Bank of New York Mellon Corp Acquires 145,374 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Bank of New York Mellon Corp lifted its holdings in shares of Mister Car Wash, Inc. (NYSE:MCW) by 23.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 762,363 shares of the company’s stock after purchasing an additional 145,374 shares during the period. Bank of New York Mellon Corp owned 0.24% of Mister Car Wash worth $5,428,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of MCW. Louisiana State Employees Retirement System increased its stake in shares of Mister Car Wash by 3.3% in the second quarter. Louisiana State Employees Retirement System now owns 46,600 shares of the company’s stock valued at $332,000 after buying an additional 1,500 shares during the period. Texas Permanent School Fund Corp lifted its position in shares of Mister Car Wash by 2.0% in the 1st quarter. Texas Permanent School Fund Corp now owns 79,712 shares of the company’s stock worth $618,000 after purchasing an additional 1,581 shares during the period. Bessemer Group Inc. boosted its stake 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 valued at $156,000 after purchasing an additional 1,824 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Mister Car Wash by 16.7% during the first 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 period. Finally, Illinois Municipal Retirement Fund raised its stake in Mister Car Wash by 13.3% during the first quarter. Illinois Municipal Retirement Fund now owns 57,606 shares of the company’s stock worth $446,000 after buying an additional 6,779 shares during the last quarter.

Insider Transactions at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 4,079 shares of the company’s stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total transaction of $28,267.47. Following the completion of the sale, the chief financial officer now owns 44,854 shares in the company, valued at $310,838.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Jedidiah Marc Gold sold 4,079 shares of the business’s stock in a transaction that occurred on Wednesday, June 26th. The stock was sold at an average price of $6.93, for a total value of $28,267.47. Following the transaction, the chief financial officer now 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 through this link. Also, CEO John Lo-Minn Lai sold 33,904 shares of the stock in a transaction that occurred on 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 directly owns 5,050,517 shares of the company’s stock, valued at $35,000,082.81. The disclosure for this sale can be found here. Insiders sold a total of 42,698 shares of company stock valued at $296,860 over the last ninety days. 70.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group boosted their price objective on Mister Car Wash from $5.00 to $6.00 and gave the company a “sell” rating in a research note on Thursday, August 1st. One research analyst has rated the stock with a sell rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $9.75.

Mister Car Wash Price Performance

Shares of MCW opened at $6.27 on Friday. The stock has a market cap of $2.00 billion, a P/E ratio of 27.26, a P/E/G ratio of 1.85 and a beta of 1.65. The business’s fifty day moving average is $6.79 and its 200 day moving average is $7.06. The company has a quick ratio of 0.25, a current ratio of 0.28 and a debt-to-equity ratio of 0.98. Mister Car Wash, Inc. has a 12-month low of $4.80 and a 12-month high of $9.45.

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.