King Luther Capital Management Corp Makes New $2.25 Million Investment in Mister Car Wash, Inc. (NYSE:MCW)

Key Points

• King Luther Capital Management Corp acquired a new stake in Mister Car Wash, purchasing 284,530 shares valued at approximately $2,245,000, representing about 0.09% of the company.
• Mister Car Wash reported earnings of $0.11 per share for the last quarter, missing estimates and showing 4.1% year-over-year revenue growth.
• Wall Street analysts maintain a consensus average rating of "Hold" for Mister Car Wash with a target price of $8.09, despite varied individual ratings from multiple firms.

King Luther Capital Management Corp purchased a new stake in Mister Car Wash, Inc. (NYSE:MCW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 284,530 shares of the company's stock, valued at approximately $2,245,000. King Luther Capital Management Corp owned 0.09% of Mister Car Wash as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in MCW. LPL Financial LLC acquired a new position in Mister Car Wash during the 4th quarter worth approximately $102,000. JPMorgan Chase & Co. increased its position in Mister Car Wash by 136.0% during the 4th quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company's stock worth $2,016,000 after purchasing an additional 159,358 shares during the period. Wells Fargo & Company MN increased its position in Mister Car Wash by 46.3% during the 4th quarter. Wells Fargo & Company MN now owns 49,395 shares of the company's stock worth $360,000 after purchasing an additional 15,640 shares during the period. Envestnet Asset Management Inc. increased its position in Mister Car Wash by 41.2% during the 4th quarter. Envestnet Asset Management Inc. now owns 18,646 shares of the company's stock worth $136,000 after purchasing an additional 5,437 shares during the period. Finally, Bank of Montreal Can increased its position in Mister Car Wash by 22.6% during the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company's stock worth $105,000 after purchasing an additional 2,649 shares during the period.

Insider Transactions at Mister Car Wash

In related news, CEO John Lo-Minn Lai sold 33,904 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $6.13, for a total value of $207,831.52. Following the sale, the chief executive officer owned 4,578,350 shares of the company's stock, valued at approximately $28,065,285.50. This represents a 0.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jedidiah Marc Gold sold 6,357 shares of the company's stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $6.13, for a total value of $38,968.41. Following the completion of the sale, the chief financial officer directly owned 75,637 shares in the company, valued at approximately $463,654.81. The trade was a 7.75% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 257,355 shares of company stock worth $1,661,866 in the last quarter. Insiders own 69.00% of the company's stock.

Mister Car Wash Price Performance

Shares of MCW traded up $0.02 on Friday, reaching $5.93. The stock had a trading volume of 1,460,199 shares, compared to its average volume of 1,590,478. The firm has a market capitalization of $1.94 billion, a PE ratio of 26.96, a PEG ratio of 1.65 and a beta of 1.48. 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 firm has a 50-day moving average of $6.24 and a 200 day moving average of $7.11. Mister Car Wash, Inc. has a twelve month low of $5.27 and a twelve month high of $8.60.

Mister Car Wash (NYSE:MCW - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 analysts' expectations of $271.83 million. During the same period in the previous year, the company posted $0.11 EPS. Mister Car Wash's quarterly revenue was up 4.1% compared to the same quarter last year. Sell-side analysts expect that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

MCW has been the topic of several recent analyst reports. Guggenheim set a $8.00 target price on Mister Car Wash and gave the stock a "buy" rating in a research report on Monday, August 4th. Stifel Nicolaus dropped their target price on Mister Car Wash from $8.50 to $7.50 and set a "hold" rating on the stock in a research report on Thursday, July 31st. BMO Capital Markets dropped their target price on Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Morgan Stanley dropped their target price on Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. Finally, The Goldman Sachs Group assumed coverage on Mister Car Wash in a research report on Tuesday, June 3rd. They set a "sell" rating and a $6.25 target price on the stock. One investment analyst has rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Mister Car Wash has a consensus rating of "Hold" and an average price target of $8.09.

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.