Accurate Wealth Management LLC Takes $983,000 Position in Mister Car Wash, Inc. (NYSE:MCW)

Accurate Wealth Management LLC bought a new position in shares of Mister Car Wash, Inc. (NYSE:MCW) in the 1st quarter, HoldingsChannel reports. The fund bought 124,595 shares of the company’s stock, valued at approximately $983,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in MCW. Quantinno Capital Management LP bought a new stake in Mister Car Wash during the 4th quarter worth approximately $77,000. Quarry LP purchased a new stake in Mister Car Wash in the 4th quarter valued at $79,000. Forum Financial Management LP purchased a new stake in Mister Car Wash in the 4th quarter valued at $81,000. BNP Paribas Financial Markets bought a new position in Mister Car Wash during the 4th quarter valued at $96,000. Finally, Blue Trust Inc. boosted its holdings in Mister Car Wash by 59.4% during the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after acquiring an additional 5,032 shares during the last quarter.

Mister Car Wash Stock Up 1.4%

Mister Car Wash stock opened at $6.66 on Tuesday. The firm has a 50 day moving average price of $7.20 and a 200-day moving average price of $7.52. 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, Inc. has a twelve month low of $5.84 and a twelve month high of $8.60. The company has a market capitalization of $2.16 billion, a P/E ratio of 30.27, a P/E/G ratio of 1.65 and a beta of 1.56.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 EPS for the quarter, beating the consensus estimate 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 period in the prior year, the business earned $0.08 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. As a group, equities analysts predict that Mister Car Wash, Inc. will post 0.33 EPS for the current year.

Insider Transactions at Mister Car Wash

In related news, insider Mary Lyn Porter sold 6,303 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $6.69, for a total value of $42,167.07. Following the completion of the transaction, the insider now directly owns 23,081 shares of the company’s stock, valued at approximately $154,411.89. This trade represents a 21.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jodi Taylor sold 5,205 shares of Mister Car Wash stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $7.06, for a total transaction of $36,747.30. Following the completion of the transaction, the director now owns 36,932 shares of the company’s stock, valued at $260,739.92. This represents a 12.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 211,560 shares of company stock worth $1,576,563. 69.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have recently commented on MCW shares. 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 for the company. Morgan Stanley increased their price objective on shares of Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a research note on Thursday, February 20th. UBS Group cut their target price on Mister Car Wash from $8.50 to $8.25 and set a “neutral” rating on the stock in a research note on Thursday, May 1st. Stephens decreased their price target on Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating for the company in a research report on Thursday, April 24th. Finally, The Goldman Sachs Group started coverage on Mister Car Wash in a research report on Tuesday, June 3rd. They issued a “sell” rating and a $6.25 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $8.50.

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.