Envestnet Asset Management Inc. Grows Holdings in Mister Car Wash, Inc. (NYSE:MCW)

Envestnet Asset Management Inc. lifted its position in shares of Mister Car Wash, Inc. (NYSE:MCW) by 41.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,646 shares of the company’s stock after acquiring an additional 5,437 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Mister Car Wash were worth $136,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of MCW. Barclays PLC raised its holdings in shares of Mister Car Wash by 281.2% in the third quarter. Barclays PLC now owns 179,013 shares of the company’s stock worth $1,165,000 after acquiring an additional 132,051 shares during the last quarter. JPMorgan Chase & Co. boosted its position in shares of Mister Car Wash by 54.6% in the third quarter. JPMorgan Chase & Co. now owns 117,175 shares of the company’s stock worth $763,000 after buying an additional 41,390 shares during the period. Arkadios Wealth Advisors raised its stake in shares of Mister Car Wash by 13.3% during the fourth quarter. Arkadios Wealth Advisors now owns 48,640 shares of the company’s stock valued at $355,000 after purchasing an additional 5,702 shares during the period. Blue Trust Inc. lifted its holdings in Mister Car Wash by 59.4% in the 4th quarter. Blue Trust Inc. now owns 13,510 shares of the company’s stock worth $98,000 after buying an additional 5,032 shares in the last quarter. Finally, Bleakley Financial Group LLC grew its position in shares of Mister Car Wash by 74.0% during the fourth quarter. Bleakley Financial Group LLC now owns 66,666 shares of the company’s stock worth $486,000 after buying an additional 28,358 shares in the last quarter.

Mister Car Wash Stock Performance

NYSE:MCW opened at $7.49 on Friday. The firm’s 50-day moving average is $7.58 and its 200-day moving average is $7.57. The company has a market cap of $2.43 billion, a price-to-earnings ratio of 34.05, a PEG ratio of 1.65 and a beta of 1.58. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.24 and a current ratio of 0.53. Mister Car Wash, Inc. has a 52-week low of $5.84 and a 52-week high of $8.60.

Mister Car Wash (NYSE:MCW) last released its quarterly earnings data on Wednesday, May 7th. The company reported $0.11 earnings per share 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 last year, the company posted $0.08 EPS. The business’s quarterly revenue was up 9.4% on a year-over-year basis. Equities research analysts anticipate that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Insider Transactions at Mister Car Wash

In other news, CFO Jedidiah Marc Gold sold 42,278 shares of the firm’s stock in a transaction dated Friday, February 28th. The stock was sold at an average price of $8.50, for a total value of $359,363.00. Following the completion of the transaction, the chief financial officer now owns 44,854 shares in the company, valued at $381,259. This trade represents a 48.52 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock in a transaction dated Friday, February 14th. The shares were sold at an average price of $8.01, for a total transaction of $51,344.10. Following the completion of the transaction, the insider now directly owns 81,206 shares of the company’s stock, valued at approximately $650,460.06. This trade represents a 7.32 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 286,009 shares of company stock worth $2,397,123 in the last quarter. 70.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCW. Stephens cut their target price on shares of Mister Car Wash from $9.00 to $8.50 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. UBS Group decreased their target price on 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. Raymond James began coverage on shares of Mister Car Wash in a report on Thursday, March 13th. They issued an “outperform” rating and a $10.00 price objective for the company. Finally, Morgan Stanley upped their target price on Mister Car Wash from $8.00 to $9.00 and gave the company an “equal weight” rating in a report on Thursday, February 20th. 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 stock. Based on data from MarketBeat.com, Mister Car Wash has a consensus rating of “Hold” and an average price target of $8.46.

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.