Mister Car Wash, Inc. $MCW Shares Acquired by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company increased its holdings in Mister Car Wash, Inc. by 6.5% during the first quarter, now owning approximately 1.49% of the company, worth $38.18 million.
• Several hedge funds have also increased their stakes in Mister Car Wash, with Dimensional Fund Advisors LP seeing a notable increase of 43.9% in the fourth quarter.
• Analyst ratings for Mister Car Wash vary, with six analysts giving a Buy rating, five a Hold, and one a Sell, leading to an average price target of $8.09 for the stock.

The Manufacturers Life Insurance Company lifted its position in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,839,088 shares of the company's stock after acquiring an additional 294,972 shares during the quarter. The Manufacturers Life Insurance Company owned 1.49% of Mister Car Wash worth $38,180,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. CWM LLC grew its position in shares of Mister Car Wash by 10.1% in the 1st quarter. CWM LLC now owns 18,976 shares of the company's stock worth $150,000 after acquiring an additional 1,748 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Mister Car Wash by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company's stock worth $392,000 after acquiring an additional 2,364 shares in the last quarter. MetLife Investment Management LLC grew its position in shares of Mister Car Wash by 5.9% in the 4th quarter. MetLife Investment Management LLC now owns 58,298 shares of the company's stock worth $425,000 after acquiring an additional 3,255 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Mister Car Wash by 1.3% in the 1st quarter. Invesco Ltd. now owns 315,576 shares of the company's stock worth $2,490,000 after purchasing an additional 3,983 shares during the last quarter. Finally, XTX Topco Ltd lifted its holdings in shares of Mister Car Wash by 11.8% in the 1st quarter. XTX Topco Ltd now owns 45,207 shares of the company's stock worth $357,000 after purchasing an additional 4,758 shares during the last quarter.

Mister Car Wash Stock Performance

Mister Car Wash stock traded up $0.02 during mid-day trading on Friday, hitting $5.66. 953,176 shares of the company's stock traded hands, compared to its average volume of 1,579,074. The firm has a 50 day moving average price of $6.08 and a 200 day moving average price of $6.90. 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 company has a market cap of $1.85 billion, a PE ratio of 25.73, a price-to-earnings-growth ratio of 1.65 and a beta of 1.48. Mister Car Wash, Inc. has a one year low of $5.27 and a one year high of $8.60.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business had revenue of $265.42 million for the quarter, compared to the consensus estimate of $271.83 million. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The firm's revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.11 EPS. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. On average, equities analysts forecast that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Analysts Set New Price Targets

MCW has been the topic of several recent research reports. UBS Group cut their price target on Mister Car Wash from $8.25 to $7.25 and set a "neutral" rating on the stock in a report on Thursday, July 31st. BTIG Research initiated coverage on Mister Car Wash in a report on Monday, June 30th. They issued a "neutral" rating on the stock. BMO Capital Markets cut their price target on Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. The Goldman Sachs Group initiated 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, Mizuho cut their price target on Mister Car Wash from $11.00 to $9.00 and set an "outperform" rating on the stock in a report on Monday, August 4th. Six research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.09.

Insider Activity

In other news, insider Joseph Duane Matheny sold 102,456 shares of Mister Car Wash stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $6.30, for a total transaction of $645,472.80. Following the transaction, the insider directly owned 88,196 shares in the company, valued at approximately $555,634.80. This trade represents a 53.74% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Jedidiah Marc Gold sold 6,357 shares of Mister Car Wash stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $6.13, for a total value of $38,968.41. Following the transaction, the chief financial officer owned 75,637 shares in the company, valued at approximately $463,654.81. This trade represents a 7.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 144,836 shares of company stock worth $905,262. 69.00% of the stock is owned by company 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.