Mister Car Wash, Inc. (NYSE:MCW) Shares Purchased by Principal Financial Group Inc.

Principal Financial Group Inc. grew its stake in shares of Mister Car Wash, Inc. (NYSE:MCW) by 2.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 466,540 shares of the company’s stock after acquiring an additional 10,404 shares during the quarter. Principal Financial Group Inc. owned about 0.14% of Mister Car Wash worth $3,681,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP purchased a new position in shares of Mister Car Wash during the 4th quarter valued at approximately $77,000. Quarry LP acquired a new stake in Mister Car Wash in the fourth quarter worth $79,000. Forum Financial Management LP acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $81,000. BNP Paribas Financial Markets acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $96,000. Finally, LPL Financial LLC acquired a new position in shares of Mister Car Wash during the fourth quarter valued at $102,000.

Insiders Place Their Bets

In other news, insider Joseph Duane Matheny sold 102,456 shares of the stock in a transaction on Monday, June 23rd. The stock was sold at an average price of $6.30, for a total transaction of $645,472.80. Following the transaction, the insider directly owned 88,196 shares of the company’s stock, valued at $555,634.80. This represents a 53.74% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO John Lo-Minn Lai sold 41,997 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $6.69, for a total value of $280,959.93. Following the completion of the sale, the chief executive officer owned 4,532,254 shares of the company’s stock, valued at $30,320,779.26. The trade was a 0.92% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 266,355 shares of company stock worth $1,733,596 in the last three months. Corporate insiders own 69.00% of the company’s stock.

Mister Car Wash Price Performance

Shares of NYSE MCW opened at $6.49 on Friday. The stock has a market cap of $2.11 billion, a PE ratio of 29.50, a price-to-earnings-growth ratio of 1.65 and a beta of 1.49. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $8.60. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. The stock has a fifty day moving average of $6.72 and a 200-day moving average of $7.28.

Mister Car Wash (NYSE:MCW) last issued 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%. During the same quarter last year, the company earned $0.08 earnings per share. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

MCW has been the subject of a number of recent analyst reports. BTIG Research initiated coverage on Mister Car Wash in a research report on Monday, June 30th. They issued a “neutral” rating for the company. Stephens cut their price target on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating for the company in a report on Thursday, April 24th. The Goldman Sachs Group initiated coverage on Mister Car Wash in a research note on Tuesday, June 3rd. They issued a “sell” rating and a $6.25 target price for the company. Finally, UBS Group dropped their price objective on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating for the company in a research note on Thursday, May 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $8.50.

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.