Waystar Holding Corp. (NASDAQ:WAY) Sees Significant Growth in Short Interest

Waystar Holding Corp. (NASDAQ:WAY) was the recipient of a large growth in short interest in July. As of July 15th, there was short interest totaling 4,840,000 shares, agrowthof15,821.1% from the June 30th total of 30,400 shares. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is currently 2.8 days. Currently,4.2% of the shares of the stock are short sold. Currently,4.2% of the shares of the stock are short sold. Based on an average trading volume of 1,720,000 shares, the days-to-cover ratio is currently 2.8 days.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WAY. Barclays lowered their price target 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. Canaccord Genuity Group lowered their target price on shares of Waystar from $50.00 to $47.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Truist Financial lifted their target price on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. TD Cowen raised Waystar to a “strong-buy” rating in a research report on Thursday, June 5th. Finally, Citigroup initiated coverage on Waystar in a research report on Wednesday, June 25th. They issued a “buy” rating and a $45.00 price objective for the company. Twelve equities research analysts have rated the stock with a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $42.31.

Waystar Stock Down 3.8%

Shares of NASDAQ:WAY opened at $35.59 on Friday. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.12 and a current ratio of 3.43. Waystar has a 1 year low of $20.74 and a 1 year high of $48.11. The stock has a 50-day simple moving average of $38.37 and a 200-day simple moving average of $38.84. The stock has a market capitalization of $6.20 billion, a P/E ratio of 74.15, a PEG ratio of 0.74 and a beta of 0.80.

Waystar (NASDAQ:WAY) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.03. The firm had revenue of $270.65 million during the quarter, compared to analysts’ expectations of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%. Waystar’s quarterly revenue was up 15.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.04 EPS. Equities analysts forecast that Waystar will post 0.39 earnings per share for the current year.

Insider Activity

In other news, insider T. Craig Bridge sold 85,000 shares of the firm’s stock in a transaction that occurred on Monday, July 21st. The shares were sold at an average price of $37.09, for a total transaction of $3,152,650.00. Following the completion of the transaction, the insider directly owned 682,843 shares of the company’s stock, valued at $25,326,646.87. This trade represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Paul G. Moskowitz sold 3,012,253 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 value of $112,628,139.67. Following the transaction, the director directly owned 18,742,283 shares of the company’s stock, valued at $700,773,961.37. The trade was a 13.85% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,778,726 shares of company stock worth $328,889,968 in the last three months. Company insiders own 4.10% of the company’s stock.

Hedge Funds Weigh In On Waystar

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the last quarter. Invesco Ltd. boosted its stake in shares of Waystar by 9,107.1% during the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company’s stock valued at $76,225,000 after buying an additional 2,018,125 shares during the last quarter. Fuller & Thaler Asset Management Inc. purchased a new position in shares of Waystar during the 4th quarter valued at approximately $56,804,000. Farallon Capital Management LLC purchased a new position in shares of Waystar during the 4th quarter valued at approximately $49,251,000. Finally, Ameriprise Financial Inc. boosted its stake in Waystar by 721.4% during the 1st quarter. Ameriprise Financial Inc. now owns 1,202,340 shares of the company’s stock valued at $44,919,000 after acquiring an additional 1,055,965 shares during the last quarter.

Waystar Company Profile

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