Verition Fund Management LLC grew its holdings in Mister Car Wash, Inc. (NYSE:MCW – Get Rating) by 2,343.2% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 494,413 shares of the company's stock after buying an additional 474,177 shares during the quarter. Verition Fund Management LLC owned approximately 0.16% of Mister Car Wash worth $5,379,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Point72 Hong Kong Ltd bought a new position in Mister Car Wash in the second quarter valued at about $30,000. MetLife Investment Management LLC bought a new position in Mister Car Wash in the first quarter valued at about $63,000. Quantbot Technologies LP bought a new position in Mister Car Wash in the first quarter valued at about $87,000. Captrust Financial Advisors boosted its holdings in Mister Car Wash by 19,305.7% in the first quarter. Captrust Financial Advisors now owns 6,792 shares of the company's stock valued at $100,000 after acquiring an additional 6,757 shares during the last quarter. Finally, UBS Group AG boosted its holdings in Mister Car Wash by 65.9% in the first quarter. UBS Group AG now owns 6,800 shares of the company's stock valued at $101,000 after acquiring an additional 2,700 shares during the last quarter.
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Insider Activity
In other news, VP Casey Penn Lindsay sold 142,127 shares of Mister Car Wash stock in a transaction dated Friday, October 14th. The stock was sold at an average price of $8.73, for a total transaction of $1,240,768.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, COO Mayra Idali Chimienti sold 20,000 shares of Mister Car Wash stock in a transaction that occurred on Wednesday, December 7th. The stock was sold at an average price of $9.54, for a total value of $190,800.00. Following the sale, the chief operating officer now owns 281,540 shares of the company's stock, valued at approximately $2,685,891.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Casey Penn Lindsay sold 142,127 shares of Mister Car Wash stock in a transaction that occurred on Friday, October 14th. The shares were sold at an average price of $8.73, for a total value of $1,240,768.71. The disclosure for this sale can be found here. Insiders have sold 199,105 shares of company stock worth $1,764,371 in the last 90 days. Corporate insiders own 71.90% of the company's stock.
Analyst Upgrades and Downgrades
MCW has been the topic of several recent research reports. UBS Group decreased their price target on Mister Car Wash to $11.00 in a report on Wednesday, November 16th. Stifel Nicolaus cut Mister Car Wash from a "buy" rating to a "hold" rating and reduced their target price for the stock from $17.00 to $10.00 in a report on Friday, October 21st. Robert W. Baird initiated coverage on Mister Car Wash in a report on Monday, October 3rd. They set a "neutral" rating and a $10.00 target price on the stock. Finally, MKM Partners initiated coverage on Mister Car Wash in a report on Tuesday, October 4th. They set a "neutral" rating and a $9.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and an average price target of $11.50.
Mister Car Wash Price Performance
Shares of MCW opened at $9.89 on Thursday. Mister Car Wash, Inc. has a 1 year low of $7.80 and a 1 year high of $19.10. The company has a current ratio of 0.79, a quick ratio of 0.73 and a debt-to-equity ratio of 1.15. The stock has a market cap of $3.01 billion, a P/E ratio of 24.73, a price-to-earnings-growth ratio of 2.28 and a beta of 0.94. The stock's 50-day moving average price is $9.31 and its two-hundred day moving average price is $10.37.
Mister Car Wash (NYSE:MCW – Get Rating) last released its quarterly earnings data on Thursday, November 10th. The company reported $0.08 earnings per share for the quarter, meeting the consensus estimate of $0.08. Mister Car Wash had a return on equity of 16.69% and a net margin of 15.40%. The business had revenue of $217.58 million for the quarter, compared to analysts' expectations of $215.68 million. On average, equities analysts predict that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.
Mister Car Wash Company Profile
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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. As of June 16, 2022, it operated 407 car wash locations in 21 states. 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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