Raymond James Financial Inc. Purchases New Position 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) in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. FIL Ltd boosted its position in Mister Car Wash by 2.4% during the fourth quarter. FIL Ltd now owns 9,915,100 shares of the company's stock valued at $72,281,000 after purchasing an additional 230,100 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in Mister Car Wash by 136.0% during the fourth 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 raised its position in Mister Car Wash by 218,505.6% during the fourth quarter. AlphaQuest LLC now owns 155,210 shares of the company's stock worth $1,131,000 after acquiring an additional 155,139 shares in the last quarter. Barclays PLC lifted its stake in Mister Car Wash by 281.2% in 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 position in shares of Mister Car Wash in the 4th quarter valued at about $945,000.

Mister Car Wash Stock Performance

NYSE:MCW traded down $0.01 during mid-day trading on Thursday, hitting $7.50. 894,115 shares of the stock were exchanged, compared to its average volume of 1,578,974. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. The firm's 50-day simple moving average is $7.60 and its 200 day simple moving average is $7.56. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $8.60. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of 34.12, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share 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 prior year, the company earned $0.08 earnings per share. The firm's revenue was up 9.4% compared to the same quarter last year. As a group, equities analysts anticipate that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal year.

Insiders Place Their Bets

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 shares were sold at an average price of $8.01, for a total value of $51,344.10. Following the transaction, the insider now directly owns 81,206 shares of the company's stock, valued at $650,460.06. This trade represents a 7.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lo-Minn Lai sold 22,039 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The shares were 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 of the company's stock, valued at $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 have sold a total of 286,009 shares of company stock worth $2,397,123 in the last quarter. Corporate insiders own 70.00% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on MCW. UBS Group cut their target price on shares of 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. Stephens reduced their target price on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Raymond James assumed coverage on Mister Car Wash in a report on Thursday, March 13th. They set an "outperform" rating and a $10.00 target price on the stock. Finally, Morgan Stanley raised their price target on Mister Car Wash from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently 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.