Greenhouse Funds LLLP Increases Stake in Mister Car Wash, Inc. $MCW

Greenhouse Funds LLLP lifted its holdings in shares of Mister Car Wash, Inc. (NYSE:MCW) by 9.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 16,863,562 shares of the company’s stock after purchasing an additional 1,444,691 shares during the period. Mister Car Wash comprises about 3.3% of Greenhouse Funds LLLP’s investment portfolio, making the stock its 13th biggest position. Greenhouse Funds LLLP owned 5.15% of Mister Car Wash worth $89,883,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company boosted its position in Mister Car Wash by 27.4% during the second quarter. The Manufacturers Life Insurance Company now owns 6,166,833 shares of the company’s stock valued at $37,063,000 after buying an additional 1,327,745 shares during the period. Qube Research & Technologies Ltd increased its holdings in shares of Mister Car Wash by 91.5% in the second quarter. Qube Research & Technologies Ltd now owns 1,955,986 shares of the company’s stock worth $11,755,000 after buying an additional 934,611 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Mister Car Wash by 3,168.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 862,999 shares of the company’s stock worth $5,187,000 after buying an additional 836,593 shares during the period. Lazard Asset Management LLC bought a new stake in shares of Mister Car Wash in the 2nd quarter valued at about $4,761,000. Finally, Western Standard LLC bought a new stake in shares of Mister Car Wash in the 3rd quarter valued at about $4,144,000.

Analyst Ratings Changes

Several research firms recently issued reports on MCW. Wells Fargo & Company lowered Mister Car Wash from an “overweight” rating to an “equal weight” rating and set a $7.00 price target on the stock. in a research report on Wednesday, February 18th. BMO Capital Markets downgraded Mister Car Wash from an “outperform” rating to a “hold” rating and set a $7.00 price objective for the company. in a research report on Thursday, February 19th. Piper Sandler increased their price objective on Mister Car Wash from $6.00 to $7.00 and gave the company a “neutral” rating in a research note on Thursday, February 19th. Guggenheim cut shares of Mister Car Wash from a “buy” rating to a “neutral” rating in a report on Wednesday, February 18th. Finally, Mizuho reaffirmed a “neutral” rating and issued a $7.00 target price (down from $8.00) on shares of Mister Car Wash in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Buy rating, thirteen have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $7.10.

Mister Car Wash Price Performance

Shares of Mister Car Wash stock opened at $6.99 on Thursday. The business has a 50 day moving average of $6.23 and a 200 day moving average of $5.65. Mister Car Wash, Inc. has a 52 week low of $4.61 and a 52 week high of $8.60. The company has a market cap of $2.30 billion, a PE ratio of 31.77, a P/E/G ratio of 1.65 and a beta of 1.41. The company has a quick ratio of 0.24, a current ratio of 0.53 and a debt-to-equity ratio of 0.92.

Mister Car Wash (NYSE:MCW) last issued its quarterly earnings data on Wednesday, February 18th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.10 by $0.01. Mister Car Wash had a net margin of 7.06% and a return on equity of 10.49%. The business had revenue of $261.24 million for the quarter, compared to the consensus estimate of $262.35 million. During the same period in the previous year, the firm earned $0.09 EPS. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities research analysts forecast that Mister Car Wash, Inc. will post 0.33 earnings per share for the current year.

Mister Car Wash Profile

Mister Car Wash, traded on the NYSE under the ticker MCW, is a leading provider of vehicle cleaning services in the United States. The company specializes in a tiered range of wash offerings, including express exterior washes, full-service interior and exterior cleaning, and premium detailing services. In addition to one-time washes, Mister Car Wash markets unlimited monthly membership plans that grant customers access to recurring washes at participating locations.

Founded in 1969 and headquartered in Houston, Texas, Mister Car Wash has grown from a single facility to one of the largest car wash chains in the country.