Mister Car Wash (NYSE:MCW) Hits New 12-Month Low After Insider Selling

Mister Car Wash, Inc. (NYSE:MCW) shares reached a new 52-week low during trading on Monday following insider selling activity. The company traded as low as $6.36 and last traded at $6.39, with a volume of 89755 shares. The stock had previously closed at $6.49.

Specifically, CEO John Lo-Minn Lai sold 198,200 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $9.74, for a total transaction of $1,930,468.00. Following the transaction, the chief executive officer now owns 2,564,226 shares in the company, valued at approximately $24,975,561.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Mister Car Wash news, COO Mayra Idali Chimienti sold 125,000 shares of the business’s stock in a transaction that occurred on Wednesday, June 14th. The stock was sold at an average price of $8.82, for a total transaction of $1,102,500.00. Following the transaction, the chief operating officer now owns 263,774 shares in the company, valued at approximately $2,326,486.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John Lo-Minn Lai sold 198,200 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $9.74, for a total value of $1,930,468.00. Following the transaction, the chief executive officer now owns 2,564,226 shares in the company, valued at approximately $24,975,561.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,233,409 shares of company stock worth $10,117,122. Company insiders own 71.20% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Guggenheim assumed coverage on Mister Car Wash in a report on Thursday, June 29th. They issued a “buy” rating and a $11.00 price target on the stock. William Blair assumed coverage on Mister Car Wash in a report on Friday. They issued an “outperform” rating on the stock. Morgan Stanley lowered their price target on Mister Car Wash from $10.00 to $7.00 and set an “equal weight” rating on the stock in a report on Monday. Finally, Piper Sandler upgraded Mister Car Wash from a “neutral” rating to an “overweight” rating and upped their price target for the stock from $9.00 to $12.00 in a report on Monday, August 28th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Mister Car Wash has an average rating of “Hold” and an average price target of $10.00.

Mister Car Wash Trading Down 1.8 %

The business has a fifty day simple moving average of $8.21 and a 200 day simple moving average of $8.52. The stock has a market cap of $1.99 billion, a price-to-earnings ratio of 24.54, a PEG ratio of 4.62 and a beta of 1.21. The company has a debt-to-equity ratio of 1.05, a quick ratio of 0.93 and a current ratio of 0.97.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Thursday, August 3rd. The company reported $0.07 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.01). The company had revenue of $236.89 million for the quarter, compared to analyst estimates of $240.54 million. Mister Car Wash had a net margin of 10.06% and a return on equity of 11.61%. As a group, equities analysts anticipate that Mister Car Wash, Inc. will post 0.26 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in MCW. JPMorgan Chase & Co. lifted its stake in shares of Mister Car Wash by 25.7% during the 1st quarter. JPMorgan Chase & Co. now owns 22,357 shares of the company’s stock worth $331,000 after purchasing an additional 4,571 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Mister Car Wash by 16.4% during the 1st quarter. Bank of New York Mellon Corp now owns 184,107 shares of the company’s stock worth $2,723,000 after purchasing an additional 25,960 shares during the period. Citigroup Inc. raised its position in shares of Mister Car Wash by 19.9% in the 1st quarter. Citigroup Inc. now owns 15,536 shares of the company’s stock worth $229,000 after buying an additional 2,583 shares during the period. Bank of Montreal Can purchased a new position in shares of Mister Car Wash in the 1st quarter worth $165,000. Finally, MetLife Investment Management LLC purchased a new position in shares of Mister Car Wash in the 1st quarter worth $63,000.

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 was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021. Mister Car Wash, Inc was founded in 1969 and is headquartered in Tucson, Arizona.