Mister Car Wash, Inc. (NYSE:MCW) Shares Bought by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 1.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 699,713 shares of the company’s stock after buying an additional 12,174 shares during the period. Bank of New York Mellon Corp owned 0.22% of Mister Car Wash worth $5,101,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in MCW. Blue Trust Inc. raised its stake in Mister Car Wash by 59.4% during the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock valued at $98,000 after acquiring an additional 5,032 shares during the last quarter. iSAM Funds UK Ltd increased its holdings in shares of Mister Car Wash by 102.2% in the third quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock valued at $163,000 after purchasing an additional 12,689 shares during the period. Quadrature Capital Ltd purchased a new stake in shares of Mister Car Wash during the third quarter worth approximately $198,000. Olympiad Research LP acquired a new stake in shares of Mister Car Wash during the fourth quarter worth $264,000. Finally, Paloma Partners Management Co grew its position in Mister Car Wash by 217.3% in the 3rd quarter. Paloma Partners Management Co now owns 36,748 shares of the company’s stock valued at $239,000 after buying an additional 25,168 shares during the last quarter.

Insiders Place Their Bets

In other news, CFO Jedidiah Marc Gold sold 42,278 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $8.50, for a total value of $359,363.00. Following the transaction, the chief financial officer now directly owns 44,854 shares in the company, valued at $381,259. This trade represents a 48.52 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John Lo-Minn Lai sold 22,039 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the sale, the chief executive officer now directly owns 4,479,420 shares of the company’s stock, valued at approximately $37,806,304.80. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 270,872 shares of company stock valued at $2,251,823. Corporate insiders own 70.00% of the company’s stock.

Wall Street Analyst Weigh In

MCW has been the subject of a number of analyst reports. Raymond James started coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They set an “outperform” rating and a $10.00 price objective for the company. Stephens started coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price objective for the company. Wells Fargo & Company lowered their price objective on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a report on Monday, January 6th. UBS Group increased their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Finally, Morgan Stanley lifted their price target on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $8.75.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $8.12 on Tuesday. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The firm’s 50-day simple moving average is $7.66 and its 200 day simple moving average is $7.30. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $8.56. The firm has a market capitalization of $2.63 billion, a PE ratio of 36.91, a P/E/G ratio of 1.65 and a beta of 1.60.

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.