Northern Trust Corp Sells 12,068 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Northern Trust Corp decreased its holdings in shares of Mister Car Wash, Inc. (NYSE:MCW) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 977,064 shares of the company’s stock after selling 12,068 shares during the quarter. Northern Trust Corp owned about 0.30% of Mister Car Wash worth $7,123,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in MCW. Quarry LP purchased a new position in shares of Mister Car Wash in the fourth quarter valued at $79,000. Forum Financial Management LP bought a new stake in shares of Mister Car Wash during the fourth quarter valued at about $81,000. Blue Trust Inc. lifted its holdings in shares of Mister Car Wash by 59.4% in the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after buying an additional 5,032 shares in the last quarter. LPL Financial LLC bought a new position in shares of Mister Car Wash in the fourth quarter valued at approximately $102,000. Finally, Bank of Montreal Can increased its holdings in Mister Car Wash by 22.6% during the 4th quarter. Bank of Montreal Can now owns 14,380 shares of the company’s stock worth $105,000 after acquiring an additional 2,649 shares during the period.

Mister Car Wash Stock Down 2.4%

MCW opened at $7.59 on Tuesday. The firm’s 50 day simple moving average is $7.55 and its two-hundred day simple moving average is $7.63. The company has a market capitalization of $2.47 billion, a PE ratio of 34.50, a PEG ratio of 1.65 and a beta of 1.58. Mister Car Wash, Inc. has a 1-year low of $5.84 and a 1-year 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.

Mister Car Wash (NYSE:MCW) last announced its earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $0.08 EPS. As a group, equities analysts forecast that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on MCW. UBS Group decreased their price objective on shares of Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research report on Thursday, May 1st. Raymond James started coverage on shares of Mister Car Wash in a research note on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price target for the company. Morgan Stanley raised their price objective on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. Finally, Stephens cut their target price on shares of Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $8.46.

Insider Transactions at Mister Car Wash

In other news, CEO John Lo-Minn Lai sold 22,039 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the transaction, the chief executive officer now directly owns 4,479,420 shares in the company, valued at approximately $37,806,304.80. This represents a 0.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Joseph Duane Matheny sold 9,000 shares of the firm’s stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $7.97, for a total transaction of $71,730.00. Following the completion of the transaction, the insider now directly owns 84,895 shares of the company’s stock, valued at approximately $676,613.15. This trade represents a 9.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 288,599 shares of company stock valued at $2,417,509 over the last three months. Corporate insiders own 69.00% of the company’s stock.

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.