State Street Corp Purchases 63,631 Shares of Mister Car Wash, Inc. (NYSE:MCW)

State Street Corp lifted its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,375,939 shares of the company’s stock after purchasing an additional 63,631 shares during the period. State Street Corp’s holdings in Mister Car Wash were worth $21,977,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new position in Mister Car Wash during the 2nd quarter worth $31,000. Blue Trust Inc. grew its stake in shares of Mister Car Wash by 884.7% in the third 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 in the last quarter. Ariadne Wealth Management LP bought a new position in Mister Car Wash during the second quarter worth about $73,000. CIBC Asset Management Inc acquired a new stake in Mister Car Wash in the 2nd quarter worth about $91,000. Finally, Sanctuary Advisors LLC bought a new stake in Mister Car Wash in the 2nd quarter valued at about $112,000.

Wall Street Analyst Weigh In

Separately, UBS Group raised their target price on shares of Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.25.

Mister Car Wash Stock Up 0.4 %

MCW stock opened at $7.07 on Monday. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $9.45. The business has a 50-day simple moving average of $7.48 and a 200 day simple moving average of $7.03. 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 market cap of $2.28 billion, a PE ratio of 30.74, a price-to-earnings-growth ratio of 1.95 and a beta of 1.61.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, beating the consensus estimate of $0.07 by $0.02. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The firm had revenue of $249.33 million for the quarter, compared to analyst estimates of $249.15 million. During the same period last year, the firm earned $0.06 EPS. The business’s quarterly revenue was up 6.5% compared to the same quarter last year. Sell-side analysts anticipate that Mister Car Wash, Inc. will post 0.29 EPS for the current fiscal year.

Insider Buying and Selling at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 14,600 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $7.97, for a total value of $116,362.00. Following the completion of the transaction, the insider now owns 81,206 shares of the company’s stock, valued at approximately $647,211.82. This represents a 15.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jedidiah Marc Gold sold 144,319 shares of the firm’s 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 sale, the chief financial officer now owns 44,854 shares in the company, valued at approximately $338,199.16. The trade was a 76.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 613,896 shares of company stock worth $4,957,139 over the last three months. 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.