Brown Advisory Inc. Increases Position in Mister Car Wash, Inc. (NYSE:MCW)

Brown Advisory Inc. raised its stake in shares of Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 6.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,291,516 shares of the company's stock after purchasing an additional 843,225 shares during the period. Brown Advisory Inc. owned 4.09% of Mister Car Wash worth $104,870,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FIL Ltd raised its position in Mister Car Wash by 2.4% during the fourth quarter. FIL Ltd now owns 9,915,100 shares of the company's stock valued at $72,281,000 after purchasing an additional 230,100 shares during the period. The Manufacturers Life Insurance Company raised its holdings in shares of Mister Car Wash by 25.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company's stock worth $33,127,000 after buying an additional 912,944 shares during the period. Dimensional Fund Advisors LP raised its holdings 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 buying an additional 958,479 shares during the period. Brown Brothers Harriman & Co. raised its holdings in shares of Mister Car Wash by 5.1% in the fourth quarter. Brown Brothers Harriman & Co. now owns 2,639,121 shares of the company's stock worth $19,239,000 after buying an additional 127,791 shares during the period. Finally, Marshall Wace LLP raised its holdings in shares of Mister Car Wash by 103.5% in the fourth quarter. Marshall Wace LLP now owns 2,152,718 shares of the company's stock worth $15,693,000 after buying an additional 1,094,751 shares during the period.

Analysts Set New Price Targets

MCW has been the topic of several recent analyst reports. UBS Group reduced their price target on Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating on the stock in a report on Thursday, May 1st. Raymond James Financial initiated coverage on Mister Car Wash in a report on Thursday, March 13th. They issued an "outperform" rating and a $10.00 price target on the stock. Stephens reduced their price target on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group began coverage on Mister Car Wash in a report on Tuesday, June 3rd. They issued a "sell" rating and a $6.25 price target on the stock. Finally, BTIG Research assumed coverage on Mister Car Wash in a report on Monday, June 30th. They set a "neutral" rating on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned 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 $8.50.

Mister Car Wash Stock Up 4.1%

NYSE MCW traded up $0.27 during midday trading on Thursday, hitting $6.82. 1,660,550 shares of the company traded hands, compared to its average volume of 1,509,942. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $8.60. The company's 50-day simple moving average is $6.84 and its 200-day simple moving average is $7.31. 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 cap of $2.22 billion, a PE ratio of 31.00, a price-to-earnings-growth ratio of 1.65 and a beta of 1.49.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same quarter in the prior year, the business posted $0.08 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities research analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Insider Activity at Mister Car Wash

In other news, insider Mary Lyn Porter sold 6,303 shares of the business's stock in a transaction dated Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $42,167.07. Following the completion of the transaction, the insider owned 23,081 shares of the company's stock, valued at $154,411.89. The trade was a 21.45% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Joseph Duane Matheny sold 102,456 shares of the business'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 completion of the transaction, the insider directly owned 88,196 shares of the company's stock, valued at approximately $555,634.80. This trade represents a 53.74% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 266,355 shares of company stock worth $1,733,596 in the last quarter. 69.00% of the stock is owned by insiders.

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.