Sun Life Financial Inc. Sells 5,468,100 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Sun Life Financial Inc. trimmed its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 59.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,801,138 shares of the company’s stock after selling 5,468,100 shares during the quarter. Mister Car Wash accounts for approximately 1.5% of Sun Life Financial Inc.’s portfolio, making the stock its 15th largest holding. Sun Life Financial Inc.’s holdings in Mister Car Wash were worth $27,710,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Inc. purchased a new position in Mister Car Wash during the fourth quarter worth about $1,217,000. JPMorgan Chase & Co. boosted its stake in shares of Mister Car Wash by 136.0% in the 4th quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company’s stock worth $2,016,000 after buying an additional 159,358 shares during the last quarter. AlphaQuest LLC grew its holdings in shares of Mister Car Wash by 218,505.6% in the fourth quarter. AlphaQuest LLC now owns 155,210 shares of the company’s stock valued at $1,131,000 after acquiring an additional 155,139 shares in the last quarter. Barclays PLC increased its position in shares of Mister Car Wash by 281.2% during the third quarter. Barclays PLC now owns 179,013 shares of the company’s stock valued at $1,165,000 after acquiring an additional 132,051 shares during the last quarter. Finally, New Age Alpha Advisors LLC bought a new stake in Mister Car Wash during the fourth quarter worth $945,000.

Mister Car Wash Stock Performance

NYSE MCW opened at $7.29 on Friday. The firm has a market cap of $2.36 billion, a P/E ratio of 33.14, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The company’s 50 day moving average is $7.91 and its 200-day moving average is $7.46. Mister Car Wash, Inc. has a 12-month low of $5.84 and a 12-month high of $8.60.

Insider Activity at Mister Car Wash

In other Mister Car Wash news, insider Joseph Duane Matheny sold 6,410 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.01, for a total value of $51,344.10. Following the completion of the transaction, the insider now owns 81,206 shares in the company, valued at $650,460.06. This trade represents a 7.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Jedidiah Marc Gold sold 42,278 shares of Mister Car Wash stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $8.50, for a total value of $359,363.00. Following the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at $381,259. The trade was a 48.52 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 360,313 shares of company stock worth $2,995,270. Corporate insiders own 70.00% of the company’s stock.

Analyst Upgrades and Downgrades

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

Mister Car Wash 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.