Summit Creek Advisors LLC Cuts Position in Mister Car Wash, Inc. (NYSE:MCW)

Key Points

• Summit Creek Advisors LLC has reduced its stake in Mister Car Wash by 20.9%, now owning approximately 590,432 shares valued at around $4.66 million.
• Mister Car Wash's recent earnings report showed a net margin of 7.06% and a 9.4% revenue increase year-over-year, with earnings per share of $0.11, exceeding expectations.
• Analyst ratings for Mister Car Wash are mixed, with the current consensus being a "Hold" rating and an average target price of $8.33.

Summit Creek Advisors LLC reduced its position in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 20.9% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 590,432 shares of the company's stock after selling 156,091 shares during the quarter. Summit Creek Advisors LLC owned 0.18% of Mister Car Wash worth $4,659,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Quantinno Capital Management LP purchased a new position in Mister Car Wash in the fourth quarter valued at about $77,000. Quarry LP bought a new stake in shares of Mister Car Wash in the 4th quarter valued at about $79,000. Forum Financial Management LP purchased a new position in shares of Mister Car Wash in the 4th quarter worth approximately $81,000. BNP Paribas Financial Markets bought a new position in shares of Mister Car Wash during the 4th quarter worth approximately $96,000. Finally, LPL Financial LLC purchased a new stake in Mister Car Wash during the fourth quarter valued at approximately $102,000.

Insider Buying and Selling

In other news, CEO John Lo-Minn Lai sold 41,997 shares of Mister Car Wash stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total transaction of $280,959.93. Following the sale, the chief executive officer owned 4,532,254 shares of the company's stock, valued at approximately $30,320,779.26. The trade was a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Veronica Rogers sold 5,205 shares of the stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $7.06, for a total value of $36,747.30. Following the completion of the transaction, the director owned 27,880 shares of the company's stock, valued at $196,832.80. The trade was a 15.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 266,355 shares of company stock worth $1,733,596 over the last ninety days. 69.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages have weighed in on MCW. Stifel Nicolaus lowered their target price on shares of Mister Car Wash from $8.50 to $7.50 and set a "hold" rating for the company in a research note on Thursday. Piper Sandler dropped their target price on Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating on the stock in a research note on Thursday. BTIG Research assumed coverage on Mister Car Wash in a research report on Monday, June 30th. They set a "neutral" rating on the stock. Stephens decreased their price target on Mister Car Wash from $9.00 to $8.50 and set an "equal weight" rating for the company in a research note on Thursday, April 24th. Finally, Morgan Stanley dropped their price target on Mister Car Wash from $9.00 to $7.50 and set an "equal weight" rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $7.88.

Mister Car Wash Stock Performance

Shares of Mister Car Wash stock traded down $0.42 during trading on Thursday, hitting $5.73. 8,353,107 shares of the company's stock were exchanged, compared to its average volume of 1,558,969. Mister Car Wash, Inc. has a 52-week low of $5.27 and a 52-week high of $8.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. The stock has a market capitalization of $1.86 billion, a price-to-earnings ratio of 26.02, a PEG ratio of 1.65 and a beta of 1.49. The business has a 50-day simple moving average of $6.51 and a 200-day simple moving average of $7.23.

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). The firm had revenue of $265.42 million for the quarter, compared to analyst estimates of $271.83 million. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. Mister Car Wash's revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.11 EPS. On average, research analysts forecast that Mister Car Wash, Inc. will post 0.33 EPS for the current 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.