Verition Fund Management LLC Purchases 343,512 Shares of Mister Car Wash, Inc. (NYSE:MCW)

Verition Fund Management LLC lifted its holdings in Mister Car Wash, Inc. (NYSE:MCW - Free Report) by 200.9% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 514,467 shares of the company's stock after buying an additional 343,512 shares during the quarter. Verition Fund Management LLC owned approximately 0.16% of Mister Car Wash worth $3,349,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Price T Rowe Associates Inc. MD boosted its stake in Mister Car Wash by 16.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 17,332 shares of the company's stock valued at $135,000 after purchasing an additional 2,479 shares during the period. CWM LLC increased its position in Mister Car Wash by 94.6% in the 2nd quarter. CWM LLC now owns 90,686 shares of the company's stock valued at $646,000 after acquiring an additional 44,085 shares during the period. Simplicity Wealth LLC raised its stake in Mister Car Wash by 22.4% during the 2nd quarter. Simplicity Wealth LLC now owns 382,357 shares of the company's stock valued at $2,722,000 after acquiring an additional 69,972 shares in the last quarter. Wedmont Private Capital bought a new position in shares of Mister Car Wash in the second quarter worth $181,000. Finally, Pallas Capital Advisors LLC acquired a new position in shares of Mister Car Wash during the second quarter valued at $84,000.

Analyst Upgrades and Downgrades

Separately, UBS Group upped their price objective on shares of Mister Car Wash from $7.50 to $8.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. One research analyst has rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $9.25.

Mister Car Wash Stock Down 2.7 %

NYSE:MCW traded down $0.21 during trading hours on Thursday, hitting $7.69. 479,942 shares of the stock traded hands, compared to its average volume of 1,623,260. The firm has a market cap of $2.48 billion, a price-to-earnings ratio of 34.33, a PEG ratio of 2.00 and a beta of 1.61. The firm has a 50 day moving average price of $7.24 and a 200 day moving average price of $6.98. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96. Mister Car Wash, Inc. has a fifty-two week low of $5.84 and a fifty-two week high of $9.45.

Mister Car Wash (NYSE:MCW - Get Free Report) last issued its earnings results on Wednesday, October 30th. The company reported $0.09 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.07 by $0.02. Mister Car Wash had a net margin of 7.54% and a return on equity of 9.92%. The company had revenue of $249.33 million during the quarter, compared to analyst estimates of $249.15 million. During the same quarter last year, the business posted $0.06 EPS. The company's revenue for the quarter was up 6.5% on a year-over-year basis. Equities research analysts anticipate that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other Mister Car Wash news, insider Joseph Duane Matheny sold 23,697 shares of the company's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $7.97, for a total transaction of $188,865.09. Following the completion of the sale, the insider now directly owns 81,206 shares in the company, valued at $647,211.82. This represents a 22.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jedidiah Marc Gold sold 66,122 shares of Mister Car Wash stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $8.51, for a total value of $562,698.22. Following the completion of the transaction, the chief financial officer now directly owns 44,854 shares in the company, valued at approximately $381,707.54. This represents a 59.58 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 613,896 shares of company stock worth $4,957,139. Insiders own 70.00% of the company's stock.

Mister Car Wash 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.