AlphaQuest LLC Sells 113,894 Shares of Mister Car Wash, Inc. $MCW

AlphaQuest LLC reduced its position in Mister Car Wash, Inc. (NYSE:MCW) by 73.4% in the 1st quarter, Holdings Channel reports. The firm owned 41,316 shares of the company’s stock after selling 113,894 shares during the quarter. AlphaQuest LLC’s holdings in Mister Car Wash were worth $326,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of MCW. Divisadero Street Capital Management LP bought a new position in Mister Car Wash in the fourth quarter worth $10,392,000. Dimensional Fund Advisors LP lifted its position 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 period. The Manufacturers Life Insurance Company lifted its position in Mister Car Wash by 25.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company’s stock worth $33,127,000 after purchasing an additional 912,944 shares during the period. Charles Schwab Investment Management Inc. bought a new position in Mister Car Wash in the first quarter worth $6,863,000. Finally, Brown Advisory Inc. lifted its position in Mister Car Wash by 6.8% in the first quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company’s stock worth $104,870,000 after purchasing an additional 843,225 shares during the period.

Insiders Place Their Bets

In other news, CFO Jedidiah Marc Gold sold 6,357 shares of the firm’s stock in a transaction on Thursday, June 26th. The stock was sold at an average price of $6.13, for a total value of $38,968.41. Following the completion of the sale, the chief financial officer directly 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 sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO John Lo-Minn Lai sold 33,904 shares of the firm’s stock in a transaction on Thursday, June 26th. The shares were sold at an average price of $6.13, for a total value of $207,831.52. Following the completion of the sale, the chief executive officer owned 4,578,350 shares of the company’s stock, valued at approximately $28,065,285.50. This trade represents a 0.74% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 246,945 shares of company stock valued at $1,588,371. 69.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on MCW. Stifel Nicolaus reduced their target price on Mister Car Wash from $8.50 to $7.50 and set a “hold” rating for the company in a research report on Thursday, July 31st. Mizuho dropped their price objective on Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Monday, August 4th. The Goldman Sachs Group started coverage on Mister Car Wash in a research note on Tuesday, June 3rd. They set a “sell” rating and a $6.25 price objective for the company. BMO Capital Markets dropped their price objective on Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a research note on Friday, August 1st. Finally, UBS Group dropped their price objective on Mister Car Wash from $8.25 to $7.25 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $8.09.

Mister Car Wash Stock Performance

Mister Car Wash stock opened at $5.76 on Thursday. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24. The stock has a fifty day moving average price of $6.15 and a two-hundred day moving average price of $6.99. Mister Car Wash, Inc. has a 52-week low of $5.27 and a 52-week high of $8.60. The firm has a market capitalization of $1.89 billion, a P/E ratio of 26.18, a P/E/G ratio of 1.65 and a beta of 1.48.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.02). Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The business had revenue of $265.42 million during the quarter, compared to analyst estimates of $271.83 million. During the same quarter last year, the business posted $0.11 earnings per share. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. As a group, analysts anticipate that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal year.

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.