Mister Car Wash (NYSE:MCW) Shares Gap Down Following Insider Selling

Mister Car Wash, Inc. (NYSE:MCW - Get Free Report) shares gapped down prior to trading on Friday following insider selling activity. The stock had previously closed at $8.27, but opened at $8.07. Mister Car Wash shares last traded at $8.14, with a volume of 28,594 shares changing hands.

Specifically, insider Joseph Duane Matheny sold 74,304 shares of the stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $8.05, for a total value of $598,147.20. Following the transaction, the insider now owns 81,206 shares of the company's stock, valued at $653,708.30. This represents a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on MCW shares. Morgan Stanley decreased their price target on Mister Car Wash from $9.00 to $8.00 and set an "equal weight" rating on the stock in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their target price on shares of Mister Car Wash from $10.00 to $9.00 and set an "overweight" rating on the stock in a research report on Monday, January 6th. Stephens initiated coverage on shares of Mister Car Wash in a report on Tuesday, January 14th. They set an "equal weight" rating and a $8.00 price objective on the stock. Finally, UBS Group boosted their price target on Mister Car Wash from $7.50 to $8.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Mister Car Wash presently has an average rating of "Hold" and a consensus target price of $8.81.

Mister Car Wash Stock Performance

The company has a quick ratio of 0.24, a current ratio of 0.27 and a debt-to-equity ratio of 0.96. The stock has a fifty day moving average price of $7.48 and a two-hundred day moving average price of $7.10. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of 34.48, a PEG ratio of 1.77 and a beta of 1.63.

Institutional Trading of Mister Car Wash

A number of hedge funds have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. boosted its holdings in Mister Car Wash by 41.1% in the third quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company's stock valued at $16,349,000 after acquiring an additional 731,366 shares during the last quarter. Barclays PLC increased its position in Mister Car Wash by 281.2% during the 3rd quarter. Barclays PLC now owns 179,013 shares of the company's stock worth $1,165,000 after purchasing an additional 132,051 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Mister Car Wash by 54.6% in the third quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company's stock valued at $763,000 after buying an additional 41,390 shares during the period. The Manufacturers Life Insurance Company lifted its position in Mister Car Wash by 6,003.1% during the third quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company's stock valued at $23,639,000 after buying an additional 3,571,675 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in Mister Car Wash by 200.9% during the third quarter. Verition Fund Management LLC now owns 514,467 shares of the company's stock worth $3,349,000 after buying an additional 343,512 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.