Sun Life Financial Inc. Lowers Stake in Mister Car Wash, Inc. (NYSE:MCW)

Sun Life Financial Inc. cut its stake in shares of Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 59.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,801,138 shares of the company's stock after selling 5,468,100 shares during the quarter. Mister Car Wash accounts for about 1.5% of Sun Life Financial Inc.'s holdings, making the stock its 15th biggest holding. Sun Life Financial Inc. owned approximately 1.18% of Mister Car Wash worth $27,710,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in the stock. JPMorgan Chase & Co. raised its position in Mister Car Wash by 54.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company's stock worth $763,000 after purchasing an additional 41,390 shares during the period. Barclays PLC grew its holdings in Mister Car Wash by 281.2% in the 3rd quarter. Barclays PLC now owns 179,013 shares of the company's stock worth $1,165,000 after acquiring an additional 132,051 shares during the last quarter. New Age Alpha Advisors LLC bought a new position in shares of Mister Car Wash during the fourth quarter valued at about $945,000. Los Angeles Capital Management LLC purchased a new stake in shares of Mister Car Wash during the fourth quarter worth about $698,000. Finally, AlphaQuest LLC grew its stake in shares of Mister Car Wash by 218,505.6% in the fourth quarter. AlphaQuest LLC now owns 155,210 shares of the company's stock worth $1,131,000 after purchasing an additional 155,139 shares during the last quarter.

Analysts Set New Price Targets

MCW has been the topic of a number of research reports. UBS Group lifted their target price 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. Raymond James started coverage on Mister Car Wash in a research note on Thursday, March 13th. They issued an "outperform" rating and a $10.00 target price for the company. Morgan Stanley upped their price target on Mister Car Wash from $8.00 to $9.00 and gave the stock an "equal weight" rating in a research note on Thursday, February 20th. Stephens began coverage on Mister Car Wash in a research report on Tuesday, January 14th. They set an "equal weight" rating and a $8.00 price objective for the company. Finally, Wells Fargo & Company reduced 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Mister Car Wash has a consensus rating of "Hold" and an average target price of $8.43.

Mister Car Wash Stock Down 1.3 %

Shares of MCW traded down $0.10 on Thursday, hitting $7.39. 615,613 shares of the stock traded hands, compared to its average volume of 1,598,257. Mister Car Wash, Inc. has a one year low of $5.84 and a one year high of $8.60. The company has a market capitalization of $2.40 billion, a PE ratio of 33.29, a P/E/G ratio of 1.65 and a beta of 1.57. The business has a 50 day simple moving average of $7.83 and a 200 day simple moving average of $7.48. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53.

Insider Activity

In other news, insider Joseph Duane Matheny sold 74,304 shares of the business's stock in a transaction that occurred on 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 $653,708.30. The trade was a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John Lo-Minn Lai sold 22,039 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total transaction of $186,009.16. Following the completion of the sale, the chief executive officer now owns 4,479,420 shares in the company, valued at $37,806,304.80. This represents a 0.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 360,313 shares of company stock valued at $2,995,270 over the last ninety days. 70.00% of the stock is currently owned by corporate insiders.

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.