Mister Car Wash (NYSE:MCW) Shares Gap Down After Insider Selling

Mister Car Wash, Inc. (NYSE:MCW) shares gapped down before the market opened on Tuesday following insider selling activity. The stock had previously closed at $6.71, but opened at $6.57. Mister Car Wash shares last traded at $6.45, with a volume of 684,227 shares traded.

Specifically, CFO Jedidiah Marc Gold sold 9,187 shares of Mister Car Wash stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $61,461.03. Following the sale, the chief financial officer now directly owns 66,994 shares in the company, valued at approximately $448,189.86. This trade represents a 12.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John Lo-Minn Lai sold 41,997 shares of Mister Car Wash stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total value of $280,959.93. Following the sale, the chief executive officer now owns 4,532,254 shares in the company, valued at $30,320,779.26. This represents a 0.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In other news, CEO John Lo-Minn Lai sold 41,997 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total transaction of $280,959.93. Following the transaction, the chief executive officer now directly owns 4,532,254 shares of the company’s stock, valued at $30,320,779.26. This represents a 0.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. The Goldman Sachs Group started coverage on Mister Car Wash in a research report on Tuesday. They issued a “sell” rating and a $6.25 price target for the company. Stephens decreased 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 began coverage on Mister Car Wash in a research report on Thursday, March 13th. They set an “outperform” rating and a $10.00 target price on the stock. UBS Group dropped their price target on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Morgan Stanley upped their target price on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $8.50.

Mister Car Wash Price Performance

The stock has a 50-day moving average price of $7.28 and a 200 day moving average price of $7.55. 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 firm has a market cap of $2.15 billion, a price-to-earnings ratio of 30.14, a PEG ratio of 1.65 and a beta of 1.56.

Mister Car Wash (NYSE:MCW) last released its earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping 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%. Mister Car Wash’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.08 EPS. As a group, equities research analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of MCW. Brown Advisory Inc. grew its stake in shares of Mister Car Wash by 6.8% during the first quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company’s stock valued at $104,870,000 after acquiring an additional 843,225 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Mister Car Wash by 0.4% during the first quarter. Vanguard Group Inc. now owns 10,686,795 shares of the company’s stock valued at $84,319,000 after acquiring an additional 40,236 shares during the period. FIL Ltd increased its stake in shares of Mister Car Wash by 2.4% during the fourth quarter. FIL Ltd now owns 9,915,100 shares of the company’s stock valued at $72,281,000 after acquiring an additional 230,100 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Mister Car Wash by 6.5% in the first quarter. The Manufacturers Life Insurance Company now owns 4,839,088 shares of the company’s stock valued at $38,180,000 after buying an additional 294,972 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in 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 purchasing an additional 912,944 shares in 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.