Burkehill Global Management LP Makes New Investment in Waystar Holding Corp. (NASDAQ:WAY)

Burkehill Global Management LP bought a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 650,000 shares of the company's stock, valued at approximately $23,855,000. Waystar comprises 2.3% of Burkehill Global Management LP's investment portfolio, making the stock its 11th largest position. Burkehill Global Management LP owned about 0.38% of Waystar as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in WAY. Global Retirement Partners LLC purchased a new stake in shares of Waystar during the fourth quarter worth about $25,000. Amalgamated Bank purchased a new stake in Waystar in the 3rd quarter worth approximately $41,000. Smithfield Trust Co bought a new stake in shares of Waystar in the 3rd quarter worth approximately $68,000. RiverPark Advisors LLC purchased a new position in shares of Waystar during the third quarter valued at approximately $78,000. Finally, Stifel Financial Corp bought a new position in shares of Waystar during the third quarter valued at approximately $204,000.

Analyst Upgrades and Downgrades

WAY has been the topic of several recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a report on Wednesday, February 19th. 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 target price on the stock. Canaccord Genuity Group increased their price target on shares of Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Raymond James upgraded Waystar from an "outperform" rating to a "strong-buy" rating and set a $40.00 target price on the stock in a report on Friday, November 22nd. Finally, Truist Financial assumed coverage on Waystar in a research report on Friday. They set a "buy" rating and a $45.00 price target on the stock. Twelve equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Waystar presently has a consensus rating of "Buy" and an average price target of $40.75.

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Waystar Trading Up 3.4 %

Shares of NASDAQ WAY traded up $1.20 during trading on Friday, reaching $36.47. The company had a trading volume of 2,339,268 shares, compared to its average volume of 1,309,405. The business's 50-day moving average is $40.13 and its 200 day moving average is $33.57. 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 Holding Corp. has a 12-month low of $20.26 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.11. The firm had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. On average, sell-side analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Buying and Selling at Waystar

In other news, Director Paul G. Moskowitz sold 5,652,689 shares of the business's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $38.60, for a total transaction of $218,193,795.40. Following the completion of the transaction, the director now directly owns 22,327,728 shares of the company's stock, valued at $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 available at the SEC website. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $42.15, for a total transaction of $143,310.00. Following the completion of the sale, the chief marketing officer now owns 43,478 shares in the company, valued at $1,832,597.70. This represents a 7.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 13,356,171 shares of company stock worth $526,733,651.

About Waystar

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