Mister Car Wash (NYSE:MCW) Stock Price Down 4.1% on Insider Selling

Mister Car Wash, Inc. (NYSE:MCW) dropped 4.1% during trading on Friday following insider selling activity. The stock traded as low as $6.84 and last traded at $6.84. 578,835 shares changed hands during mid-day trading, a decline of 63% from the average daily volume of 1,570,214 shares. The stock had previously closed at $7.13.

Specifically, CEO John Lo-Minn Lai sold 33,904 shares of the company’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $6.93, for a total transaction of $234,954.72. Following the transaction, the chief executive officer now owns 5,050,517 shares in the company, valued at approximately $35,000,082.81. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Joseph Duane Matheny sold 16,416 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $8.01, for a total value of $131,492.16. Following the completion of the transaction, the insider now directly owns 78,325 shares in the company, valued at $627,383.25. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Lo-Minn Lai sold 33,904 shares of Mister Car Wash stock in a transaction dated Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $234,954.72. Following the sale, the chief executive officer now directly owns 5,050,517 shares of the company’s stock, valued at approximately $35,000,082.81. The disclosure for this sale can be found here. Insiders sold 61,444 shares of company stock worth $443,472 in the last three months. Corporate insiders own 70.00% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on MCW. Mizuho began coverage on shares of Mister Car Wash in a research note on Tuesday, March 19th. They set a “buy” rating and a $11.00 price objective for the company. JPMorgan Chase & Co. raised shares of Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 price target on the stock in a report on Friday, May 3rd. Finally, Wells Fargo & Company decreased their price objective on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating for the company in a report on Monday, April 22nd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mister Car Wash currently has a consensus rating of “Moderate Buy” and an average target price of $9.56.

Mister Car Wash Stock Performance

The business’s 50-day simple moving average is $7.11 and its two-hundred day simple moving average is $7.73. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 0.98. The firm has a market cap of $2.27 billion, a price-to-earnings ratio of 30.96, a P/E/G ratio of 2.19 and a beta of 1.67.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $0.06 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.01). The business had revenue of $239.18 million during the quarter, compared to analysts’ expectations of $244.06 million. Mister Car Wash had a net margin of 8.04% and a return on equity of 9.38%. As a group, sell-side analysts expect that Mister Car Wash, Inc. will post 0.27 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. ORG Partners LLC purchased a new stake in Mister Car Wash in the 4th quarter worth $43,000. Price T Rowe Associates Inc. MD lifted its position in shares of Mister Car Wash by 16.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company’s stock valued at $135,000 after acquiring an additional 2,479 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Mister Car Wash by 9.9% in the first quarter. Bessemer Group Inc. now owns 20,179 shares of the company’s stock worth $156,000 after acquiring an additional 1,824 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Mister Car Wash by 33.4% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 22,405 shares of the company’s stock worth $194,000 after purchasing an additional 5,610 shares in the last quarter. Finally, Dark Forest Capital Management LP purchased a new stake in shares of Mister Car Wash during the third quarter worth approximately $210,000.

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.