Summit Creek Advisors LLC Trims Stake in Mister Car Wash, Inc. (NYSE:MCW)

Summit Creek Advisors LLC reduced its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 746,523 shares of the company’s stock after selling 6,867 shares during the period. Summit Creek Advisors LLC owned approximately 0.23% of Mister Car Wash worth $5,442,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Swiss National Bank grew its position in shares of Mister Car Wash by 1.4% during the 4th quarter. Swiss National Bank now owns 189,800 shares of the company’s stock valued at $1,384,000 after purchasing an additional 2,600 shares in the last quarter. Handelsbanken Fonder AB grew its position in shares of Mister Car Wash by 9.3% during the 4th quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock valued at $343,000 after purchasing an additional 4,000 shares in the last quarter. Blue Trust Inc. grew its position in shares of Mister Car Wash by 59.4% during the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock valued at $98,000 after purchasing an additional 5,032 shares in the last quarter. Arkadios Wealth Advisors grew its position in shares of Mister Car Wash by 13.3% during the 4th quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock valued at $355,000 after purchasing an additional 5,702 shares in the last quarter. Finally, Victory Capital Management Inc. grew its position in shares of Mister Car Wash by 19.5% during the 3rd quarter. Victory Capital Management Inc. now owns 63,576 shares of the company’s stock valued at $414,000 after purchasing an additional 10,377 shares in the last quarter.

Analysts Set New Price Targets

Several brokerages recently issued reports on MCW. Morgan Stanley upped their target price on shares of Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 20th. 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 research report on Monday, January 6th. Stephens began coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 target price for the company. UBS Group upped their target price on shares of Mister Car Wash from $8.00 to $8.50 and gave the stock a “neutral” rating in a research report on Thursday, February 20th. Finally, Raymond James began coverage on shares of Mister Car Wash in a research report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $8.43.

Mister Car Wash Stock Performance

NYSE MCW opened at $8.10 on Monday. The company has a 50-day simple moving average of $7.75 and a two-hundred day simple moving average of $7.35. The company has a quick ratio of 0.24, a current ratio of 0.53 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 $8.56. The firm has a market cap of $2.62 billion, a price-to-earnings ratio of 36.82, a PEG ratio of 1.65 and a beta of 1.60.

Insider Buying and Selling at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 6,410 shares of the company’s stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.01, for a total transaction of $51,344.10. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $650,460.06. This represents a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 42,278 shares of the company’s stock in a transaction dated Friday, February 28th. The shares were sold at an average price of $8.50, for a total transaction of $359,363.00. Following the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at approximately $381,259. This trade represents a 48.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 307,324 shares of company stock worth $2,543,804 over the last three months. Company insiders own 70.00% of the company’s stock.

Mister Car Wash 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.