Raymond James Financial Inc. Makes New $1.22 Million Investment in Mister Car Wash, Inc. (NYSE:MCW)

Raymond James Financial Inc. bought a new position in shares of Mister Car Wash, Inc. (NYSE:MCW - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 166,971 shares of the company's stock, valued at approximately $1,217,000. Raymond James Financial Inc. owned approximately 0.05% of Mister Car Wash as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently made changes to their positions in the company. FIL Ltd increased its holdings in shares of Mister Car Wash by 2.4% in the 4th quarter. FIL Ltd now owns 9,915,100 shares of the company's stock valued at $72,281,000 after acquiring an additional 230,100 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of Mister Car Wash by 136.0% in the fourth quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company's stock worth $2,016,000 after acquiring an additional 159,358 shares during the last quarter. AlphaQuest LLC lifted its position in shares of Mister Car Wash by 218,505.6% during the 4th quarter. AlphaQuest LLC now owns 155,210 shares of the company's stock worth $1,131,000 after buying an additional 155,139 shares during the period. Barclays PLC grew its holdings in Mister Car Wash by 281.2% during the 3rd quarter. Barclays PLC now owns 179,013 shares of the company's stock worth $1,165,000 after acquiring an additional 132,051 shares during the last quarter. Finally, New Age Alpha Advisors LLC acquired a new position in shares of Mister Car Wash during the 4th quarter worth about $945,000.

Insider Activity

In related news, CFO Jedidiah Marc Gold sold 93,121 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.51, for a total transaction of $792,459.71. Following the sale, the chief financial officer now owns 55,437 shares of the company's stock, valued at approximately $471,768.87. This represents a 62.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Joseph Duane Matheny sold 30,742 shares of Mister Car Wash stock in a transaction on Thursday, February 20th. The stock was sold at an average price of $8.07, for a total transaction of $248,087.94. Following the completion of the transaction, the insider now directly owns 81,206 shares in the company, valued at approximately $655,332.42. The trade was a 27.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 286,009 shares of company stock valued at $2,397,123 over the last three months. Insiders own 70.00% of the company's stock.

Mister Car Wash Stock Down 0.4 %

Mister Car Wash stock traded down $0.03 during midday trading on Friday, hitting $7.46. 270,245 shares of the stock were exchanged, compared to its average volume of 1,576,681. Mister Car Wash, Inc. has a 1 year low of $5.84 and a 1 year high of $8.60. The company has a 50 day moving average price of $7.58 and a two-hundred day moving average price of $7.57. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The firm has a market cap of $2.42 billion, a P/E ratio of 33.91, a P/E/G ratio of 1.65 and a beta of 1.58.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same quarter in the previous year, the company earned $0.08 earnings per share. The firm's revenue for the quarter was up 9.4% compared to the same quarter last year. On average, sell-side analysts predict that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently issued reports on MCW. Raymond James initiated coverage on shares of Mister Car Wash in a research note on Thursday, March 13th. They set an "outperform" rating and a $10.00 target price for the company. Morgan Stanley upped their target price on shares of Mister Car Wash from $8.00 to $9.00 and gave the stock an "equal weight" rating in a report on Thursday, February 20th. UBS Group dropped their price objective on Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating for the company in a research note on Thursday, May 1st. Finally, Stephens dropped their target price on shares of Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating on the stock in a research note on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.46.

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.