Bank of America Corp DE Sells 887,016 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Bank of America Corp DE cut its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 74.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 301,074 shares of the company’s stock after selling 887,016 shares during the period. Bank of America Corp DE owned about 0.09% of Mister Car Wash worth $2,195,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of MCW. Blue Trust Inc. increased its position in shares of Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock valued at $98,000 after purchasing an additional 5,032 shares during the period. Bleakley Financial Group LLC grew its position in Mister Car Wash by 74.0% in the fourth quarter. Bleakley Financial Group LLC now owns 66,666 shares of the company’s stock valued at $486,000 after acquiring an additional 28,358 shares during the period. Legato Capital Management LLC bought a new stake in Mister Car Wash in the fourth quarter valued at $692,000. Principal Financial Group Inc. grew its position in Mister Car Wash by 3.2% in the fourth quarter. Principal Financial Group Inc. now owns 456,136 shares of the company’s stock valued at $3,325,000 after acquiring an additional 14,205 shares during the period. Finally, New York State Common Retirement Fund grew its position in Mister Car Wash by 419.9% in the fourth quarter. New York State Common Retirement Fund now owns 132,826 shares of the company’s stock valued at $968,000 after acquiring an additional 107,280 shares during the period.

Insider Buying and Selling at Mister Car Wash

In other Mister Car Wash news, Director Jodi Taylor sold 5,205 shares of the firm’s stock in a transaction that occurred on Thursday, May 22nd. The stock was sold at an average price of $7.06, for a total value of $36,747.30. Following the completion of the transaction, the director now directly owns 36,932 shares in the company, valued at $260,739.92. This trade represents a 12.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Duane Matheny sold 36,452 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $8.01, for a total value of $291,980.52. Following the completion of the transaction, the insider now owns 84,895 shares of the company’s stock, valued at approximately $680,008.95. This represents a 30.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,451 shares of company stock worth $893,453 over the last ninety days. 69.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have commented on MCW. Stephens reduced their price objective on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. Morgan Stanley boosted their price objective on Mister Car Wash from $8.00 to $9.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 20th. UBS Group reduced their price objective on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Finally, Raymond James began coverage on Mister Car Wash in a research note on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price objective on the stock. One equities research 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’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $8.46.

Mister Car Wash Stock Down 5.2%

Shares of Mister Car Wash stock opened at $6.71 on Tuesday. Mister Car Wash, Inc. has a 1 year low of $5.84 and a 1 year high of $8.60. The business has a 50-day moving average of $7.34 and a two-hundred day moving average of $7.56. The company has a market capitalization of $2.18 billion, a P/E ratio of 30.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $0.08 earnings per share. As a group, equities analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

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.