FIL Ltd Increases Holdings in Mister Car Wash, Inc. (NYSE:MCW)

FIL Ltd raised its holdings in shares of Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 2.4% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,915,100 shares of the company's stock after purchasing an additional 230,100 shares during the period. FIL Ltd owned 3.08% of Mister Car Wash worth $72,281,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. State Street Corp boosted its holdings in Mister Car Wash by 1.9% in the third quarter. State Street Corp now owns 3,375,939 shares of the company's stock worth $21,977,000 after purchasing an additional 63,631 shares during the last quarter. Brown Brothers Harriman & Co. increased its holdings in Mister Car Wash by 5.1% during the fourth quarter. Brown Brothers Harriman & Co. now owns 2,639,121 shares of the company's stock valued at $19,239,000 after buying an additional 127,791 shares during the last quarter. Geode Capital Management LLC raised its position in Mister Car Wash by 1.8% in the third quarter. Geode Capital Management LLC now owns 2,115,526 shares of the company's stock worth $13,775,000 after acquiring an additional 38,365 shares during the period. Bank of New York Mellon Corp grew its holdings in Mister Car Wash by 1.8% during the fourth quarter. Bank of New York Mellon Corp now owns 699,713 shares of the company's stock valued at $5,101,000 after purchasing an additional 12,174 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of Mister Car Wash by 3.2% during the 4th 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.

Remove Ads

Mister Car Wash Price Performance

Shares of Mister Car Wash stock remained flat at $7.25 during mid-day trading on Tuesday. The company's stock had a trading volume of 531,674 shares, compared to its average volume of 1,602,492. The stock has a market capitalization of $2.35 billion, a PE ratio of 32.96, a PEG ratio of 1.65 and a beta of 1.57. 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 fifty day moving average price of $7.78 and a 200-day moving average price of $7.49. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Wall Street Analyst Weigh In

MCW has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price target on Mister Car Wash from $10.00 to $9.00 and set an "overweight" rating on the stock in a report on Monday, January 6th. Morgan Stanley increased 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 report on Thursday, February 20th. UBS Group boosted their target price on Mister Car Wash from $8.00 to $8.50 and gave the stock a "neutral" rating in a research report on Thursday, February 20th. Raymond James assumed coverage on Mister Car Wash in a report on Thursday, March 13th. They set an "outperform" rating and a $10.00 price objective on the stock. Finally, Stephens assumed coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They issued an "equal weight" rating and a $8.00 price target on the stock. One analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $8.43.

Insider Activity

In other news, insider Joseph Duane Matheny sold 6,410 shares of the business's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.01, for a total transaction of $51,344.10. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company's stock, valued at approximately $650,460.06. The trade was a 7.32 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO John Lo-Minn Lai sold 22,039 shares of the stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.44, for a total value 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 $37,806,304.80. This trade represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 360,313 shares of company stock valued at $2,995,270 in the last 90 days. Company insiders own 70.00% 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.