Waystar Holding Corp. (NASDAQ:WAY) Sees Large Increase in Short Interest

Waystar Holding Corp. (NASDAQ:WAY) was the target of a significant growth in short interest during the month of 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. Approximately 4.6% of the shares of the company are sold short. Based on an average daily volume of 1,980,000 shares, the short-interest ratio is currently 2.2 days.

Insiders Place Their Bets

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm’s stock in a transaction on 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 approximately $1,832,597.70. This trade represents a 7.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul G. Moskowitz sold 5,652,689 shares of the business’s stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $38.60, for a total value of $218,193,795.40. Following the sale, the director now directly owns 22,327,728 shares of the company’s stock, valued at $861,850,300.80. This represents a 20.20 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 13,356,171 shares of company stock valued at $526,733,651.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC bought a new stake in shares of Waystar in the 4th quarter valued at approximately $25,000. Mark Sheptoff Financial Planning LLC bought a new stake in Waystar in the fourth quarter worth $48,000. Gen Wealth Partners Inc purchased a new position in Waystar during the fourth quarter worth $92,000. RiverPark Advisors LLC increased its position in Waystar by 25.5% during the fourth 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 last quarter. Finally, Pictet Asset Management Holding SA purchased a new stake in shares of Waystar in the fourth quarter valued at $237,000.

Waystar Stock Down 1.2 %

Shares of WAY opened at $37.36 on Tuesday. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11. The business’s 50 day simple moving average is $40.21 and its 200-day simple moving average is $34.48.

Waystar (NASDAQ:WAY) last released its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 EPS 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. Equities research analysts anticipate that Waystar will post 0.39 EPS for the current year.

Analyst Ratings Changes

WAY has been the subject of several analyst reports. Canaccord Genuity Group increased their target price on shares of Waystar from $42.00 to $50.00 and gave the stock a “buy” rating in a report on Monday, February 24th. Truist Financial initiated coverage on shares of Waystar in a research note on Friday, March 14th. They issued a “buy” rating and a $45.00 price objective for the company. Barclays lifted their target price 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. The Goldman Sachs Group increased their price target on Waystar from $44.00 to $52.00 and gave the stock a “buy” rating in a research note on Wednesday, February 19th. Finally, Bank of America upped their price objective on Waystar from $36.00 to $43.00 and gave the stock a “buy” rating in a research note on Monday, January 6th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Waystar has an average rating of “Buy” and an average target price of $40.75.

Waystar Company Profile

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