Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 50.2% in March

Waystar Holding Corp. (NASDAQ:WAY) saw a large growth in short interest in March. As of March 15th, there was short interest totalling 4,430,000 shares, a growth of 50.2% from the February 28th total of 2,950,000 shares. Based on an average trading volume of 1,980,000 shares, the short-interest ratio is currently 2.2 days. Approximately 4.6% of the company’s stock are sold short.

Insiders Place Their Bets

In other news, Director Paul G. Moskowitz sold 5,652,689 shares of Waystar stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $38.60, for a total transaction of $218,193,795.40. Following the sale, the director now owns 22,327,728 shares in the company, valued at approximately $861,850,300.80. The trade was a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider T. Craig Bridge sold 182,914 shares of the company’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total value of $7,709,825.10. Following the completion of the sale, the insider now directly owns 519,658 shares of the company’s stock, valued at approximately $21,903,584.70. This trade represents a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,356,171 shares of company stock worth $526,733,651 in the last 90 days.

Institutional Trading of Waystar

Several hedge funds and other institutional investors have recently bought and sold shares of WAY. Global Retirement Partners LLC purchased a new position in Waystar during the fourth quarter worth approximately $25,000. Cerity Partners LLC lifted its position in Waystar by 1.5% during the third quarter. Cerity Partners LLC now owns 46,699 shares of the company’s stock valued at $1,302,000 after buying an additional 699 shares in the last quarter. RiverPark Advisors LLC raised its stake in shares of Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company’s stock valued at $128,000 after acquiring an additional 710 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Waystar by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company’s stock valued at $901,000 after acquiring an additional 960 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its position in Waystar by 1.8% in the fourth quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company’s stock valued at $1,985,000 after purchasing an additional 964 shares during the period.

Analyst Ratings Changes

A number of analysts recently weighed in on WAY shares. Bank of America increased their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. The Goldman Sachs Group boosted their target price on Waystar from $44.00 to $52.00 and gave the company a “buy” rating in a report on Wednesday, February 19th. Truist Financial began coverage on Waystar in a report on Friday, March 14th. They set a “buy” rating and a $45.00 price target for the company. Canaccord Genuity Group boosted their price objective on shares of Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 target price for the company. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $40.75.

Waystar Price Performance

NASDAQ WAY opened at $37.83 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The business has a fifty day moving average of $40.22 and a 200-day moving average of $34.34.

Waystar (NASDAQ:WAY) last released its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to analysts’ expectations of $232.29 million. Equities research analysts predict that Waystar will post 0.39 earnings per share for the current year.

About Waystar

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