Geode Capital Management LLC Raises Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Geode Capital Management LLC lifted its position in Mister Car Wash, Inc. (NYSE:MCW) by 1.8% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,115,526 shares of the company’s stock after purchasing an additional 38,365 shares during the period. Geode Capital Management LLC’s holdings in Mister Car Wash were worth $13,775,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of MCW. Bank of New York Mellon Corp boosted its stake in shares of Mister Car Wash by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock worth $5,428,000 after buying an additional 145,374 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake 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. nVerses Capital LLC purchased a new position in shares of Mister Car Wash in the 2nd quarter worth $31,000. CIBC Asset Management Inc purchased a new position in shares of Mister Car Wash in the 2nd quarter worth $91,000. Finally, Versor Investments LP boosted its stake in shares of Mister Car Wash by 95.1% in the 2nd quarter. Versor Investments LP now owns 59,700 shares of the company’s stock worth $425,000 after buying an additional 29,100 shares during the last quarter.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock opened at $7.19 on Tuesday. Mister Car Wash, Inc. has a one year low of $5.84 and a one year high of $9.45. The stock’s fifty day moving average is $7.56 and its 200 day moving average is $7.05. The stock has a market cap of $2.32 billion, a P/E ratio of 31.26, a P/E/G ratio of 1.95 and a beta of 1.61. The company has a debt-to-equity ratio of 0.96, a quick ratio of 0.24 and a current ratio of 0.27.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $249.33 million for the quarter, compared to analysts’ expectations of $249.15 million. During the same period last year, the firm earned $0.06 EPS. Mister Car Wash’s revenue for the quarter was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, UBS Group raised their price target 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. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $9.25.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 66,122 shares of the firm’s stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $8.51, for a total transaction of $562,698.22. Following the sale, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at $381,707.54. This trade represents a 59.58 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Duane Matheny sold 23,697 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were 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 represents a 22.59 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 613,896 shares of company stock valued at $4,957,139 over the last ninety days. 70.00% of the stock is currently owned by company insiders.

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.