Nicholas Investment Partners LP Purchases New Position in Mister Car Wash, Inc. (NYSE:MCW)

Nicholas Investment Partners LP acquired a new stake in Mister Car Wash, Inc. (NYSE:MCW) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 647,270 shares of the company’s stock, valued at approximately $4,719,000. Nicholas Investment Partners LP owned about 0.20% of Mister Car Wash at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Mister Car Wash by 4.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,791 shares of the company’s stock valued at $392,000 after buying an additional 2,364 shares during the last quarter. Swiss National Bank increased its position in Mister Car Wash by 1.4% in the 4th quarter. Swiss National Bank now owns 189,800 shares of the company’s stock valued at $1,384,000 after acquiring an additional 2,600 shares during the period. Bank of Montreal Can raised its stake in shares of Mister Car Wash by 22.6% during the fourth 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 last quarter. MetLife Investment Management LLC lifted its holdings in shares of Mister Car Wash by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 58,298 shares of the company’s stock worth $425,000 after purchasing an additional 3,255 shares during the period. Finally, Handelsbanken Fonder AB grew its stake in shares of Mister Car Wash by 9.3% in the fourth quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock worth $343,000 after purchasing an additional 4,000 shares during the last quarter.

Insider Transactions at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 36,452 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $8.01, for a total value of $291,980.52. Following the sale, the insider now directly owns 84,895 shares of the company’s stock, valued at approximately $680,008.95. This represents a 30.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Jedidiah Marc Gold sold 52,989 shares of the stock in a transaction on Tuesday, March 25th. The stock was sold at an average price of $8.52, for a total value of $451,466.28. Following the completion of the sale, the chief financial officer now owns 55,437 shares in the company, valued at $472,323.24. This trade represents a 48.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 286,009 shares of company stock worth $2,397,123 in the last ninety days. Company insiders own 69.00% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Stephens lowered their target price on 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. Raymond James initiated coverage on Mister Car Wash in a research report on Thursday, March 13th. They set an “outperform” rating and a $10.00 price objective for the company. Morgan Stanley increased 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 report on Thursday, February 20th. Finally, UBS Group dropped their price target on shares of Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $8.46.

Mister Car Wash Stock Performance

Shares of MCW stock opened at $7.88 on Wednesday. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92. Mister Car Wash, Inc. has a 12 month low of $5.84 and a 12 month high of $8.60. The firm has a market capitalization of $2.56 billion, a PE ratio of 35.82, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58. The firm has a fifty day simple moving average of $7.56 and a two-hundred day simple moving average of $7.61.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, beating the consensus estimate of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same quarter in the previous year, the firm posted $0.08 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Analysts forecast 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.