Mister Car Wash (NYSE:MCW) Shares Gap Down After Insider Selling

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report)'s share price gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $6.71, but opened at $6.57. Mister Car Wash shares last traded at $6.45, with a volume of 684,227 shares trading hands.

Specifically, CFO Jedidiah Marc Gold sold 9,187 shares of the firm's stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $6.69, for a total transaction of $61,461.03. Following the completion of the transaction, the chief financial officer now owns 66,994 shares in the company, valued at $448,189.86. This trade represents a 12.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO John Lo-Minn Lai sold 41,997 shares of the stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $280,959.93. Following the completion of the transaction, the chief executive officer now directly owns 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 ownership of the stock. The disclosure for this sale can be found here. In related news, CEO John Lo-Minn Lai sold 41,997 shares of the firm's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total transaction of $280,959.93. Following the completion of the transaction, the chief executive officer now owns 4,532,254 shares in the company, valued at $30,320,779.26. This trade represents a 0.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Analysts Set New Price Targets

Several research firms have issued reports on MCW. Stephens dropped their price objective 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. Raymond James started coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They set an "outperform" rating and a $10.00 target price for the company. UBS Group reduced their price target on shares of Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating on the stock in a research report on Thursday, May 1st. Morgan Stanley increased their target price on Mister Car Wash from $8.00 to $9.00 and gave the company an "equal weight" rating in a research note on Thursday, February 20th. Finally, The Goldman Sachs Group assumed coverage on Mister Car Wash in a report on Tuesday. They set a "sell" rating and a $6.25 target price on the stock. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $8.50.

Mister Car Wash Stock Performance

The firm has a market cap of $2.13 billion, a P/E ratio of 29.86, a PEG ratio of 1.65 and a beta of 1.56. 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's 50-day moving average is $7.25 and its 200 day moving average is $7.54.

Mister Car Wash (NYSE:MCW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same period in the prior year, the company earned $0.08 earnings per share. The firm's quarterly revenue was up 9.4% compared to the same quarter last year. On average, research analysts predict that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Institutional Trading of Mister Car Wash

Hedge funds have recently bought and sold shares of the stock. CWM LLC increased its position in shares of Mister Car Wash by 10.1% during the first 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. increased its holdings in Mister Car Wash by 4.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company's stock worth $392,000 after purchasing an additional 2,364 shares in the last quarter. Swiss National Bank increased its holdings in Mister Car Wash by 1.4% during the 4th quarter. Swiss National Bank now owns 189,800 shares of the company's stock worth $1,384,000 after purchasing an additional 2,600 shares in the last quarter. Bank of Montreal Can raised its stake in shares of Mister Car Wash by 22.6% in the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company's stock valued at $105,000 after purchasing an additional 2,649 shares during the period. Finally, MetLife Investment Management LLC raised its stake 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 valued at $425,000 after purchasing an additional 3,255 shares during the period.

Mister Car Wash Company 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.