Mister Car Wash, Inc. (NYSE:MCW) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 25.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,544,116 shares of the company's stock after buying an additional 912,944 shares during the period. The Manufacturers Life Insurance Company owned approximately 1.41% of Mister Car Wash worth $33,127,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bank of Montreal Can raised its stake in 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 acquiring an additional 2,649 shares during the period. New Age Alpha Advisors LLC bought a new position in shares of Mister Car Wash in the 4th quarter worth about $945,000. JPMorgan Chase & Co. boosted its stake in Mister Car Wash by 54.6% during the third quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company's stock worth $763,000 after acquiring an additional 41,390 shares in the last quarter. Barclays PLC increased its stake in shares of Mister Car Wash by 281.2% during the third quarter. Barclays PLC now owns 179,013 shares of the company's stock valued at $1,165,000 after purchasing an additional 132,051 shares in the last quarter. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Mister Car Wash in the 4th quarter worth approximately $698,000.

Analyst Ratings Changes

Several equities analysts have recently issued reports on MCW shares. Raymond James initiated coverage on Mister Car Wash in a research report on Thursday, March 13th. They issued an "outperform" rating and a $10.00 price target for the company. Stephens reduced their price target 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. UBS Group cut their target price on Mister Car Wash from $8.50 to $8.25 and set a "neutral" rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley upped their price target on Mister Car Wash from $8.00 to $9.00 and gave the company an "equal weight" rating in a report on Thursday, February 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Mister Car Wash has a consensus rating of "Hold" and an average price target of $8.46.

Mister Car Wash Price Performance

MCW stock traded up $0.12 during trading on Wednesday, reaching $7.65. The company's stock had a trading volume of 162,242 shares, compared to its average volume of 1,501,047. The company's fifty day moving average is $7.62 and its 200-day moving average is $7.56. Mister Car Wash, Inc. has a 1 year low of $5.84 and a 1 year high of $8.60. The company has a market capitalization of $2.48 billion, a P/E ratio of 34.75, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58. 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 announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, beating 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 company posted $0.08 earnings per share. The business's revenue was up 9.4% on a year-over-year basis. On average, research analysts expect that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Mister Car Wash news, insider Joseph Duane Matheny sold 36,452 shares of Mister Car Wash stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $8.01, for a total value of $291,980.52. Following the transaction, the insider now owns 84,895 shares in the company, valued at $680,008.95. The trade was a 30.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jedidiah Marc Gold sold 93,121 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $8.51, for a total transaction of $792,459.71. Following the completion of the sale, the chief financial officer now owns 55,437 shares of the company's stock, valued at approximately $471,768.87. This trade represents a 62.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 286,009 shares of company stock valued at $2,397,123 in the last quarter. 70.00% of the stock is currently owned by 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.