the last 90 days. Insiders own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

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

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.