Victory Capital Management Inc. Raises Stake in Mister Car Wash, Inc. (NYSE:MCW)

Victory Capital Management Inc. lifted its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 29.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 82,186 shares of the company’s stock after buying an additional 18,610 shares during the quarter. Victory Capital Management Inc.’s holdings in Mister Car Wash were worth $599,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of MCW. The Manufacturers Life Insurance Company grew its holdings in Mister Car Wash by 6,003.1% in the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after purchasing an additional 3,571,675 shares during the period. State Street Corp increased its position in Mister Car Wash by 1.9% during the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock worth $21,977,000 after purchasing an additional 63,631 shares during the last quarter. Brown Brothers Harriman & Co. increased its position in Mister Car Wash by 41.1% during the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after purchasing an additional 731,366 shares during the last quarter. Geode Capital Management LLC increased its position in Mister Car Wash by 1.8% during the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock worth $13,775,000 after purchasing an additional 38,365 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Mister Car Wash by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 699,713 shares of the company’s stock worth $5,101,000 after purchasing an additional 12,174 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages recently commented on MCW. Morgan Stanley upped their price target on shares of Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. Raymond James began coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They set an “outperform” rating and a $10.00 price target for the company. UBS Group upped their price target on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Stephens assumed coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price objective for the company. Finally, Wells Fargo & Company dropped their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $8.43.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $8.10 on Friday. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $8.56. The firm has a fifty day moving average of $7.75 and a 200-day moving average of $7.33. The firm has a market capitalization of $2.62 billion, a P/E ratio of 36.82, a PEG ratio of 1.65 and a beta of 1.60. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Insider Transactions at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 93,121 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.51, for a total transaction of $792,459.71. Following the transaction, the chief financial officer now directly owns 55,437 shares in the company, valued at $471,768.87. This represents a 62.68 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the transaction, the chief executive officer now owns 4,479,420 shares in the company, valued at approximately $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 307,324 shares of company stock valued at $2,543,804 over the last 90 days. Corporate insiders own 70.00% of the company’s stock.

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.