Zurcher Kantonalbank Zurich Cantonalbank Boosts Stake in Mister Car Wash, Inc. (NYSE:MCW)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 33.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 22,405 shares of the company’s stock after purchasing an additional 5,610 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Mister Car Wash were worth $194,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the business. SG Americas Securities LLC purchased a new stake in Mister Car Wash during the third quarter worth $73,000. State of Alaska Department of Revenue lifted its position in shares of Mister Car Wash by 6.9% in the third quarter. State of Alaska Department of Revenue now owns 56,424 shares of the company’s stock valued at $310,000 after acquiring an additional 3,645 shares in the last quarter. Maryland State Retirement & Pension System lifted its position in shares of Mister Car Wash by 6.2% in the third quarter. Maryland State Retirement & Pension System now owns 36,509 shares of the company’s stock valued at $201,000 after acquiring an additional 2,128 shares in the last quarter. Raymond James & Associates lifted its position in shares of Mister Car Wash by 41.8% in the third quarter. Raymond James & Associates now owns 291,961 shares of the company’s stock valued at $1,609,000 after acquiring an additional 86,023 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Mister Car Wash by 1.6% in the third quarter. Bank of New York Mellon Corp now owns 633,728 shares of the company’s stock valued at $3,492,000 after acquiring an additional 10,022 shares in the last quarter.

Insider Activity

In other news, COO Mayra Idali Chimienti sold 35,000 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $7.05, for a total value of $246,750.00. Following the completion of the sale, the chief operating officer now owns 270,523 shares in the company, valued at $1,907,187.15. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Joseph Duane Matheny sold 37,152 shares of the stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $8.93, for a total value of $331,767.36. Following the completion of the sale, the insider now owns 75,515 shares in the company, valued at $674,348.95. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Mayra Idali Chimienti sold 35,000 shares of Mister Car Wash stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $7.05, for a total value of $246,750.00. Following the sale, the chief operating officer now owns 270,523 shares in the company, valued at $1,907,187.15. The disclosure for this sale can be found here. Over the last quarter, insiders sold 104,161 shares of company stock worth $824,667. 70.00% of the stock is currently owned by corporate insiders.

Mister Car Wash Stock Performance

Shares of NYSE:MCW opened at $7.76 on Wednesday. The firm has a market capitalization of $2.46 billion, a PE ratio of 34.30, a P/E/G ratio of 1.38 and a beta of 1.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.30 and a quick ratio of 0.26. The business has a 50-day moving average of $7.28 and a two-hundred day moving average of $7.62. Mister Car Wash, Inc. has a 12 month low of $4.80 and a 12 month high of $10.07.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings results on Wednesday, February 21st. The company reported $0.05 EPS for the quarter, missing the consensus estimate of $0.06 by ($0.01). Mister Car Wash had a return on equity of 9.38% and a net margin of 8.04%. The firm had revenue of $230.14 million for the quarter, compared to analyst estimates of $230.89 million. As a group, research analysts forecast that Mister Car Wash, Inc. will post 0.27 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently issued reports on MCW shares. Mizuho started coverage on Mister Car Wash in a research report on Tuesday, March 19th. They issued a “buy” rating and a $11.00 price objective on the stock. Robert W. Baird upped their price objective on Mister Car Wash from $10.00 to $12.00 and gave the company an “outperform” rating in a research report on Thursday, February 15th. JPMorgan Chase & Co. upgraded Mister Car Wash from a “neutral” rating to an “overweight” rating and set a $8.50 target price for the company in a research note on Friday, May 3rd. Finally, Wells Fargo & Company dropped their target price on Mister Car Wash from $11.00 to $10.00 and set an “overweight” rating for the company in a research note on Monday, April 22nd. One analyst has rated the stock with a sell rating, one has issued a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $9.56.

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.