Mister Car Wash, Inc. (NYSE:MCW) Position Increased by Summit Creek Advisors LLC

Summit Creek Advisors LLC raised its holdings in shares of Mister Car Wash, Inc. (NYSE:MCWGet Rating) by 71.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 641,813 shares of the company’s stock after purchasing an additional 266,917 shares during the period. Summit Creek Advisors LLC owned about 0.21% of Mister Car Wash worth $9,492,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. TCI Wealth Advisors Inc. increased its stake in Mister Car Wash by 3,555.6% during the first quarter. TCI Wealth Advisors Inc. now owns 16,450 shares of the company’s stock valued at $244,000 after purchasing an additional 16,000 shares during the last quarter. Roubaix Capital LLC bought a new stake in Mister Car Wash during the first quarter valued at $2,355,000. Walleye Capital LLC bought a new stake in Mister Car Wash during the fourth quarter valued at $443,000. Miura Global Management LLC bought a new stake in Mister Car Wash during the fourth quarter valued at $18,210,000. Finally, Wasatch Advisors Inc. boosted its holdings in shares of Mister Car Wash by 22.9% during the fourth quarter. Wasatch Advisors Inc. now owns 8,089,568 shares of the company’s stock valued at $147,311,000 after acquiring an additional 1,506,851 shares during the period. Institutional investors own 98.43% of the company’s stock.

Mister Car Wash Stock Performance

MCW stock opened at $11.79 on Friday. The company has a market capitalization of $3.56 billion, a P/E ratio of -98.25, a PEG ratio of 2.07 and a beta of 0.65. The company has a 50-day simple moving average of $11.64 and a 200 day simple moving average of $13.87. Mister Car Wash, Inc. has a fifty-two week low of $10.35 and a fifty-two week high of $21.50. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 1.28.

Mister Car Wash (NYSE:MCWGet Rating) last posted its quarterly earnings data on Thursday, May 12th. The company reported $0.10 earnings per share for the quarter, hitting the consensus estimate of $0.10. Mister Car Wash had a negative net margin of 1.39% and a negative return on equity of 3.66%. The business had revenue of $219.42 million during the quarter, compared to the consensus estimate of $215.17 million. Sell-side analysts predict that Mister Car Wash, Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on MCW shares. The Goldman Sachs Group downgraded shares of Mister Car Wash from a “neutral” rating to a “sell” rating and reduced their price target for the company from $12.00 to $10.00 in a report on Monday, June 27th. Piper Sandler reduced their price target on shares of Mister Car Wash from $18.00 to $13.00 in a report on Friday, May 13th. Finally, BMO Capital Markets reduced their price target on shares of Mister Car Wash from $23.00 to $18.00 in a report on Friday, May 13th. Two investment analysts have rated the stock with a sell rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $18.14.

Insiders Place Their Bets

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 5,378 shares of the business’s stock in a transaction dated Tuesday, June 28th. The shares were sold at an average price of $11.47, for a total value of $61,685.66. Following the sale, the chief financial officer now directly owns 838,524 shares in the company, valued at $9,617,870.28. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Mister Car Wash news, CEO John Lo-Minn Lai sold 34,215 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $11.47, for a total transaction of $392,446.05. Following the sale, the chief executive officer now owns 2,838,168 shares in the company, valued at approximately $32,553,786.96. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jedidiah Marc Gold sold 5,378 shares of the business’s stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $11.47, for a total value of $61,685.66. Following the sale, the chief financial officer now owns 838,524 shares in the company, valued at approximately $9,617,870.28. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,513 shares of company stock worth $510,564. 71.90% of the stock is owned by corporate insiders.

Mister Car Wash Profile

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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. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

See Also

Institutional Ownership by Quarter for Mister Car Wash (NYSE:MCW)

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