Nicholas Investment Partners LP Makes New Investment in Mister Car Wash, Inc. (NYSE:MCW)

Nicholas Investment Partners LP purchased a new stake in shares of Mister Car Wash, Inc. (NYSE:MCW) in the 4th quarter, HoldingsChannel reports. The firm purchased 647,270 shares of the company’s stock, valued at approximately $4,719,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Quarry LP bought a new position in Mister Car Wash during the 4th quarter worth approximately $79,000. Forum Financial Management LP bought a new position in shares of Mister Car Wash in the fourth quarter worth approximately $81,000. BNP Paribas Financial Markets purchased a new position in shares of Mister Car Wash in the fourth quarter worth $96,000. Blue Trust Inc. raised 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 valued at $98,000 after buying an additional 5,032 shares during the last quarter. Finally, LPL Financial LLC purchased a new stake in Mister Car Wash during the 4th quarter valued at $102,000.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other Mister Car Wash news, insider Joseph Duane Matheny sold 6,410 shares of the business’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $8.01, for a total value of $51,344.10. Following the completion of the transaction, the insider now owns 81,206 shares of the company’s stock, valued at approximately $650,460.06. The trade was a 7.32% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jedidiah Marc Gold sold 42,278 shares of the stock in a transaction that occurred on Friday, February 28th. The shares were sold at an average price of $8.50, for a total transaction of $359,363.00. Following the transaction, the chief financial officer now owns 44,854 shares in the company, valued at approximately $381,259. This trade represents a 48.52% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 286,009 shares of company stock valued at $2,397,123. Insiders own 69.00% of the company’s stock.

Mister Car Wash Trading Down 0.8%

Shares of NYSE MCW opened at $7.88 on Wednesday. The firm has a 50-day moving average of $7.56 and a 200 day moving average of $7.61. Mister Car Wash, Inc. has a 1 year low of $5.84 and a 1 year high of $8.60. The stock has a market cap of $2.56 billion, a P/E ratio of 35.82, a price-to-earnings-growth ratio of 1.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.92, a current ratio of 0.53 and a quick ratio of 0.24.

Mister Car Wash (NYSE:MCW) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share for the quarter, beating 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 firm posted $0.08 earnings per share. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. As a group, sell-side analysts expect that Mister Car Wash, Inc. will post 0.33 EPS for the current fiscal 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.