Mister Car Wash, Inc. (NYSE:MCW) Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp reduced its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 6.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 623,706 shares of the company’s stock after selling 43,793 shares during the period. Bank of New York Mellon Corp owned 0.20% of Mister Car Wash worth $6,019,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Point72 Hong Kong Ltd purchased a new position in Mister Car Wash in the second quarter worth approximately $30,000. Clear Street Markets LLC purchased a new stake in shares of Mister Car Wash in the 4th quarter worth about $36,000. MetLife Investment Management LLC acquired a new position in Mister Car Wash in the 1st quarter valued at about $63,000. KBC Group NV acquired a new position in Mister Car Wash in the 2nd quarter valued at about $46,000. Finally, Ensign Peak Advisors Inc acquired a new position in shares of Mister Car Wash during the 3rd quarter valued at about $45,000.

Mister Car Wash Stock Performance

MCW opened at $7.44 on Tuesday. Mister Car Wash, Inc. has a 12-month low of $4.80 and a 12-month high of $10.79. The stock has a market cap of $2.34 billion, a price-to-earnings ratio of 29.76, a PEG ratio of 4.39 and a beta of 1.30. The business has a 50 day moving average of $5.86 and a 200-day moving average of $7.52. The company has a quick ratio of 0.55, a current ratio of 0.60 and a debt-to-equity ratio of 1.02.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on MCW shares. Guggenheim reissued a “buy” rating and set a $11.00 price target on shares of Mister Car Wash in a research report on Friday, September 22nd. The Goldman Sachs Group dropped their target price on Mister Car Wash from $7.00 to $5.00 and set a “sell” rating on the stock in a research report on Friday, October 20th. Morgan Stanley dropped their target price on Mister Car Wash from $10.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Monday, September 11th. Robert W. Baird raised Mister Car Wash from a “neutral” rating to an “outperform” rating and set a $10.00 target price on the stock in a research report on Friday, October 13th. Finally, William Blair started coverage on Mister Car Wash in a research note on Friday, September 8th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Mister Car Wash currently has a consensus rating of “Moderate Buy” and a consensus price target of $9.43.

Insider Buying and Selling

In other news, CEO John Lo-Minn Lai sold 198,200 shares of Mister Car Wash stock in a transaction on Monday, September 18th. The stock was sold at an average price of $6.01, for a total value of $1,191,182.00. Following the transaction, the chief executive officer now owns 2,564,226 shares in the company, valued at approximately $15,410,998.26. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 71.20% of the stock is currently owned by insiders.

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.