Insider Selling: Mister Car Wash, Inc. (NYSE:MCW) Insider Sells 30,742 Shares of Stock

Mister Car Wash, Inc. (NYSE:MCW) insider Joseph Duane Matheny sold 30,742 shares of the firm’s stock in a transaction dated Thursday, February 20th. The stock was sold at an average price of $8.07, for a total transaction of $248,087.94. Following the completion of the sale, the insider now owns 81,206 shares of the company’s stock, valued at $655,332.42. This trade represents a 27.46 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Joseph Duane Matheny also recently made the following trade(s):

• On Friday, February 14th, Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock. The stock was sold at an average price of $8.01, for a total transaction of $51,344.10.
• On Tuesday, January 28th, Joseph Duane Matheny sold 74,304 shares of Mister Car Wash stock. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20.

Mister Car Wash Price Performance

Shares of MCW opened at $7.56 on Thursday. The company has a market capitalization of $2.44 billion, a P/E ratio of 34.37, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. 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 firm has a 50 day moving average of $7.46 and a 200 day moving average of $7.17. Mister Car Wash, Inc. has a twelve month low of $5.84 and a twelve month high of $8.55.

Wall Street Analyst Weigh In

Several analysts have commented on MCW shares. Wells Fargo & Company lowered their price objective on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a report on Monday, January 6th. UBS Group raised their target price on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Morgan Stanley raised their target price on shares of 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, Stephens started coverage on shares of Mister Car Wash in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Mister Car Wash currently has a consensus rating of “Hold” and an average price target of $8.57.

Institutional Investors Weigh In On Mister Car Wash

Several institutional investors and hedge funds have recently made changes to their positions in MCW. The Manufacturers Life Insurance Company increased its position in shares of Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after acquiring an additional 3,571,675 shares in the last quarter. Divisadero Street Capital Management LP purchased a new stake in Mister Car Wash in the fourth quarter worth approximately $10,392,000. Marshall Wace LLP boosted its holdings in Mister Car Wash by 103.5% in the fourth quarter. Marshall Wace LLP now owns 2,152,718 shares of the company’s stock worth $15,693,000 after purchasing an additional 1,094,751 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Mister Car Wash by 43.9% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company’s stock worth $22,895,000 after purchasing an additional 958,479 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Mister Car Wash by 25.1% during the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock worth $33,127,000 after acquiring an additional 912,944 shares during the last quarter.

About Mister Car Wash

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.