Principal Financial Group Inc. Has $2.88 Million Stock Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Principal Financial Group Inc. lowered its stake in Mister Car Wash, Inc. (NYSE:MCW) by 4.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 441,931 shares of the company’s stock after selling 18,228 shares during the quarter. Principal Financial Group Inc. owned approximately 0.14% of Mister Car Wash worth $2,877,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. nVerses Capital LLC acquired a new position in shares of Mister Car Wash during the 2nd quarter worth approximately $31,000. Blue Trust Inc. grew its stake in shares of Mister Car Wash by 884.7% in the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after buying an additional 7,617 shares in the last quarter. Ariadne Wealth Management LP acquired a new position in Mister Car Wash during the second quarter worth $73,000. CIBC Asset Management Inc bought a new stake in Mister Car Wash during the second quarter worth $91,000. Finally, Sanctuary Advisors LLC acquired a new stake in Mister Car Wash in the second quarter valued at $112,000.

Analysts Set New Price Targets

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

Mister Car Wash Stock Performance

Shares of MCW stock opened at $7.10 on Friday. The company has a market capitalization of $2.29 billion, a price-to-earnings ratio of 30.87, a PEG ratio of 1.95 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, Inc. has a 52 week low of $5.84 and a 52 week high of $9.45. The company has a 50-day simple moving average of $7.65 and a 200 day simple moving average of $7.05.

Mister Car Wash (NYSE:MCW) last posted its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate 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 revenue for the quarter was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.06 earnings per share. On average, sell-side analysts predict that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

Insider Transactions at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 23,697 shares of the company’s 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 completion of the sale, the insider now directly owns 81,206 shares in the company, valued at approximately $647,211.82. This represents a 22.59 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Jedidiah Marc Gold sold 66,122 shares of the stock in a transaction on Monday, November 11th. The stock was sold at an average price of $8.51, for a total value of $562,698.22. Following the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at approximately $381,707.54. This trade represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 613,896 shares of company stock valued at $4,957,139. 70.00% of the stock is currently owned by corporate insiders.

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.