Waystar Holding Corp. (NASDAQ:WAY) Short Interest Update

Waystar Holding Corp. (NASDAQ:WAY) was the target of a significant growth in short interest during the month of May. As of May 15th, there was short interest totalling 5,960,000 shares, a growth of 44.0% from the April 30th total of 4,140,000 shares. Approximately 5.2% of the company’s shares are sold short. Based on an average daily trading volume, of 2,100,000 shares, the short-interest ratio is currently 2.8 days.

Insider Buying and Selling

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of the firm’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $36.36, for a total value of $1,696,812.12. Following the completion of the sale, the chief executive officer now directly owns 500,000 shares in the company, valued at approximately $18,180,000. This trade represents a 8.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the firm’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the sale, the insider now owns 25,580,929 shares of the company’s stock, valued at $956,470,935.31. The trade was a 13.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,655,997 shares of company stock valued at $324,170,981 over the last quarter. Insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

Several hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its position in Waystar by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company’s stock worth $549,000 after acquiring an additional 304 shares during the period. Global Retirement Partners LLC bought a new stake in Waystar in the fourth quarter worth about $25,000. RiverPark Advisors LLC raised its position in Waystar by 25.5% in the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock worth $128,000 after acquiring an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Waystar by 4.1% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock worth $901,000 after acquiring an additional 960 shares during the period. Finally, Legato Capital Management LLC raised its position in shares of Waystar by 8.4% in the first quarter. Legato Capital Management LLC now owns 12,398 shares of the company’s stock valued at $463,000 after purchasing an additional 960 shares during the period.

Waystar Stock Down 0.5%

Waystar stock opened at $39.77 on Tuesday. The stock has a market cap of $6.88 billion and a PE ratio of 441.89. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The firm’s 50-day simple moving average is $38.01 and its 200 day simple moving average is $37.66.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The company had revenue of $256.44 million during the quarter, compared to the consensus estimate of $248.47 million. The firm’s revenue for the quarter was up 14.1% compared to the same quarter last year. Research analysts predict that Waystar will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Truist Financial set a $50.00 price objective on shares of Waystar and gave the company a “buy” rating in a report on Wednesday, May 7th. Jefferies Financial Group assumed coverage on shares of Waystar in a report on Tuesday, February 11th. They set a “buy” rating and a $51.00 price objective for the company. Canaccord Genuity Group reduced their price objective on shares of Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a report on Thursday, May 1st. Barclays reduced their price objective on shares of Waystar from $50.00 to $45.00 and set an “overweight” rating for the company in a report on Monday, April 14th. Finally, The Goldman Sachs Group lifted their price objective on shares of Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Twelve research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $40.50.

Waystar Company Profile

Waystar Holding Corp. is a software company which provide healthcare payments. Waystar Holding Corp. is based in LEHI, Utah.