Brown Brothers Harriman & Co. Boosts Stock Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Brown Brothers Harriman & Co. increased its position in Mister Car Wash, Inc. (NYSE:MCW) by 41.1% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 2,511,330 shares of the company’s stock after acquiring an additional 731,366 shares during the period. Brown Brothers Harriman & Co.’s holdings in Mister Car Wash were worth $16,349,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of Mister Car Wash by 763.2% in the second quarter. AQR Capital Management LLC now owns 4,117,900 shares of the company’s stock worth $29,155,000 after purchasing an additional 3,640,862 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Mister Car Wash by 64.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,369,673 shares of the company’s stock worth $9,752,000 after buying an additional 535,873 shares in the last quarter. Bank of New York Mellon Corp raised its position in Mister Car Wash by 23.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 762,363 shares of the company’s stock worth $5,428,000 after buying an additional 145,374 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in Mister Car Wash by 595.4% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 156,046 shares of the company’s stock valued at $1,016,000 after acquiring an additional 133,605 shares during the period. Finally, Intech Investment Management LLC purchased a new stake in shares of Mister Car Wash during the 3rd quarter valued at about $786,000.

Mister Car Wash Trading Up 1.5 %

Shares of MCW stock opened at $8.00 on Monday. Mister Car Wash, Inc. has a 1 year low of $5.84 and a 1 year high of $9.45. The firm has a fifty day moving average price of $7.01 and a 200-day moving average price of $6.95. The company has a market cap of $2.58 billion, a price-to-earnings ratio of 34.78, a PEG ratio of 2.05 and a beta of 1.60. The company has a debt-to-equity ratio of 0.96, a current ratio of 0.27 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.02. Mister Car Wash had a return on equity of 9.92% and a net margin of 7.54%. The business had revenue of $249.33 million during the quarter, compared to analysts’ expectations of $249.15 million. During the same quarter in the prior year, the business posted $0.06 earnings per share. The business’s quarterly revenue was up 6.5% on a year-over-year basis. As a group, equities analysts predict that Mister Car Wash, Inc. will post 0.29 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Joseph Duane Matheny sold 14,600 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $7.97, for a total value of $116,362.00. Following the completion of the transaction, the insider now owns 81,206 shares of the company’s stock, valued at $647,211.82. This represents a 15.24 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Jedidiah Marc Gold sold 66,122 shares of Mister Car Wash stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $8.51, for a total value of $562,698.22. Following the sale, the chief financial officer now directly owns 44,854 shares in the company, valued at $381,707.54. This trade represents a 59.58 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 613,896 shares of company stock valued at $4,957,139. 70.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on MCW shares. The Goldman Sachs Group boosted their price objective on shares of Mister Car Wash from $5.00 to $6.00 and gave the company a “sell” rating in a report on Thursday, August 1st. UBS Group increased their price target on Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, Mister Car Wash has a consensus rating of “Moderate Buy” and a consensus price target of $9.25.

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.