Divisadero Street Capital Management LP Takes Position in Mister Car Wash, Inc. (NYSE:MCW)

Divisadero Street Capital Management LP purchased a new position in shares of Mister Car Wash, Inc. (NYSE:MCW) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 1,425,491 shares of the company’s stock, valued at approximately $10,392,000. Mister Car Wash accounts for 1.2% of Divisadero Street Capital Management LP’s holdings, making the stock its 23rd biggest position.

Several other institutional investors and hedge funds have also added to or reduced their stakes in MCW. Quarry LP acquired a new position in shares of Mister Car Wash during the fourth quarter worth approximately $79,000. Forum Financial Management LP acquired a new stake in Mister Car Wash in the 4th quarter valued at $81,000. BNP Paribas Financial Markets bought a new stake in Mister Car Wash during the 4th quarter valued at $96,000. Blue Trust Inc. raised its holdings in Mister Car Wash by 59.4% during the fourth quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after buying an additional 5,032 shares during the last quarter. Finally, LPL Financial LLC bought a new position in shares of Mister Car Wash in the fourth quarter valued at $102,000.

Insider Activity at Mister Car Wash

In other Mister Car Wash news, CEO John Lo-Minn Lai sold 22,039 shares of the firm’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.44, for a total value of $186,009.16. Following the completion of the sale, the chief executive officer now directly owns 4,479,420 shares of the company’s stock, valued at $37,806,304.80. This trade represents a 0.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Jedidiah Marc Gold sold 52,989 shares of the business’s stock in a transaction on Tuesday, March 25th. The shares were sold at an average price of $8.52, for a total value of $451,466.28. Following the completion of the sale, the chief financial officer now owns 55,437 shares in the company, valued at approximately $472,323.24. The trade was a 48.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 286,009 shares of company stock worth $2,397,123. 70.00% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Raymond James started coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 target price on the stock. UBS Group decreased their price objective on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating for the company in a report on Thursday, May 1st. Stephens cut their target price on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research report on Thursday, April 24th. Finally, Morgan Stanley increased their price target on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $8.46.

Mister Car Wash Price Performance

Mister Car Wash stock opened at $7.53 on Wednesday. Mister Car Wash, Inc. has a 52 week low of $5.84 and a 52 week high of $8.60. The company’s 50 day moving average price is $7.62 and its two-hundred day moving average price is $7.56. The stock has a market cap of $2.45 billion, a P/E ratio of 34.23, a P/E/G ratio of 1.65 and a beta of 1.58. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings results on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.01. Mister Car Wash had a return on equity of 10.49% and a net margin of 7.06%. During the same quarter last year, the company earned $0.08 EPS. The firm’s quarterly revenue was up 9.4% on a year-over-year basis. On average, equities analysts predict that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

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.