Sei Investment Co. has recently reduced its stake in the popular car washing company, Mister Car Wash Inc. The latest Form 13F filing with the Securities and Exchange Commission (SEC) indicates that Sei Investment Co. cut down its shares by 67.6% during the 4th quarter, resulting in ownership of approximately 0.10% of the total worth of Mister Car Wash, valued at $2,931,000.
This event has prompted investors and analysts to take a closer look at this turn of events. With uncertainties in global markets on the rise due to the pandemic, there is growing interest in analyzing hedge funds and their investment strategies.
Investors seeking information on other hedge funds holding MCW can gain access to HoldingsChannel.com’s latest reports regarding insider trades and filings for Mister Car Wash Inc. Listed as NYSE:MCW, its stocks opened at $8.60 on Friday morning.
The firm’s current ratio stands at 0.68 with a quick ratio of 0.62- indicating lower than ideal liquidity ratios based on industry standards- while their debt-to-equity ratio rests at an elevated 1:08 value, perhaps signaling higher-risk investments into debt financing rather than equity financing.
With a market cap of around $2.65 billion and a price-earnings growth ratio of 2:43 (beating out some competitors but trailing others), it’s clear that MCW faces challenges but also benefits from strong brand recognition earned through decades of success within the car wash industry.
As leaders within the car-wash sector strive to remain profitable despite economic headwinds, it seems clear that continuing innovation and calculated risk-taking will be crucial for continued growth in a dynamic marketplace.”
Mister Car Wash, Inc.
Updated on: 09/06/2023
Hedge Funds Increase Shares in Mister Car Wash, Stock Rating Adjusted to ‘Hold’
Mister Car Wash (NYSE: MCW) has experienced changes in their stock holding and shares over the past year. A few hedge funds including BlackRock, Wasatch, Vanguard Group, Brown Advisory, and Crow’s Nest Holdings have all increased their shares of Mister Car Wash by varying degrees in the first quarter or during the last quarter. BlackRock Inc. was able to increase its position in shares of Mister Car Wash by a whopping 275.3% in the third quarter making it now own 10,269,758 shares of the company’s stock worth $88,113,000. With these stakes taken by hedge funds experts have weighed in on the stock decreasing its price target from $13 to $10 per share causing analysts to rate this as a “Hold.”
Mister Car Wash provides exterior and interior cleaning services through conveyorized car washes throughout 21 states across America with more than 400 locations open as of June 16th, 2022.Their earnings results for May 2nd showed they had failed to meet consensus estimates with an EPS of $0.06 instead of expected $0.08 EPS but still had a net margin of 11.16%. However despite missing expectations with their quarterly earnings report equities research analysts predict that the current fiscal year will end on a high note with an anticipated posted EPS for FY22 resting at about $0.27.
Overall it can be seen how major hedge funds have recently altered and increased their share holdings within Mister Car Wash while experts weigh in on what is predicted for future quarters effectively adjusting stock prices based off current and prior trends seeing Mister Car Wash’s present average rating being a “Hold.” It will be interesting to see what kind of path this decades-old American business takes after these changes are taken into account possibly leading into future expansions or adjustments.