Millennium Management LLC Raises Stock Position in Mister Car Wash, Inc. (NYSE:MCW)

Millennium Management LLC grew its holdings in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 146.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 891,076 shares of the company's stock after acquiring an additional 529,050 shares during the period. Millennium Management LLC owned about 0.28% of Mister Car Wash worth $6,496,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Quarry LP acquired a new stake in Mister Car Wash during the fourth quarter valued at $79,000. Forum Financial Management LP purchased a new position in shares of Mister Car Wash in the fourth quarter worth about $81,000. BNP Paribas Financial Markets purchased a new position in shares of Mister Car Wash in the fourth quarter worth about $96,000. Blue Trust Inc. raised its stake in Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company's stock worth $98,000 after purchasing an additional 5,032 shares during the period. Finally, LPL Financial LLC purchased a new position in Mister Car Wash during the fourth quarter worth about $102,000.

Mister Car Wash Stock Down 0.1%

Shares of MCW stock traded down $0.01 during trading on Friday, reaching $7.12. The company's stock had a trading volume of 1,784,750 shares, compared to its average volume of 1,531,914. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The company has a market capitalization of $2.31 billion, a price-to-earnings ratio of 32.37, a P/E/G ratio of 1.65 and a beta of 1.58. The stock's 50-day moving average price is $7.38 and its 200 day moving average price is $7.57. Mister Car Wash, Inc. has a 1-year low of $5.84 and a 1-year high of $8.60.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, beating 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%. The firm's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the previous year, the company earned $0.08 earnings per share. On average, research analysts anticipate that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Insider Activity at Mister Car Wash

In other Mister Car Wash news, 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 in the company, valued at $37,806,304.80. The trade was a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Jedidiah Marc Gold sold 93,121 shares of the business's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.51, for a total transaction of $792,459.71. Following the transaction, the chief financial officer now owns 55,437 shares of the company's stock, valued at $471,768.87. This trade represents a 62.68% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 225,989 shares of company stock worth $1,883,553. Corporate insiders own 69.00% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on MCW. Morgan Stanley lifted 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 research report on Thursday, February 20th. Raymond James began coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They set an "outperform" rating and a $10.00 price target for the company. Stephens dropped 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 research report on Thursday, April 24th. Finally, UBS Group dropped their price target on shares of Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating for the company in a research report on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average target price of $8.46.

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.