Mister Car Wash, Inc. $MCW Shares Sold by Algert Global LLC

Key Points

• Algert Global LLC significantly reduced its holdings in Mister Car Wash, Inc. by 86.4%, owning 47,034 shares worth approximately $371,000 following the sale of 299,190 shares in the first quarter.
• Multiple hedge funds have recently increased their positions in Mister Car Wash, with American Century Companies Inc. raising its stake by 14.9%, now holding 186,978 shares valued at $1,475,000.
• The stock price targets for Mister Car Wash have been adjusted downward by several analysts, with Guggenheim setting a target of $8.00, while BMO Capital Markets reduced theirs from $11.00 to $9.00.

Algert Global LLC reduced its stake in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 86.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 47,034 shares of the company's stock after selling 299,190 shares during the period. Algert Global LLC's holdings in Mister Car Wash were worth $371,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP purchased a new stake in Mister Car Wash in the 4th quarter valued at about $77,000. Quarry LP purchased a new stake in Mister Car Wash during the fourth quarter worth about $79,000. Forum Financial Management LP purchased a new stake in Mister Car Wash during the fourth quarter worth about $81,000. BNP Paribas Financial Markets purchased a new stake in Mister Car Wash during the fourth quarter worth about $96,000. Finally, LPL Financial LLC purchased a new stake in Mister Car Wash during the fourth quarter worth about $102,000.

Analysts Set New Price Targets

A number of brokerages have issued reports on MCW. BTIG Research began coverage on shares of Mister Car Wash in a research note on Monday, June 30th. They set a "neutral" rating on the stock. Guggenheim set a $8.00 price target on shares of Mister Car Wash and gave the stock a "buy" rating in a research note on Monday, August 4th. The Goldman Sachs Group began coverage on shares of Mister Car Wash in a research note on Tuesday, June 3rd. They set a "sell" rating and a $6.25 price target on the stock. Wells Fargo & Company cut their price target on shares of Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating on the stock in a research note on Friday, July 18th. Finally, Morgan Stanley cut their price target on shares of Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating on the stock in a research note on Thursday, July 31st. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $8.09.

Insider Activity at Mister Car Wash

In related news, insider Mary Lyn Porter sold 6,303 shares of Mister Car Wash stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total transaction of $42,167.07. Following the sale, the insider directly owned 23,081 shares in the company, valued at $154,411.89. This trade represents a 21.45% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Joseph Duane Matheny sold 102,456 shares of Mister Car Wash stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $6.30, for a total transaction of $645,472.80. Following the sale, the insider owned 88,196 shares in the company, valued at $555,634.80. This represents a 53.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 246,945 shares of company stock valued at $1,588,371 over the last quarter. 69.00% of the stock is owned by insiders.

Mister Car Wash Stock Down 1.6%

MCW stock traded down $0.09 during midday trading on Thursday, reaching $5.67. 970,770 shares of the company were exchanged, compared to its average volume of 1,587,123. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. Mister Car Wash, Inc. has a 1-year low of $5.27 and a 1-year high of $8.60. The stock's 50-day simple moving average is $6.15 and its 200 day simple moving average is $6.99. The company has a market cap of $1.86 billion, a price-to-earnings ratio of 25.77, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The company had revenue of $265.42 million during the quarter, compared to analyst estimates of $271.83 million. During the same quarter in the previous year, the company posted $0.11 EPS. The company's quarterly revenue was up 4.1% on a year-over-year basis. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. On average, equities analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Mister Car Wash Company 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.