AlphaQuest LLC Boosts Stake in Mister Car Wash, Inc. (NYSE:MCW)

AlphaQuest LLC increased its stake in shares of Mister Car Wash, Inc. (NYSE:MCW) by 218,505.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 155,210 shares of the company’s stock after purchasing an additional 155,139 shares during the period. AlphaQuest LLC’s holdings in Mister Car Wash were worth $1,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in MCW. The Manufacturers Life Insurance Company boosted its position in shares of Mister Car Wash by 6,003.1% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 3,631,172 shares of the company’s stock worth $23,639,000 after purchasing an additional 3,571,675 shares during the period. Brown Brothers Harriman & Co. boosted its position in shares of Mister Car Wash by 41.1% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 2,511,330 shares of the company’s stock worth $16,349,000 after purchasing an additional 731,366 shares during the period. Verition Fund Management LLC boosted its position in shares of Mister Car Wash by 200.9% during the 3rd quarter. Verition Fund Management LLC now owns 514,467 shares of the company’s stock worth $3,349,000 after purchasing an additional 343,512 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Mister Car Wash during the 4th quarter worth approximately $1,217,000. Finally, Dynamic Technology Lab Private Ltd boosted its position in shares of 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 worth $1,016,000 after purchasing an additional 133,605 shares during the period.

Insider Activity

In other news, CFO Jedidiah Marc Gold sold 93,121 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $8.51, for a total value of $792,459.71. Following the sale, the chief financial officer now directly owns 55,437 shares in the company, valued at approximately $471,768.87. This trade represents a 62.68 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Joseph Duane Matheny sold 6,410 shares of Mister Car Wash stock in a transaction on Friday, February 14th. The stock was sold at an average price of $8.01, for a total transaction of $51,344.10. Following the sale, the insider now owns 81,206 shares in the company, valued at $650,460.06. This represents a 7.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 270,272 shares of company stock worth $2,247,041. 70.00% of the stock is currently owned by corporate insiders.

Mister Car Wash Price Performance

Shares of MCW opened at $7.96 on Monday. Mister Car Wash, Inc. has a twelve month low of $5.84 and a twelve month high of $8.56. The firm’s fifty day simple moving average is $7.58 and its 200-day simple moving average is $7.25. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 36.18, a PEG ratio of 1.65 and a beta of 1.60. The company has a current ratio of 0.53, a quick ratio of 0.24 and a debt-to-equity ratio of 0.92.

Analyst Upgrades and Downgrades

Several equities analysts have commented on MCW shares. Stephens started coverage on shares of Mister Car Wash in a research report on Tuesday, January 14th. They issued an “equal weight” rating and a $8.00 price target for the company. Wells Fargo & Company decreased their price target on shares of Mister Car Wash from $10.00 to $9.00 and set an “overweight” rating for the company in a research report on Monday, January 6th. UBS Group raised their price target on shares of Mister Car Wash from $8.00 to $8.50 and gave the company a “neutral” rating in a research report on Thursday, February 20th. Finally, Morgan Stanley raised 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 research report on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $8.57.

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.