Bank of America Corp DE Decreases Stock Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Bank of America Corp DE trimmed its position in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 74.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,074 shares of the company's stock after selling 887,016 shares during the period. Bank of America Corp DE owned 0.09% of Mister Car Wash worth $2,195,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Swiss National Bank boosted its holdings in Mister Car Wash by 1.4% in the 4th quarter. Swiss National Bank now owns 189,800 shares of the company's stock valued at $1,384,000 after purchasing an additional 2,600 shares during the period. Bank of Montreal Can boosted its holdings in Mister Car Wash by 22.6% in the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company's stock valued at $105,000 after purchasing an additional 2,649 shares during the period. MetLife Investment Management LLC boosted its holdings in Mister Car Wash by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 58,298 shares of the company's stock valued at $425,000 after purchasing an additional 3,255 shares during the period. Handelsbanken Fonder AB boosted its holdings in Mister Car Wash by 9.3% in the 4th quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company's stock valued at $343,000 after purchasing an additional 4,000 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Mister Car Wash by 59.4% in the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company's stock valued at $98,000 after purchasing an additional 5,032 shares during the period.

Insider Buying and Selling

In related news, CFO Jedidiah Marc Gold sold 52,989 shares of Mister Car Wash stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.52, for a total value of $451,466.28. Following the transaction, the chief financial officer now owns 55,437 shares in the company, valued at $472,323.24. This trade represents a 48.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Mary Lyn Porter sold 6,303 shares of Mister Car Wash stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total transaction of $42,167.07. Following the completion of the transaction, the insider now owns 23,081 shares in the company, valued at approximately $154,411.89. The trade was a 21.45% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 211,560 shares of company stock worth $1,576,563 in the last 90 days. 69.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have commented on MCW shares. Morgan Stanley raised their price target on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. Stephens cut their price target on shares of Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group assumed coverage on shares of Mister Car Wash in a report on Tuesday. They issued a "sell" rating and a $6.25 price target for the company. UBS Group dropped their price objective on shares of Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating for the company in a report on Thursday, May 1st. Finally, Raymond James assumed coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They set an "outperform" rating and a $10.00 price objective for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $8.50.

Mister Car Wash Price Performance

Shares of NYSE MCW traded up $0.15 during mid-day trading on Friday, reaching $6.57. 1,563,483 shares of the company were exchanged, compared to its average volume of 1,537,213. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $8.60. 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 stock has a market capitalization of $2.13 billion, a PE ratio of 29.86, a PEG ratio of 1.65 and a beta of 1.56. The company's 50 day moving average price is $7.23 and its 200 day moving average price is $7.53.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its quarterly earnings data 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 net margin of 7.06% and a return on equity of 10.49%. Mister Car Wash's revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.08 earnings per share. Sell-side analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal year.

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.