Legato Capital Management LLC Makes New $692,000 Investment in Mister Car Wash, Inc. (NYSE:MCW)

Legato Capital Management LLC purchased a new position in Mister Car Wash, Inc. (NYSE:MCW) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 94,888 shares of the company’s stock, valued at approximately $692,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in shares of Mister Car Wash by 884.7% during the third quarter. Blue Trust Inc. now owns 8,478 shares of the company’s stock valued at $60,000 after purchasing an additional 7,617 shares in the last quarter. Sanctuary Advisors LLC bought a new position in shares of Mister Car Wash during the second quarter valued at approximately $112,000. iSAM Funds UK Ltd boosted its stake in shares of Mister Car Wash by 102.2% during the third quarter. iSAM Funds UK Ltd now owns 25,103 shares of the company’s stock valued at $163,000 after purchasing an additional 12,689 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of Mister Car Wash during the third quarter valued at approximately $198,000. Finally, MQS Management LLC bought a new position in shares of Mister Car Wash during the third quarter valued at approximately $212,000.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on MCW. Stephens began coverage on shares of Mister Car Wash in a research note on Tuesday, January 14th. They set an “equal weight” rating and a $8.00 price objective on the stock. UBS Group increased their price objective on shares of Mister Car Wash from $7.50 to $8.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company decreased their target price 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. Finally, Morgan Stanley decreased their target price on shares of Mister Car Wash from $9.00 to $8.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.81.

Insiders Place Their Bets

In other Mister Car Wash news, insider Joseph Duane Matheny sold 74,304 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $8.05, for a total value of $598,147.20. Following the completion of the transaction, the insider now owns 81,206 shares of the company’s stock, valued at approximately $653,708.30. This trade represents a 47.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 70.00% of the company’s stock.

Mister Car Wash Trading Up 4.2 %

NYSE MCW opened at $7.94 on Friday. The company has a fifty day simple moving average of $7.45 and a two-hundred day simple moving average of $7.13. The stock has a market cap of $2.56 billion, a P/E ratio of 34.52, a P/E/G ratio of 1.75 and a beta of 1.63. Mister Car Wash, Inc. has a 12-month low of $5.84 and a 12-month high of $9.45. The company has a current ratio of 0.27, a quick ratio of 0.24 and a debt-to-equity ratio of 0.96.

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.