HighTower Advisors LLC Decreases Stock Position in Mister Car Wash, Inc. (NYSE:MCW)

HighTower Advisors LLC trimmed its position in Mister Car Wash, Inc. (NYSE:MCW) by 7.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,031 shares of the company’s stock after selling 1,690 shares during the quarter. HighTower Advisors LLC’s holdings in Mister Car Wash were worth $161,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in MCW. AlphaQuest LLC boosted its holdings in Mister Car Wash by 218,505.6% during the 4th quarter. AlphaQuest LLC now owns 155,210 shares of the company’s stock valued at $1,131,000 after acquiring an additional 155,139 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of Mister Car Wash in the fourth quarter valued at approximately $1,217,000. Victory Capital Management Inc. raised its position in Mister Car Wash by 29.3% during the 4th quarter. Victory Capital Management Inc. now owns 82,186 shares of the company’s stock valued at $599,000 after purchasing an additional 18,610 shares in the last quarter. US Bancorp DE increased its stake in shares of Mister Car Wash by 2,317.4% during the fourth quarter. US Bancorp DE now owns 17,212 shares of the company’s stock valued at $125,000 after buying an additional 16,500 shares during the period. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Mister Car Wash during the fourth quarter valued at $698,000.

Insider Transactions at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 93,121 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.51, for a total transaction of $792,459.71. Following the completion of the transaction, the chief financial officer now directly owns 55,437 shares of the company’s stock, valued at approximately $471,768.87. This trade represents a 62.68 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 81,206 shares in the company, valued at $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 360,313 shares of company stock worth $2,995,270. Company insiders own 70.00% of the company’s stock.

Mister Car Wash Stock Performance

Shares of Mister Car Wash stock opened at $7.29 on Friday. The company has a 50 day moving average price of $7.91 and a 200 day moving average price of $7.46. The firm has a market capitalization of $2.36 billion, a P/E ratio of 33.14, a PEG ratio of 1.65 and a beta of 1.60. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $8.60.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on MCW. Wells Fargo & Company dropped their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Raymond James initiated coverage on Mister Car Wash in a research note on Thursday, March 13th. They set an “outperform” rating and a $10.00 price objective for the company. UBS Group lifted their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley raised their price target on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. Finally, Stephens assumed 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 on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Mister Car Wash currently has an average rating of “Hold” and an average price target of $8.43.

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.