Jedidiah Marc Gold, Chief Financial Officer of Mister Car Wash , Inc. (NYSE:MCW), has reported significant transactions involving the company's stock. According to a recent SEC filing, Gold sold a total of 372,250 shares over two days, amounting to approximately $3,057,784.
The sales occurred on November 5 and November 6, with shares sold at average prices ranging from $8.00 to $8.22. Following these transactions, Gold's direct ownership in the company stands at 44,854 shares.
In addition to the sales, Gold also exercised stock options, acquiring a total of 372,250 shares at a price of $2.12 per share. These transactions reflect a strategic realignment of his holdings in Mister Car Wash, a company known for its automotive repair and services operations.
In other recent news, Mister Car Wash reported a steady growth in its third-quarter results, demonstrating a 7% increase in sales and a 2.9% rise in comparable store sales. The company's adjusted EBITDA saw a 10% growth, reaching $79 million. This growth is attributed to the success of the Titanium membership and a robust subscription model. Despite the impact of recent hurricanes, the company revised its full-year guidance upwards, reflecting an optimistic outlook.
Plans are underway to open approximately 40 new stores in the coming year. The company anticipates full-year net revenue between $988 million and $995 million, with an adjusted net income expected to be between $114 million and $117 million. However, there was a slight contraction in retail customer membership due to overall retail softness, and wage growth was lower than expected at 4.3%, down from the modeled 6%. Despite these challenges, Mister Car Wash continues to display resilience and strategic growth.
InvestingPro Insights
Recent data from InvestingPro sheds additional light on Mister Car Wash's financial position and market performance, providing context to CFO Jedidiah Marc Gold's recent stock transactions.
According to InvestingPro, Mister Car Wash (NYSE:MCW) has demonstrated strong market performance, with a significant 29.41% return over the last month and an impressive 31.86% return over the past three months. This upward trend aligns with the timing of Gold's stock sales, suggesting he may have capitalized on the company's recent stock price appreciation.
However, investors should note that the stock's Relative Strength Index (RSI) suggests it may be in overbought territory, as indicated by one of the InvestingPro Tips. This could imply that the stock's rapid price increase might not be sustainable in the short term.
From a financial perspective, Mister Car Wash reported revenue of $973.7 million in the last twelve months as of Q3 2023, with a revenue growth of 6.85%. The company's profitability is also noteworthy, with an operating income margin of 19.21% for the same period.
InvestingPro Tips highlight that while Mister Car Wash has been profitable over the last twelve months, it operates with a significant debt burden. This financial structure may explain why the company does not currently pay dividends to shareholders, instead focusing on growth and debt management.
For investors seeking a more comprehensive analysis, InvestingPro offers 12 additional tips for Mister Car Wash, providing a deeper understanding of the company's financial health and market position.
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