Mister Car Wash, Inc. (NYSE:MCW) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lessened its stake in Mister Car Wash, Inc. (NYSE:MCW) by 4.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 441,931 shares of the company’s stock after selling 18,228 shares during the period. Principal Financial Group Inc. owned 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 recently added to or reduced their stakes in MCW. Blue Trust Inc. lifted its stake in shares of Mister Car Wash by 884.7% in the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock worth $60,000 after acquiring an additional 7,617 shares during the period. Handelsbanken Fonder AB raised its holdings in Mister Car Wash by 26.8% during the third quarter. Handelsbanken Fonder AB now owns 43,100 shares of the company’s stock worth $281,000 after purchasing an additional 9,100 shares in the last quarter. SG Americas Securities LLC acquired a new stake in Mister Car Wash in the third quarter valued at about $331,000. Sanctuary Advisors LLC purchased a new stake in Mister Car Wash in the 2nd quarter valued at approximately $112,000. Finally, Ariadne Wealth Management LP acquired a new position in Mister Car Wash during the 2nd quarter worth approximately $73,000.

Mister Car Wash Trading Up 1.5 %

Shares of MCW stock opened at $8.00 on Friday. The stock has a market cap of $2.58 billion, a P/E ratio of 34.78, a P/E/G ratio of 1.98 and a beta of 1.60. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $9.45. The business has a fifty day simple moving average of $7.01 and a 200-day simple moving average of $6.96.

Mister Car Wash (NYSE:MCW) last posted its earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share for the quarter, beating 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 firm had revenue of $249.33 million during the quarter, compared to the consensus estimate of $249.15 million. During the same period last year, the firm posted $0.06 EPS. The firm’s revenue for the quarter was up 6.5% on a year-over-year basis. On average, analysts forecast that Mister Car Wash, Inc. will post 0.29 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCW. UBS Group increased their target price on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their target price on Mister Car Wash from $5.00 to $6.00 and gave the company a “sell” rating in a report on Thursday, August 1st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Mister Car Wash currently has a consensus rating of “Moderate Buy” and an average target price of $9.25.

Insider Buying and Selling

In related news, CFO Jedidiah Marc Gold sold 144,319 shares of Mister Car Wash stock in a transaction dated Thursday, October 31st. The stock was sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the completion of the sale, the chief financial officer now owns 44,854 shares in the company, valued at approximately $338,199.16. This trade represents a 76.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $7.97, for a total transaction of $116,362.00. Following the completion of the transaction, the insider now owns 81,206 shares in the company, valued at approximately $647,211.82. This trade represents a 15.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 613,896 shares of company stock worth $4,957,139 in the last ninety days. Insiders own 70.00% of the company’s stock.

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.