KLP Kapitalforvaltning AS Acquires Shares of 17,500 Mister Car Wash, Inc. (NYSE:MCW)

KLP Kapitalforvaltning AS bought a new position in Mister Car Wash, Inc. (NYSE:MCW) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 17,500 shares of the company’s stock, valued at approximately $128,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Blue Trust Inc. boosted its position in Mister Car Wash by 59.4% in the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after purchasing an additional 5,032 shares in the last quarter. US Bancorp DE boosted its holdings in Mister Car Wash by 2,317.4% during the fourth quarter. US Bancorp DE now owns 17,212 shares of the company’s stock worth $125,000 after buying an additional 16,500 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in Mister Car Wash during the third quarter valued at $198,000. Olympiad Research LP purchased a new position in Mister Car Wash in the fourth quarter valued at $264,000. Finally, Handelsbanken Fonder AB raised its position in shares of Mister Car Wash by 9.3% in the fourth quarter. Handelsbanken Fonder AB now owns 47,100 shares of the company’s stock worth $343,000 after acquiring an additional 4,000 shares during the period.

Insider Activity at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 6,410 shares of the stock in a transaction on Friday, February 14th. The stock was 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 in the company, valued at approximately $650,460.06. This represents a 7.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.44, for a total value of $186,009.16. Following the sale, the chief executive officer now directly owns 4,479,420 shares of the company’s stock, valued at $37,806,304.80. The trade was a 0.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 360,313 shares of company stock valued at $2,995,270. 70.00% of the stock is currently owned by insiders.

Mister Car Wash Stock Performance

MCW opened at $7.49 on Thursday. The firm has a market capitalization of $2.43 billion, a PE ratio of 34.05, a PEG ratio of 1.65 and a beta of 1.57. The firm’s 50-day moving average price is $7.83 and its 200 day moving average price is $7.48. Mister Car Wash, Inc. has a twelve month low of $5.84 and a twelve month high of $8.60. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Analysts Set New Price Targets

MCW has been the subject of several recent analyst reports. UBS Group lifted their price target on Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Stephens assumed coverage on Mister Car Wash in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 target price for the company. Wells Fargo & Company dropped their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating on the stock in a research note on Monday, January 6th. Morgan Stanley upped their price objective 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. 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 on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Mister Car Wash has an average rating of “Hold” and an average target price of $8.43.

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.