Legato Capital Management LLC Acquires Shares of 94,888 Mister Car Wash, Inc. (NYSE:MCW)

Legato Capital Management LLC acquired a new stake in shares of Mister Car Wash, Inc. (NYSE:MCW) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 94,888 shares of the company’s stock, valued at approximately $692,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company grew its holdings in Mister Car Wash by 6,003.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after buying an additional 3,571,675 shares in the last quarter. State Street Corp grew its holdings in shares of Mister Car Wash by 1.9% in the third quarter. State Street Corp now owns 3,375,939 shares of the company’s stock valued at $21,977,000 after purchasing an additional 63,631 shares in the last quarter. Brown Brothers Harriman & Co. grew its holdings in shares of Mister Car Wash by 41.1% in the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock valued at $16,349,000 after purchasing an additional 731,366 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Mister Car Wash by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company’s stock valued at $13,775,000 after purchasing an additional 38,365 shares in the last quarter. Finally, Verition Fund Management LLC grew its holdings in shares of Mister Car Wash by 200.9% in the third quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock valued at $3,349,000 after purchasing an additional 343,512 shares in the last quarter.

Insider Buying and Selling

In other news, insider Joseph Duane Matheny sold 74,304 shares of Mister Car Wash stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total transaction of $598,147.20. Following the completion of the sale, the insider now directly owns 81,206 shares in the company, valued at approximately $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 70.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on MCW shares. UBS Group raised their target price on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Stephens started coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price for the company. Morgan Stanley cut their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, January 21st. Finally, Wells Fargo & Company cut their target price 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. One analyst has rated the stock with a sell rating, three have given a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $8.81.

Mister Car Wash Stock Up 4.2 %

Shares of MCW opened at $7.94 on Friday. The company has a market cap of $2.56 billion, a PE ratio of 34.52, a P/E/G ratio of 1.75 and a beta of 1.63. The business has a fifty day moving average of $7.45 and a 200 day moving average of $7.13. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $9.45. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96.

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.