Mister Car Wash (NYSE:MCW) Reaches New 1-Year High - Here's What Happened

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) reached a new 52-week high on Monday . The company traded as high as $8.56 and last traded at $8.44, with a volume of 219820 shares. The stock had previously closed at $8.49.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wells Fargo & Company lowered their price objective on Mister Car Wash from $10.00 to $9.00 and set an "overweight" rating for the company in a research note on Monday, January 6th. UBS Group raised their price target on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a "neutral" rating in a research note on Thursday, February 20th. Stephens started coverage on shares of Mister Car Wash in a research note on Tuesday, January 14th. They issued an "equal weight" rating and a $8.00 price objective on the stock. Finally, Morgan Stanley raised their target price on Mister Car Wash from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research report on Thursday, February 20th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Mister Car Wash presently has a consensus rating of "Hold" and a consensus price target of $8.57.

Mister Car Wash Stock Performance

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 company has a market cap of $2.56 billion, a PE ratio of 35.96, a price-to-earnings-growth ratio of 1.65 and a beta of 1.63. The company's 50 day moving average price is $7.56 and its 200-day moving average price is $7.22.

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Insider Buying and Selling at Mister Car Wash

In other news, insider Joseph Duane Matheny sold 74,304 shares of the company's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total transaction of $598,147.20. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company's stock, valued at approximately $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Jedidiah Marc Gold sold 93,121 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.51, for a total value of $792,459.71. Following the completion of the sale, the chief financial officer now directly owns 55,437 shares in the company, valued at $471,768.87. The trade was a 62.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 270,272 shares of company stock worth $2,247,041 over the last ninety days. Insiders own 70.00% of the company's stock.

Institutional Trading of Mister Car Wash

Several large investors have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company boosted its stake in shares of Mister Car Wash by 6,003.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company's stock valued at $23,639,000 after purchasing an additional 3,571,675 shares in the last quarter. Divisadero Street Capital Management LP bought a new stake in Mister Car Wash during the 4th quarter valued at approximately $10,392,000. Marshall Wace LLP grew its holdings in shares of Mister Car Wash by 103.5% during the 4th quarter. Marshall Wace LLP now owns 2,152,718 shares of the company's stock worth $15,693,000 after acquiring an additional 1,094,751 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Mister Car Wash by 43.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,140,854 shares of the company's stock worth $22,895,000 after acquiring an additional 958,479 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in shares of Mister Car Wash by 25.1% in the 4th quarter. The Manufacturers Life Insurance Company now owns 4,544,116 shares of the company's stock valued at $33,127,000 after purchasing an additional 912,944 shares during the period.

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.