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Joseph Duane Matheny, the Chief Innovation Officer of Mister Car Wash , Inc. (NYSE:MCW), recently executed a series of stock transactions, as disclosed in a Form 4 filing with the Securities and Exchange Commission. The company, currently valued at $2.6 billion, has seen its stock rise over 21% in the past six months, though InvestingPro analysis suggests the shares are trading above their Fair Value. On March 17, Matheny sold 36,452 shares of common stock at a weighted average price of $8.01 per share, generating a total of $291,980. The shares were sold in multiple transactions with prices ranging from $7.97 to $8.07. The stock, which has shown significant volatility according to InvestingPro data, currently trades near its 52-week high of $8.56.
In addition to the sale, Matheny also exercised stock options to acquire 36,452 shares at a conversion price of $0.66 each, resulting in a total transaction value of $24,058. Following these transactions, Matheny’s direct ownership in Mister Car Wash stands at 84,895 shares, while an additional 45,000 shares are held indirectly through the Emersyn Matheny Irrevocable Trust.
These transactions reflect Matheny’s ongoing management of his equity stake in Mister Car Wash, a leading provider of car wash services across the United States, headquartered in Tucson, Arizona.
In other recent news, Mister Car Wash Inc. reported its fourth-quarter 2024 earnings, exceeding analysts’ expectations with an earnings per share (EPS) of $0.09, surpassing the forecasted $0.07. The company saw a 9% increase in net revenues, reaching $251 million, driven by strategic innovations such as the launch of the Titanium membership service. Additionally, Mister Car Wash opened 40 new locations, bringing its total to over 500 stores. In another development, Stifel analysts raised their price target for Mister Car Wash to $8.50 from $8.00, maintaining a Hold rating. This adjustment followed the company’s stronger-than-expected same-store sales and EBITDA performance for the recent quarter. Meanwhile, Raymond (NSE:RYMD) James initiated coverage on Mister Car Wash with an Outperform rating and a $10.00 price target, highlighting the company’s potential for growth in the fragmented U.S. car wash industry. These recent developments reflect the company’s strategic focus on expanding its membership base and physical footprint, aiming for substantial revenue and EBITDA growth.
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