Principal Financial Group Inc. Decreases Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Principal Financial Group Inc. cut its stake in Mister Car Wash, Inc. (NYSE:MCW) by 4.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 441,931 shares of the company’s stock after selling 18,228 shares during the quarter. Principal Financial Group Inc.’s holdings in Mister Car Wash were worth $2,877,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of MCW. AQR Capital Management LLC boosted its stake in shares of Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after purchasing an additional 3,640,862 shares during the period. Brown Brothers Harriman & Co. grew its stake in shares of Mister Car Wash by 23.4% during the second quarter. Brown Brothers Harriman & Co. now owns 1,779,964 shares of the company’s stock valued at $12,673,000 after acquiring an additional 337,272 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Mister Car Wash by 64.3% during the second quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock valued at $9,752,000 after acquiring an additional 535,873 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Mister Car Wash by 23.6% during the second quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock worth $5,428,000 after acquiring an additional 145,374 shares during the last quarter. Finally, Simplicity Wealth LLC lifted its stake in shares of Mister Car Wash by 22.4% in the second quarter. Simplicity Wealth LLC now owns 382,357 shares of the company’s stock worth $2,722,000 after acquiring an additional 69,972 shares in the last quarter.

Wall Street Analyst Weigh In

MCW has been the subject of a number of recent analyst reports. UBS Group raised their price objective on Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Mister Car Wash from $5.00 to $6.00 and gave the stock a “sell” rating in a research 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 given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Insiders Place Their Bets

In other Mister Car Wash news, insider Joseph Duane Matheny sold 23,697 shares of the firm’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $7.97, for a total value of $188,865.09. Following the sale, the insider now directly owns 81,206 shares in the company, valued at approximately $647,211.82. This trade represents a 22.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at approximately $338,199.16. This trade represents a 76.29 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 613,896 shares of company stock valued at $4,957,139. Company insiders own 70.00% of the company’s stock.

Mister Car Wash Stock Up 1.5 %

Shares of Mister Car Wash stock opened at $8.00 on Friday. 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 business has a 50-day moving average price of $7.01 and a 200 day moving average price of $6.96. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $9.45. The firm 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.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.02. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The business had revenue of $249.33 million for the quarter, compared to analyst estimates of $249.15 million. During the same period in the prior year, the company posted $0.06 EPS. The business’s revenue was up 6.5% compared to the same quarter last year. On average, sell-side analysts forecast that Mister Car Wash, Inc. will post 0.29 earnings per share for the current fiscal year.

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.