Maryland State Retirement & Pension System Lowers Position in Mister Car Wash, Inc. $MCW

Maryland State Retirement & Pension System trimmed its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 15.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,271 shares of the company’s stock after selling 5,035 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Mister Car Wash were worth $215,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in MCW. Charles Schwab Investment Management Inc. acquired a new stake in Mister Car Wash during the first quarter valued at $6,863,000. Vanguard Group Inc. boosted its stake in shares of Mister Car Wash by 0.4% during the 1st quarter. Vanguard Group Inc. now owns 10,686,795 shares of the company’s stock worth $84,319,000 after acquiring an additional 40,236 shares in the last quarter. Blueshift Asset Management LLC grew its position in shares of Mister Car Wash by 137.4% during the 1st quarter. Blueshift Asset Management LLC now owns 59,942 shares of the company’s stock valued at $473,000 after acquiring an additional 34,695 shares during the period. Natixis Advisors LLC acquired a new stake in Mister Car Wash in the first quarter valued at approximately $310,000. Finally, Arkadios Wealth Advisors grew its holdings in Mister Car Wash by 160.4% in the first quarter. Arkadios Wealth Advisors now owns 126,664 shares of the company’s stock valued at $999,000 after purchasing an additional 78,024 shares during the period.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on MCW. Stephens decreased their target price on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Piper Sandler reduced their price objective on shares of Mister Car Wash from $11.00 to $8.00 and set an “overweight” rating for the company in a research report on Thursday, July 31st. Wells Fargo & Company dropped their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an “overweight” rating on the stock in a research report on Friday, July 18th. Guggenheim set a $8.00 target price on shares of Mister Car Wash and gave the stock a “buy” rating in a research note on Monday, August 4th. Finally, BMO Capital Markets decreased their price target on shares of Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, August 1st. Six equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Mister Car Wash currently has an average rating of “Hold” and a consensus target price of $8.09.

Mister Car Wash Stock Up 0.7%

Shares of NYSE:MCW opened at $5.82 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92. Mister Car Wash, Inc. has a 52-week low of $5.27 and a 52-week high of $8.60. The business has a fifty day moving average of $6.21 and a two-hundred day moving average of $7.07. The stock has a market cap of $1.90 billion, a P/E ratio of 26.46, a PEG ratio of 1.65 and a beta of 1.48.

Mister Car Wash (NYSE:MCW) last posted its earnings results on Wednesday, July 30th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%.The business had revenue of $265.42 million for the quarter, compared to analyst estimates of $271.83 million. During the same period last year, the business earned $0.11 EPS. Mister Car Wash’s revenue was up 4.1% compared to the same quarter last year. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. On average, research analysts expect that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 102,456 shares of the company’s stock in a transaction that occurred on Monday, June 23rd. The shares were sold at an average price of $6.30, for a total value of $645,472.80. Following the transaction, the insider directly owned 88,196 shares in the company, valued at approximately $555,634.80. This represents a 53.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO John Lo-Minn Lai sold 33,904 shares of Mister Car Wash stock in a transaction that occurred on Thursday, June 26th. The shares were sold at an average price of $6.13, for a total transaction of $207,831.52. Following the completion of the sale, the chief executive officer owned 4,578,350 shares of the company’s stock, valued at $28,065,285.50. This trade represents a 0.74% decrease in their position. The disclosure for this sale can be found here. Insiders sold 257,355 shares of company stock worth $1,661,866 in the last 90 days. Insiders own 69.00% of the company’s stock.

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.