Insider Selling: Lindsay Casey Penn, Mister Car Wash Inc. [MCW] insider divested 1,597 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Mister Car Wash Inc. shares valued at $18,318 were sold by Lindsay Casey Penn on Jun 28. At $11.47 per share, Lindsay Casey Penn sold 1,597 shares. The insider’s holdings dropped to 18,403 shares worth approximately $0.17 million following the completion of this transaction.

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Also, Lai John Lo-minn sold 34,215 shares, netting a total of over 392,446 in proceeds. Following the sale of shares at $11.47 each, the insider now holds 2,838,168 shares.

Before that, Gold Jedidiah Marc had sold 5,378 shares from its account. In a trade valued at $61,686, the Chief Financial Officer traded Mister Car Wash Inc. shares for $11.47 each. Upon closing the transaction, the insider’s holdings decreased to 5,378 shares, worth approximately $7.52 million.

As published in a research note from Morgan Stanley on August 12, 2022, Mister Car Wash Inc. [MCW] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $11 from $16. This represents a 18.45% premium over Wednesday’s closing price. Analysts at Goldman downgraded the stock from ‘”a Neutral”‘ to ‘”a Sell”‘ outlook in a report released in late June. As of March 16, 2022, William Blair has initiated its “an Outperform” rating for MCW. Earlier on March 11, 2022, Stifel upgraded its rating. Their new recommendation was “a Buy” for MCW stock which previously was a “a Hold”.

Analyzing MCW’s Price Performance

On Wednesday, Mister Car Wash Inc. [NYSE: MCW] rose 1.13% to $8.97. The stock’s lowest price that day was $8.80, but it reached a high of $9.25 in the same session. During the last five days, there has been a drop of approximately -13.92%. Over the course of the year, Mister Car Wash Inc. shares have dropped approximately -50.74%. Shares of the company reached a 52-week high of $19.10 on 01/05/22 and a 52-week low of $8.62 on 09/20/22. A 50-day SMA is recorded $10.90, while a 200-day SMA reached $13.95. Nevertheless, trading volume fell to 1.4 million shares from 1.6 million shares the previous day.

Support And Resistance Levels for Mister Car Wash Inc. (MCW)

According to the 24-hour chart, there is a support level at 8.76, which, if violated, would cause prices to drop to 8.56. In the upper region, resistance lies at 9.21. The next price resistance is at 9.46. RSI (Relative Strength Index) is 34.51 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.90, which suggests the price will decrease in the coming days. Percent R is at 85.36%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Mister Car Wash Inc. subject to short interest?

Stocks of Mister Car Wash Inc. saw a sharp rise in short interest on Jul 14, 2022 jumping by 1.04 million shares to 14.4 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 13.36 million shares. A jump of 7.22% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 12.35 of the overall float, the days-to-cover ratio (short ratio) jumped to 12.35.

Which companies own the most shares of Mister Car Wash Inc. (MCW)?

According to Wasatch Advisors, Inc. filings, the company currently owns 13,484,122 shares, which is about 4.43% of the total MCW shares outstanding. The investor’s shares have appreciated by 3,494,890 from its previous 13-F filing of 9989232.0 shares. Fidelity Investments Canada ULC acquire a 31.73% interest valued at $89.93 million while The Vanguard Group, Inc. purchased a 43,495 stake. A total of 1,426,393 shares of Mister Car Wash Inc. were bought by Fidelity Management & Research Co during the quarter, and -89,318 were sold by AllianceBernstein LP. In its current portfolio, Crow’s Nest Holdings LP holds 3,851,271 shares valued at $38.17 million.

In terms of Mister Car Wash Inc. share price expectations, FactSet research, analysts set an average price target of $14.78 in the next 12 months, up nearly 46.56% from the previous closing price of $8.87. Analysts anticipate Mister Car Wash Inc. stock to reach $28.00 by 2022, with the lowest price target being $10.00. In spite of this, 10 analysts ranked Mister Car Wash Inc. stock as an Overweight at the end of 2022. On February 03, 2022, Stifel assigned a price target of “a Hold” to the stock and initiated coverage with a $20.


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