Burkehill Global Management LP Takes Position in Waystar Holding Corp. (NASDAQ:WAY)

Burkehill Global Management LP purchased a new stake in Waystar Holding Corp. (NASDAQ:WAY) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 650,000 shares of the company’s stock, valued at approximately $23,855,000. Waystar comprises 2.3% of Burkehill Global Management LP’s holdings, making the stock its 11th biggest holding.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank bought a new position in shares of Waystar in the third quarter worth about $41,000. RiverPark Advisors LLC bought a new stake in shares of Waystar during the third quarter valued at approximately $78,000. Jennison Associates LLC increased its holdings in shares of Waystar by 4.3% in the third quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after purchasing an additional 46,264 shares in the last quarter. Smithfield Trust Co bought a new position in Waystar in the 3rd quarter worth approximately $68,000. Finally, Charles Schwab Investment Management Inc. acquired a new position in Waystar during the 3rd quarter worth $10,224,000.

Waystar Trading Down 0.2 %

Shares of WAY stock opened at $36.88 on Thursday. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The firm has a fifty day moving average of $40.16 and a 200-day moving average of $33.44.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million for the quarter, compared to the consensus estimate of $232.29 million. Sell-side analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Insider Activity

In other news, insider T. Craig Bridge sold 182,914 shares of the business’s stock in a transaction dated Wednesday, February 26th. The stock was sold at an average price of $42.15, for a total value of $7,709,825.10. Following the sale, the insider now directly owns 519,658 shares in the company, valued at $21,903,584.70. The trade was a 26.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the transaction, the chief marketing officer now directly owns 43,478 shares of the company’s stock, valued at $1,832,597.70. This represents a 7.25 % 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 over the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WAY shares. Canaccord Genuity Group boosted their target price on Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a research report on Monday, February 24th. Raymond James raised Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 price objective for the company in a report on Friday, November 22nd. Bank of America raised their target price on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a research note on Monday, January 6th. Jefferies Financial Group initiated coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a “buy” rating and a $51.00 price target for the company. Finally, Barclays raised their price objective on shares of Waystar from $42.00 to $50.00 and gave the company an “overweight” rating in a research note on Wednesday, February 19th. Eleven research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $40.36.

Waystar Company Profile

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