Mister Car Wash (NYSE:MCW) Shares Gap Down Following Insider Selling

Mister Car Wash, Inc. (NYSE:MCW) shares gapped down prior to trading on Friday after an insider sold shares in the company. The stock had previously closed at $8.27, but opened at $8.07. Mister Car Wash shares last traded at $8.14, with a volume of 28,594 shares changing hands.

Specifically, insider Joseph Duane Matheny sold 74,304 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total value of $598,147.20. Following the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This represents a 47.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Analyst Upgrades and Downgrades

A number of research firms have commented on MCW. Wells Fargo & Company reduced their target price on Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. Stephens initiated coverage on Mister Car Wash in a research report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price for the company. Morgan Stanley lowered their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 21st. Finally, UBS Group lifted their price target on shares of 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, three have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $8.81.

Mister Car Wash Price Performance

The company has a market cap of $2.58 billion, a P/E ratio of 34.87, a PEG ratio of 1.76 and a beta of 1.61. The firm’s 50-day moving average is $7.48 and its two-hundred day moving average is $7.10. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24.

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. The firm had revenue of $249.33 million during the quarter, compared to analysts’ expectations of $249.15 million. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The company’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.06 EPS. Analysts anticipate that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

Institutional Trading of Mister Car Wash

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in MCW. Blue Trust Inc. grew its position in Mister Car Wash by 884.7% in the 3rd quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after acquiring an additional 7,617 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Mister Car Wash in the second quarter worth about $112,000. iSAM Funds UK Ltd increased its stake in Mister Car Wash by 102.2% in the 3rd quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock worth $163,000 after buying an additional 12,689 shares during the period. Quadrature Capital Ltd purchased a new position in Mister Car Wash in the 3rd quarter worth about $198,000. Finally, MQS Management LLC bought a new stake in Mister Car Wash during the 3rd quarter valued at about $212,000.

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.