Mister Car Wash (NYSE:MCW) Shares Gap Up to $18.51

Mister Car Wash, Inc. (NYSE:MCW) gapped up prior to trading on Friday . The stock had previously closed at $18.51, but opened at $19.09. Mister Car Wash shares last traded at $18.60, with a volume of 6,149 shares.

Several analysts have issued reports on the stock. UBS Group upgraded shares of Mister Car Wash from a “neutral” rating to a “buy” rating and set a $23.00 target price on the stock in a research note on Friday. Jefferies Financial Group assumed coverage on shares of Mister Car Wash in a research note on Tuesday, July 20th. They issued a “buy” rating and a $30.00 target price on the stock. Piper Sandler began coverage on shares of Mister Car Wash in a research note on Tuesday, July 20th. They issued a “neutral” rating and a $21.00 target price on the stock. Wolfe Research began coverage on shares of Mister Car Wash in a report on Tuesday, July 20th. They issued an “outperform” rating and a $25.00 price target on the stock. Finally, Bank of America raised shares of Mister Car Wash from a “neutral” rating to a “buy” rating and set a $23.00 price target on the stock in a report on Friday. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Mister Car Wash has an average rating of “Buy” and a consensus target price of $23.75.

The company’s fifty day simple moving average is $20.01.

Mister Car Wash (NYSE:MCW) last released its earnings results on Thursday, August 12th. The company reported $0.14 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.09 by $0.05. The business had revenue of $197.08 million for the quarter, compared to the consensus estimate of $193.20 million. Equities analysts forecast that Mister Car Wash, Inc. will post 0.41 EPS for the current year.

In other news, insider Casey Penn Lindsay sold 61,320 shares of the firm’s stock in a transaction dated Tuesday, August 24th. The shares were sold at an average price of $19.42, for a total value of $1,190,834.40. Following the completion of the sale, the insider now directly owns 294,998 shares of the company’s stock, valued at approximately $5,728,861.16. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jonathan A. Seiffer sold 10,566,577 shares of the firm’s stock in a transaction dated Thursday, August 26th. The stock was sold at an average price of $19.42, for a total transaction of $205,202,925.34. The disclosure for this sale can be found here. In the last three months, insiders sold 11,251,285 shares of company stock worth $218,499,955.

A number of hedge funds and other institutional investors have recently modified their holdings of MCW. Alliancebernstein L.P. purchased a new position in Mister Car Wash during the 2nd quarter valued at about $75,510,000. Oppenheimer Asset Management Inc. purchased a new position in Mister Car Wash during the 2nd quarter valued at about $646,000. Waratah Capital Advisors Ltd. purchased a new position in Mister Car Wash in the second quarter worth about $12,533,000. Ibex Investors LLC purchased a new position in Mister Car Wash in the second quarter worth about $431,000. Finally, Evoke Wealth LLC purchased a new position in Mister Car Wash in the second quarter worth about $140,000. 95.16% of the stock is owned by institutional investors.

Mister Car Wash Company Profile (NYSE:MCW)

Mister Car Wash, Inc provides conveyorized car wash services in the United States. It offers express exterior and interior cleaning services. The company also provides related automotive services, including quick lube services and gasoline sales. As of March 31, 2021, it operated 344 car wash locations in 21 states, which include 263 express exterior locations and 81 interior cleaning locations.

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