Mister Car Wash, Inc. (NYSE:MCW) Shares Sold by Summit Creek Advisors LLC

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 the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 590,432 shares of the company's stock after selling 156,091 shares during the period. Summit Creek Advisors LLC owned about 0.18% of Mister Car Wash worth $4,659,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Quantinno Capital Management LP acquired a new position in shares of Mister Car Wash in the 4th quarter valued at $77,000. Quarry LP acquired a new position in Mister Car Wash during the fourth quarter worth $79,000. Forum Financial Management LP acquired a new position in Mister Car Wash during the fourth quarter worth $81,000. BNP Paribas Financial Markets acquired a new position in Mister Car Wash during the fourth quarter worth $96,000. Finally, LPL Financial LLC acquired a new position in Mister Car Wash during the fourth quarter worth $102,000.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $6.46 on Monday. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $8.60. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 29.36, a PEG ratio of 1.65 and a beta of 1.49. The company has a fifty day simple moving average of $6.57 and a 200-day simple moving average of $7.25. 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 (NYSE:MCW - Get Free Report) last released its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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%. During the same quarter last year, the business earned $0.08 earnings per share. Mister Car Wash's revenue was up 9.4% compared to the same quarter last year. On average, equities analysts anticipate that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal year.

Insider Transactions at Mister Car Wash

In related news, CFO Jedidiah Marc Gold sold 6,357 shares of the company's stock in a transaction dated 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 owned 75,637 shares of the company's stock, valued at approximately $463,654.81. This represents a 7.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO John Lo-Minn Lai sold 33,904 shares of the company's stock in a transaction dated Thursday, June 26th. The shares were sold at an average price of $6.13, for a total transaction of $207,831.52. Following the completion of the sale, the chief executive officer directly owned 4,578,350 shares of the company's stock, valued at $28,065,285.50. This represents a 0.74% 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 valued at $1,733,596 in the last three months. 69.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

MCW has been the subject of a number of research analyst reports. UBS Group reduced their price objective 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. Stephens reduced their price objective 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. The Goldman Sachs Group initiated coverage on shares of Mister Car Wash in a research report on Tuesday, June 3rd. They set a "sell" rating and a $6.25 price objective for the company. BTIG Research began coverage on shares of Mister Car Wash in a research report on Monday, June 30th. They set a "neutral" rating for the company. Finally, Wells Fargo & Company dropped their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a report on Friday, July 18th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.33.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.