Waystar Holding Corp. (NASDAQ:WAY) Shares Purchased by Avenir Corp

Avenir Corp boosted its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 205.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 590,244 shares of the company's stock after purchasing an additional 396,911 shares during the quarter. Waystar comprises approximately 2.2% of Avenir Corp's holdings, making the stock its 13th largest holding. Avenir Corp owned 0.34% of Waystar worth $21,662,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Global Retirement Partners LLC purchased a new stake in Waystar in the 4th quarter worth about $25,000. Mark Sheptoff Financial Planning LLC purchased a new stake in shares of Waystar during the fourth quarter valued at $48,000. Stifel Financial Corp bought a new position in shares of Waystar in the third quarter worth about $204,000. Y Intercept Hong Kong Ltd purchased a new stake in Waystar in the 3rd quarter valued at about $222,000. Finally, Pictet Asset Management Holding SA bought a new stake in shares of Waystar during the fourth quarter valued at approximately $237,000.

Waystar Price Performance

Waystar stock traded up $0.52 during midday trading on Tuesday, reaching $35.73. The company had a trading volume of 281,037 shares, compared to its average volume of 1,377,222. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11. The firm's fifty day simple moving average is $38.85 and its 200-day simple moving average is $35.52. The company has a current ratio of 2.55, a quick ratio of 2.29 and a debt-to-equity ratio of 0.40.

Waystar (NASDAQ:WAY - Get Free Report) last announced 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. On average, analysts anticipate that Waystar Holding Corp. will post 0.39 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on WAY shares. Truist Financial started coverage on Waystar in a report on Friday, March 14th. They issued a "buy" rating and a $45.00 price objective for the company. Bank of America lifted their price target on Waystar from $36.00 to $43.00 and gave the company a "buy" rating in a report on Monday, January 6th. Barclays lowered their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a report on Monday, April 14th. Canaccord Genuity Group boosted their price target on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Finally, Jefferies Financial Group started coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a "buy" rating and a $51.00 price target on the stock. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Waystar presently has a consensus rating of "Buy" and a consensus target price of $40.33.

Insiders Place Their Bets

In related news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the company's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $40.00, for a total transaction of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares in the company, valued at approximately $1,187,691,440. This represents a 20.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CTO Christopher L. Schremser sold 8,623 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 $313,532.28. Following the completion of the sale, the chief technology officer now owns 438,044 shares in the company, valued at approximately $15,927,279.84. This represents a 1.93 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,411,461 shares of company stock worth $528,743,995 over the last three months.

Waystar Company Profile

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