Comerica Bank Cuts Position in Mister Car Wash, Inc. $MCW

Comerica Bank lessened its stake in Mister Car Wash, Inc. (NYSE:MCW) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,203 shares of the company’s stock after selling 6,013 shares during the quarter. Comerica Bank’s holdings in Mister Car Wash were worth $396,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in MCW. Charles Schwab Investment Management Inc. purchased a new position in shares of Mister Car Wash in the 1st quarter valued at about $6,863,000. Brown Advisory Inc. increased its holdings in shares of Mister Car Wash by 6.8% in the 1st quarter. Brown Advisory Inc. now owns 13,291,516 shares of the company’s stock valued at $104,870,000 after purchasing an additional 843,225 shares in the last quarter. Avory & Company LLC increased its holdings in shares of Mister Car Wash by 3,298.5% in the 1st quarter. Avory & Company LLC now owns 791,949 shares of the company’s stock valued at $6,248,000 after purchasing an additional 768,646 shares in the last quarter. Nicholas Investment Partners LP purchased a new position in Mister Car Wash during the 4th quarter valued at about $4,719,000. Finally, Millennium Management LLC increased its holdings in Mister Car Wash by 146.1% during the 4th quarter. Millennium Management LLC now owns 891,076 shares of the company’s stock valued at $6,496,000 after acquiring an additional 529,050 shares in the last quarter.

Analysts Set New Price Targets

Several research firms have weighed in on MCW. Piper Sandler dropped their target price on shares of Mister Car Wash from $11.00 to $8.00 and set an “overweight” rating for the company in a report on Thursday, July 31st. BMO Capital Markets dropped their target price on shares of Mister Car Wash from $11.00 to $9.00 and set an “outperform” rating for the company in a report on Friday, August 1st. BTIG Research began coverage on shares of Mister Car Wash in a report on Monday, June 30th. They set a “neutral” rating for the company. Morgan Stanley dropped their target price on shares of Mister Car Wash from $9.00 to $7.50 and set an “equal weight” rating for the company in a report on Thursday, July 31st. Finally, Guggenheim set a $8.00 target price on shares of Mister Car Wash and gave the company a “buy” rating in a report on Monday, August 4th. Six 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 company’s stock. Based on data from MarketBeat, Mister Car Wash has a consensus rating of “Hold” and an average target price of $8.09.

Insider Buying and Selling

In related news, insider Joseph Duane Matheny sold 102,456 shares of the firm’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 sale, the insider directly owned 88,196 shares of the company’s stock, valued at approximately $555,634.80. This trade represents a 53.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jedidiah Marc Gold sold 6,357 shares of the firm’s stock in a transaction that occurred on Thursday, June 26th. The stock was sold at an average price of $6.13, for a total transaction of $38,968.41. Following the completion of the sale, the chief financial officer directly owned 75,637 shares in the company, valued at $463,654.81. This represents a 7.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 144,836 shares of company stock valued at $905,262. Insiders own 69.00% of the company’s stock.

Mister Car Wash Price Performance

MCW opened at $5.50 on Tuesday. The company’s 50 day simple moving average is $6.06 and its 200 day simple moving average is $6.86. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. Mister Car Wash, Inc. has a 1 year low of $5.27 and a 1 year high of $8.60. The stock has a market capitalization of $1.80 billion, a PE ratio of 25.00, a P/E/G ratio of 1.65 and a beta of 1.48.

Mister Car Wash (NYSE:MCW) last released 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 company had revenue of $265.42 million during the quarter, compared to analyst estimates of $271.83 million. During the same period in the prior year, the business posted $0.11 earnings per share. Mister Car Wash’s revenue was up 4.1% on a year-over-year basis. Mister Car Wash has set its FY 2025 guidance at 0.420-0.430 EPS. As a group, sell-side analysts expect that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

About Mister Car Wash

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.