Sun Life Financial Inc. Lowers Stock Position in Mister Car Wash, Inc. (NYSE:MCW)

Key Points

• Sun Life Financial Inc. reduced its position in Mister Car Wash by 23.8%, selling 906,200 shares and now owns approximately $22.8 million worth of the company's stock.
• Mister Car Wash's most recent earnings report revealed an EPS of $0.11, which missed analysts' expectations, and a revenue of $265.42 million, indicating a 4.1% year-over-year increase.
• Despite insider selling activities, including a 41,997 share sale by CEO John Lo-Minn Lai, insiders still hold 69% of the stock.

Sun Life Financial Inc. lessened its holdings in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 23.8% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 2,894,938 shares of the company's stock after selling 906,200 shares during the period. Mister Car Wash comprises 1.4% of Sun Life Financial Inc.'s holdings, making the stock its 16th biggest position. Sun Life Financial Inc. owned 0.89% of Mister Car Wash worth $22,841,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of MCW. American Century Companies Inc. lifted its position in shares of Mister Car Wash by 21.5% in the 4th quarter. American Century Companies Inc. now owns 162,747 shares of the company's stock worth $1,186,000 after purchasing an additional 28,829 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of Mister Car Wash in the 4th quarter worth approximately $128,000. LPL Financial LLC purchased a new stake in shares of Mister Car Wash in the 4th quarter worth approximately $102,000. JPMorgan Chase & Co. lifted its position in shares of Mister Car Wash by 136.0% in the 4th quarter. JPMorgan Chase & Co. now owns 276,533 shares of the company's stock worth $2,016,000 after purchasing an additional 159,358 shares during the period. Finally, Wells Fargo & Company MN lifted its position in shares of Mister Car Wash by 46.3% in the 4th quarter. Wells Fargo & Company MN now owns 49,395 shares of the company's stock worth $360,000 after purchasing an additional 15,640 shares during the period.

Mister Car Wash Trading Down 1.2%

Shares of Mister Car Wash stock opened at $5.71 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Mister Car Wash, Inc. has a 12-month low of $5.27 and a 12-month high of $8.60. The firm has a market capitalization of $1.85 billion, a price-to-earnings ratio of 25.96, a PEG ratio of 1.65 and a beta of 1.49. The firm's 50 day simple moving average is $6.45 and its two-hundred day simple moving average is $7.21.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its quarterly earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.13 by ($0.02). Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The company had revenue of $265.42 million for the quarter, compared to analyst estimates of $271.83 million. During the same quarter in the previous year, the company posted $0.11 EPS. The company's revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 41,997 shares of the company's 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 transaction, the chief executive officer owned 4,532,254 shares in the company, valued at approximately $30,320,779.26. This represents a 0.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Veronica Rogers sold 5,205 shares of the company's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.06, for a total transaction of $36,747.30. Following the transaction, the director owned 27,880 shares in the company, valued at $196,832.80. The trade was a 15.73% 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 three months. 69.00% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on MCW. BTIG Research began coverage on shares of Mister Car Wash in a research report on Monday, June 30th. They issued a "neutral" rating for the company. The Goldman Sachs Group assumed coverage on shares of Mister Car Wash in a research note on Tuesday, June 3rd. They set a "sell" rating and a $6.25 price objective for the company. UBS Group reduced their price objective on shares of Mister Car Wash from $8.25 to $7.25 and set a "neutral" rating for the company in a research note on Thursday. 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 note on Thursday, April 24th. Finally, Wells Fargo & Company reduced their price objective on shares of Mister Car Wash from $9.00 to $8.00 and set an "overweight" rating for the company in a research note on Friday, July 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $8.00.

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.

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