Raymond James Financial Inc. Acquires New Stake in Mister Car Wash, Inc. (NYSE:MCW)

Raymond James Financial Inc. bought a new position in Mister Car Wash, Inc. (NYSE:MCW - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 166,971 shares of the company's stock, valued at approximately $1,217,000. Raymond James Financial Inc. owned approximately 0.05% of Mister Car Wash at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. grew its position in Mister Car Wash by 29.3% in the 4th quarter. Victory Capital Management Inc. now owns 82,186 shares of the company's stock worth $599,000 after purchasing an additional 18,610 shares in the last quarter. US Bancorp DE grew its holdings in shares of Mister Car Wash by 2,317.4% in the fourth quarter. US Bancorp DE now owns 17,212 shares of the company's stock valued at $125,000 after acquiring an additional 16,500 shares in the last quarter. Los Angeles Capital Management LLC purchased a new stake in shares of Mister Car Wash during the fourth quarter valued at approximately $698,000. Bank of New York Mellon Corp lifted 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 worth $5,101,000 after acquiring an additional 12,174 shares during the period. Finally, Olympiad Research LP purchased a new position in Mister Car Wash in the fourth quarter worth $264,000.

Mister Car Wash Stock Performance

MCW stock traded down $0.13 during midday trading on Monday, reaching $7.16. 2,550,769 shares of the company's stock traded hands, compared to its average volume of 1,594,602. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $8.60. The company has a 50-day moving average price of $7.90 and a two-hundred day moving average price of $7.47. 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 firm has a market capitalization of $2.32 billion, a PE ratio of 32.55, a price-to-earnings-growth ratio of 1.65 and a beta of 1.57.

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Insider Activity at Mister Car Wash

In other Mister Car Wash news, CFO Jedidiah Marc Gold sold 93,121 shares of Mister Car Wash stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $8.51, for a total transaction of $792,459.71. Following the completion of the transaction, the chief financial officer now owns 55,437 shares of the company's stock, valued at $471,768.87. The trade was a 62.68 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Joseph Duane Matheny sold 6,410 shares of the company's stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.01, for a total value of $51,344.10. Following the sale, the insider now owns 81,206 shares in the company, valued at approximately $650,460.06. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 360,313 shares of company stock worth $2,995,270. 70.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on MCW shares. UBS Group raised their target price on Mister Car Wash from $8.00 to $8.50 and gave the company a "neutral" rating in a research report on Thursday, February 20th. Morgan Stanley lifted their price objective on shares of 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. Wells Fargo & Company decreased their price target on shares of 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. Raymond James assumed coverage on Mister Car Wash in a research note on Thursday, March 13th. They issued an "outperform" rating and a $10.00 price objective on the stock. Finally, Stephens initiated coverage on Mister Car Wash in a research report on Tuesday, January 14th. They issued an "equal weight" rating and a $8.00 target price for the company. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, Mister Car Wash has an average rating of "Hold" and an average target price of $8.43.

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.