Mister Car Wash (NYSE:MCW) Shares Gap Down After Insider Selling

Mister Car Wash, Inc. (NYSE:MCW)’s share price gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $8.27, but opened at $8.07. Mister Car Wash shares last traded at $8.14, with a volume of 28,594 shares.

Specifically, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total transaction of $598,147.20. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley cut their target price on Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. UBS Group lifted their price objective on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company decreased their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Finally, Stephens initiated coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price target on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Mister Car Wash currently has an average rating of “Hold” and an average price target of $8.81.

Mister Car Wash Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The firm has a market cap of $2.58 billion, a P/E ratio of 34.87, a P/E/G ratio of 1.76 and a beta of 1.61. The business has a fifty day simple moving average of $7.48 and a 200-day simple moving average of $7.10.

Mister Car Wash (NYSE:MCW) last issued its quarterly 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. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The company had revenue of $249.33 million during the quarter, compared to analyst estimates of $249.15 million. During the same period last year, the business earned $0.06 EPS. Mister Car Wash’s quarterly revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts predict that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

Hedge Funds Weigh In On Mister Car Wash

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blue Trust Inc. increased its position in Mister Car Wash by 884.7% during the 3rd 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. Sanctuary Advisors LLC purchased a new stake in shares of Mister Car Wash in the second quarter worth $112,000. iSAM Funds UK Ltd increased its holdings in shares of Mister Car Wash by 102.2% during the third quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock valued at $163,000 after acquiring an additional 12,689 shares in the last quarter. Quadrature Capital Ltd purchased a new position in shares of Mister Car Wash in the 3rd quarter worth about $198,000. Finally, MQS Management LLC bought a new position in Mister Car Wash in the 3rd quarter worth about $212,000.

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.