Connor Clark & Lunn Investment Management Ltd. Takes Position in Mister Car Wash, Inc. (NYSE:MCW)

Posted by on May 30th, 2023

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Mister Car Wash, Inc. (NYSE:MCW – Get Rating) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 196,566 shares of the company’s stock, valued at approximately $1,814,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.06% of Mister Car Wash at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Point72 Hong Kong Ltd acquired a new stake in Mister Car Wash during the second quarter worth approximately $30,000. Ellevest Inc. raised its stake in Mister Car Wash by 153.0% during the fourth quarter. Ellevest Inc. now owns 2,755 shares of the company’s stock worth $25,000 after purchasing an additional 1,666 shares during the period. MetLife Investment Management LLC purchased a new position in shares of Mister Car Wash in the 1st quarter valued at $63,000. Ensign Peak Advisors Inc purchased a new position in shares of Mister Car Wash in the 3rd quarter valued at $45,000. Finally, Quantbot Technologies LP purchased a new position in shares of Mister Car Wash in the 1st quarter valued at $87,000.

Mister Car Wash Stock Up 1.6 %

MCW stock opened at $8.33 on Tuesday. Mister Car Wash, Inc. has a 52 week low of $7.80 and a 52 week high of $13.08. The company has a market capitalization of $2.57 billion, a price-to-earnings ratio of 28.72, a price-to-earnings-growth ratio of 2.29 and a beta of 1.02. The firm’s 50-day moving average is $8.61 and its two-hundred day moving average is $9.24. The company has a current ratio of 0.68, a quick ratio of 0.62 and a debt-to-equity ratio of 1.08.

Mister Car Wash (NYSE:MCW – Get Rating) last released its quarterly earnings results on Tuesday, May 2nd. The company reported $0.06 EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.02). Mister Car Wash had a return on equity of 13.15% and a net margin of 11.16%. The company had revenue of $225.96 million for the quarter, compared to the consensus estimate of $231.61 million. On average, analysts forecast that Mister Car Wash, Inc. will post 0.27 earnings per share for the current fiscal year.

Analysts Set New Price Targets

MCW has been the subject of a number of recent analyst reports. Morgan Stanley lowered their price target on shares of Mister Car Wash from $11.00 to $10.00 and set an “equal weight” rating for the company in a report on Friday, February 24th. BMO Capital Markets decreased their price objective on shares of Mister Car Wash from $13.00 to $11.00 in a report on Wednesday, May 3rd. Piper Sandler decreased their price objective on shares of Mister Car Wash from $11.00 to $10.00 in a report on Wednesday, April 26th. Finally, UBS Group decreased their price objective on shares of Mister Car Wash from $11.00 to $10.00 in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $10.00.

About Mister Car Wash

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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. As of June 16, 2022, it operated 407 car wash locations in 21 states. The company was formerly known as Hotshine Holdings, Inc and changed its name to Mister Car Wash, Inc in March 2021.

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Institutional Ownership by Quarter for Mister Car Wash (NYSE:MCW)

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