MetLife Investment Management LLC Boosts Stake in Mister Car Wash, Inc. (NYSE:MCW)

MetLife Investment Management LLC lifted its holdings in Mister Car Wash, Inc. (NYSE:MCW) by 129.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,043 shares of the company’s stock after buying an additional 31,014 shares during the quarter. MetLife Investment Management LLC’s holdings in Mister Car Wash were worth $358,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of the business. AQR Capital Management LLC raised its position in Mister Car Wash by 763.2% during the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock worth $29,155,000 after acquiring an additional 3,640,862 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in Mister Car Wash by 6,003.1% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock valued at $23,639,000 after buying an additional 3,571,675 shares in the last quarter. Brown Brothers Harriman & Co. increased its position in Mister Car Wash by 41.1% during the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after buying an additional 731,366 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of Mister Car Wash by 64.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock worth $9,752,000 after acquiring an additional 535,873 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Mister Car Wash by 23.6% in the second quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock valued at $5,428,000 after acquiring an additional 145,374 shares in the last quarter.

Mister Car Wash Price Performance

MCW stock opened at $7.80 on Monday. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $9.45. The stock’s fifty day simple moving average is $7.28 and its 200-day simple moving average is $6.99. The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 33.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.61.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.07 by $0.02. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The business had revenue of $249.33 million for the quarter, compared to analysts’ expectations of $249.15 million. During the same quarter last year, the firm earned $0.06 earnings per share. The business’s revenue was up 6.5% on a year-over-year basis. Equities research analysts expect that Mister Car Wash, Inc. will post 0.29 EPS for the current year.

Insider Buying and Selling

In related news, CFO Jedidiah Marc Gold sold 144,319 shares of the stock in a transaction on Thursday, October 31st. The stock was sold at an average price of $7.54, for a total value of $1,088,165.26. Following the transaction, the chief financial officer now directly owns 44,854 shares of the company’s stock, valued at approximately $338,199.16. This trade represents a 76.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Joseph Duane Matheny sold 14,600 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $7.97, for a total value of $116,362.00. Following the completion of the transaction, the insider now directly owns 81,206 shares in the company, valued at $647,211.82. This trade represents a 15.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 613,896 shares of company stock valued at $4,957,139. 70.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, UBS Group lifted their price objective on Mister Car Wash from $7.50 to $8.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.25.

Mister Car Wash Company 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.