Driehaus Capital Management LLC Makes New $12.42 Million Investment in Mister Car Wash, Inc. $MCW

Key Points

• Driehaus Capital Management LLC invested approximately $12.42 million in Mister Car Wash, acquiring 1,573,562 shares and owning 0.48% of the company as reported in their latest SEC filing.
• Insiders have been actively selling shares, with significant transactions resulting in a total sale of 246,945 shares valued at $1.59 million over the last quarter, indicating a trend of insider selling.
• Analysts have set varied price targets for Mister Car Wash, with Mizuho lowering its target from $11.00 to $9.00 while others recommend "sell" ratings, reflecting mixed sentiment among market observers.

Driehaus Capital Management LLC purchased a new position in Mister Car Wash, Inc. (NYSE:MCW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 1,573,562 shares of the company's stock, valued at approximately $12,415,000. Driehaus Capital Management LLC owned 0.48% of Mister Car Wash at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of MCW. Divisadero Street Capital Management LP bought a new position in shares of Mister Car Wash in the fourth quarter worth approximately $10,392,000. Dimensional Fund Advisors LP boosted its position in shares of Mister Car Wash by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company's stock worth $22,895,000 after purchasing an additional 958,479 shares during the period. Charles Schwab Investment Management Inc. bought a new position in shares of Mister Car Wash in the first quarter worth approximately $6,863,000. Brown Advisory Inc. boosted its position in shares of Mister Car Wash by 6.8% in the first quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company's stock worth $104,870,000 after purchasing an additional 843,225 shares during the period. Finally, Avory & Company LLC lifted its holdings in shares of Mister Car Wash by 3,298.5% in the first quarter. Avory & Company LLC now owns 791,949 shares of the company's stock worth $6,248,000 after buying an additional 768,646 shares in the last quarter.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash 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 value of $42,167.07. Following the completion of the transaction, the insider directly owned 23,081 shares of the company's stock, valued at $154,411.89. This trade represents a 21.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Joseph Duane Matheny sold 102,456 shares of the stock in a transaction on Monday, June 23rd. The shares were sold at an average price of $6.30, for a total transaction of $645,472.80. Following the completion of the sale, the insider directly owned 88,196 shares in the company, valued at approximately $555,634.80. This represents a 53.74% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 246,945 shares of company stock valued at $1,588,371. Corporate insiders own 69.00% of the company's stock.

Analysts Set New Price Targets

MCW has been the topic of several research analyst reports. Mizuho lowered their target price on shares of Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. The Goldman Sachs Group initiated coverage on shares of Mister Car Wash in a report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 target price on the stock. Wells Fargo & Company lowered their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating on the stock in a report on Friday, July 18th. Stifel Nicolaus lowered their target price on shares of Mister Car Wash from $8.50 to $7.50 and set a "hold" rating on the stock in a report on Thursday, July 31st. Finally, Guggenheim set a $8.00 target price on shares of Mister Car Wash and gave the stock a "buy" rating in a report on Monday, August 4th. Six investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $8.09.

Mister Car Wash Stock Performance

Shares of NYSE:MCW opened at $5.71 on Friday. Mister Car Wash, Inc. has a 52 week low of $5.27 and a 52 week high of $8.60. The stock has a market capitalization of $1.87 billion, a P/E ratio of 25.96, a PEG ratio of 1.65 and a beta of 1.48. The firm has a fifty day simple moving average of $6.13 and a two-hundred day simple moving average of $6.95. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.The business had revenue of $265.42 million during the quarter, compared to analysts' expectations of $271.83 million. During the same period in the previous year, the business earned $0.11 earnings per share. The business'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, analysts expect that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal 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.

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