New York State Common Retirement Fund Buys 45,202 Shares of Mister Car Wash, Inc. (NYSE:MCW)

New York State Common Retirement Fund raised its position in shares of Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 34.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 178,028 shares of the company's stock after purchasing an additional 45,202 shares during the period. New York State Common Retirement Fund owned 0.05% of Mister Car Wash worth $1,405,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of MCW. Cornerstone Investment Partners LLC purchased a new stake in shares of Mister Car Wash during the first quarter worth $159,000. Brown Advisory Inc. lifted its position in shares of Mister Car Wash by 6.8% during the first quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company's stock worth $104,870,000 after acquiring an additional 843,225 shares in the last quarter. Calamos Advisors LLC purchased a new stake in shares of Mister Car Wash during the first quarter worth $314,000. Principal Financial Group Inc. lifted its position in shares of Mister Car Wash by 2.3% during the first quarter. Principal Financial Group Inc. now owns 466,540 shares of the company's stock worth $3,681,000 after acquiring an additional 10,404 shares in the last quarter. Finally, Teacher Retirement System of Texas purchased a new stake in shares of Mister Car Wash during the first quarter worth $112,000.

Insiders Place Their Bets

In related news, CEO John Lo-Minn Lai sold 41,997 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $280,959.93. Following the transaction, the chief executive officer owned 4,532,254 shares of the company's stock, valued at $30,320,779.26. This represents a 0.92% decrease in their ownership of the stock. The transaction 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 the firm's stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $6.30, for a total value of $645,472.80. Following the transaction, the insider directly owned 88,196 shares in the company, valued at $555,634.80. This trade represents a 53.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 266,355 shares of company stock valued at $1,733,596 over the last quarter. Insiders own 69.00% of the company's stock.

Analysts Set New Price Targets

Several research firms have issued reports on MCW. Wells Fargo & Company dropped their target price on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating on the stock in a research report on Friday, July 18th. The Goldman Sachs Group began coverage on Mister Car Wash in a research report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 price objective on the stock. BTIG Research began coverage on Mister Car Wash in a research report on Monday, June 30th. They issued a "neutral" rating on the stock. UBS Group lowered their price objective on Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Finally, Stephens lowered their price objective on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating on the stock in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Mister Car Wash presently has an average rating of "Hold" and an average target price of $8.33.

Mister Car Wash Price Performance

Shares of MCW stock traded down $0.01 on Monday, reaching $6.45. The company's stock had a trading volume of 757,109 shares, compared to its average volume of 1,501,623. 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, Inc. has a 12-month low of $5.84 and a 12-month high of $8.60. The company has a market capitalization of $2.10 billion, a P/E ratio of 29.32, a PEG ratio of 1.65 and a beta of 1.49. The stock's 50 day simple moving average is $6.55 and its 200-day simple moving average is $7.25.

Mister Car Wash (NYSE:MCW - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, beating analysts' consensus estimates of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.08 EPS. As a group, equities analysts predict 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.