The Manufacturers Life Insurance Company Acquires 3,571,675 Shares of Mister Car Wash, Inc. (NYSE:MCW)

The Manufacturers Life Insurance Company grew its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 6,003.1% in the 3rd quarter, Holdings Channel reports. The fund owned 3,631,172 shares of the company’s stock after purchasing an additional 3,571,675 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Mister Car Wash were worth $23,639,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Brown Brothers Harriman & Co. boosted its holdings in Mister Car Wash by 41.1% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after purchasing an additional 731,366 shares during the period. AQR Capital Management LLC lifted its stake in shares of Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock valued at $29,155,000 after buying an additional 3,640,862 shares during the period. Bank of New York Mellon Corp grew its position in Mister Car Wash by 23.6% during the second 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 in the last quarter. GSA Capital Partners LLP increased its stake in Mister Car Wash by 214.9% during the third quarter. GSA Capital Partners LLP now owns 102,307 shares of the company’s stock valued at $666,000 after acquiring an additional 69,817 shares during the period. Finally, Dimensional Fund Advisors LP raised its holdings in Mister Car Wash by 64.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock valued at $9,752,000 after acquiring an additional 535,873 shares in the last quarter.

Insider Activity

In other news, insider Joseph Duane Matheny sold 23,697 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $7.97, for a total transaction of $188,865.09. Following the completion of the sale, the insider now owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. This trade represents a 22.59 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Jedidiah Marc Gold sold 144,319 shares of Mister Car Wash stock in a transaction that occurred on Thursday, October 31st. The shares were sold at an average price of $7.54, for a total transaction of $1,088,165.26. Following the completion of the transaction, the chief financial officer now owns 44,854 shares of the company’s stock, valued at $338,199.16. This trade represents a 76.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 613,896 shares of company stock worth $4,957,139. Corporate insiders own 70.00% of the company’s stock.

Analysts Set New Price Targets

Separately, UBS Group lifted their price objective on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Mister Car Wash Stock Down 1.1 %

Shares of MCW opened at $8.00 on Friday. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The company has a 50-day moving average price of $7.17 and a two-hundred day moving average price of $6.97. The stock has a market cap of $2.58 billion, a price-to-earnings ratio of 34.78, a P/E/G ratio of 2.08 and a beta of 1.60. Mister Car Wash, Inc. has a 12 month low of $5.84 and a 12 month high of $9.45.

Mister Car Wash (NYSE:MCW) last posted its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping the consensus estimate 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 business had revenue of $249.33 million during the quarter, compared to the consensus estimate of $249.15 million. During the same quarter last year, the company earned $0.06 EPS. Mister Car Wash’s revenue was up 6.5% on a year-over-year basis. Equities analysts predict that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

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.