Maryland State Retirement & Pension System Cuts Stock Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Maryland State Retirement & Pension System trimmed its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 11.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,306 shares of the company’s stock after selling 4,203 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Mister Car Wash were worth $230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently bought and sold shares of MCW. Pallas Capital Advisors LLC purchased a new position in shares of Mister Car Wash in the 2nd quarter worth about $84,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of Mister Car Wash by 16.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company’s stock worth $135,000 after buying an additional 2,479 shares during the last quarter. Bessemer Group Inc. boosted its holdings in shares of Mister Car Wash by 9.9% in the 1st quarter. Bessemer Group Inc. now owns 20,179 shares of the company’s stock worth $156,000 after buying an additional 1,824 shares during the last quarter. Wedmont Private Capital purchased a new position in shares of Mister Car Wash in the 2nd quarter worth about $181,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Mister Car Wash by 19.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,673 shares of the company’s stock worth $190,000 after buying an additional 4,268 shares during the last quarter.

Insider Activity at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 4,079 shares of the business’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $28,267.47. Following the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at approximately $310,838.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CFO Jedidiah Marc Gold sold 4,079 shares of the company’s stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $28,267.47. Following the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at $310,838.22. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO John Lo-Minn Lai sold 33,904 shares of the company’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $6.93, for a total value of $234,954.72. Following the sale, the chief executive officer now owns 5,050,517 shares in the company, valued at $35,000,082.81. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,698 shares of company stock worth $296,860. Company insiders own 70.00% of the company’s stock.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price target on shares of Mister Car Wash from $5.00 to $6.00 and gave the stock a “sell” rating in a report on Thursday, August 1st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Mister Car Wash currently has an average rating of “Moderate Buy” and a consensus target price of $9.36.

Mister Car Wash Trading Down 1.4 %

Shares of Mister Car Wash stock opened at $6.20 on Thursday. Mister Car Wash, Inc. has a 52-week low of $4.80 and a 52-week high of $9.45. The stock’s 50-day simple moving average is $6.89 and its 200 day simple moving average is $7.16. The stock has a market capitalization of $1.98 billion, a P/E ratio of 26.96, a P/E/G ratio of 1.99 and a beta of 1.67. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.25 and a current ratio of 0.28.

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.