Russell Investments Group Ltd. Acquires 58,763 Shares of Mister Car Wash, Inc. $MCW

Key Points

• Russell Investments Group Ltd. significantly increased its holdings in Mister Car Wash, acquiring an additional 58,763 shares in the first quarter, bringing its total ownership to 58,869 shares valued at approximately $464,000.
• Insider selling has been notable, with Joseph Duane Matheny selling 102,456 shares and CFO Jedidiah Marc Gold selling 6,357 shares, indicating a recent downturn in insider position percentages.
• Multiple analysts have revised their price targets for Mister Car Wash, with most adjustments indicating a lower outlook, the latest being a consensus price target of $8.09.

Russell Investments Group Ltd. raised its stake in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 55,436.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 58,869 shares of the company's stock after acquiring an additional 58,763 shares during the period. Russell Investments Group Ltd.'s holdings in Mister Car Wash were worth $464,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of MCW. Brown Advisory Inc. raised its holdings in Mister Car Wash by 6.8% in the 1st quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company's stock valued at $104,870,000 after buying an additional 843,225 shares during the last quarter. Vanguard Group Inc. boosted its holdings in Mister Car Wash by 0.4% in the first quarter. Vanguard Group Inc. now owns 10,686,795 shares of the company's stock worth $84,319,000 after acquiring an additional 40,236 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in 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 acquiring an additional 958,479 shares in the last quarter. Divisadero Street Capital Management LP bought a new position in shares of Mister Car Wash in the fourth quarter valued at approximately $10,392,000. Finally, Millennium Management LLC lifted its holdings in shares of Mister Car Wash by 146.1% in the fourth quarter. Millennium Management LLC now owns 891,076 shares of the company's stock valued at $6,496,000 after purchasing an additional 529,050 shares in the last quarter.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 6,357 shares of the business's stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $6.13, for a total transaction of $38,968.41. Following the completion of the transaction, the chief financial officer owned 75,637 shares in the company, valued at $463,654.81. The trade was a 7.75% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Joseph Duane Matheny sold 102,456 shares of the business's stock in a transaction that occurred on 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 owned 88,196 shares of the company's stock, valued at $555,634.80. This trade represents a 53.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 144,836 shares of company stock worth $905,262 over the last 90 days. Company insiders own 69.00% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Stifel Nicolaus decreased their price target on Mister Car Wash from $8.50 to $7.50 and set a "hold" rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company reduced their target price on Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a research report on Friday, July 18th. BMO Capital Markets reduced their target price on Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. Guggenheim set a $8.00 price objective on Mister Car Wash and gave the stock a "buy" rating in a report on Monday, August 4th. Finally, Piper Sandler lowered their target price on Mister Car Wash from $11.00 to $8.00 and set an "overweight" rating for the company in a research note on Thursday, July 31st. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $8.09.

Mister Car Wash Price Performance

NYSE:MCW traded down $0.08 on Tuesday, reaching $5.63. 1,233,384 shares of the company's stock traded hands, compared to its average volume of 1,580,201. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. The stock has a 50-day simple moving average of $6.10 and a 200-day simple moving average of $6.92. The firm has a market cap of $1.84 billion, a PE ratio of 25.59, a P/E/G ratio of 1.65 and a beta of 1.48. Mister Car Wash, Inc. has a 12 month low of $5.27 and a 12 month high of $8.60.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.11 earnings per share 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 analysts' expectations of $271.83 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The company's revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. Equities research analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share 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.