Ghisallo Capital Management LLC Makes New Investment in Waystar Holding Corp. (NASDAQ:WAY)

Ghisallo Capital Management LLC acquired a new stake in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 600,000 shares of the company's stock, valued at approximately $12,900,000. Waystar makes up approximately 0.8% of Ghisallo Capital Management LLC's holdings, making the stock its 29th biggest position. Ghisallo Capital Management LLC owned 0.36% of Waystar at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Canada Pension Plan Investment Board purchased a new stake in Waystar in the second quarter worth approximately $800,003,000. Deerfield Management Company L.P. Series C purchased a new stake in shares of Waystar in the 2nd quarter valued at $106,468,000. TPG GP A LLC bought a new position in shares of Waystar during the 2nd quarter valued at $85,910,000. American Century Companies Inc. purchased a new position in Waystar in the 2nd quarter worth $28,357,000. Finally, Peregrine Capital Management LLC bought a new stake in Waystar in the second quarter worth $9,010,000.

Waystar Stock Performance

NASDAQ:WAY traded down $0.07 during mid-day trading on Wednesday, reaching $26.96. The company's stock had a trading volume of 547,897 shares, compared to its average volume of 911,164. The firm's fifty day simple moving average is $25.67. Waystar Holding Corp. has a 12-month low of $20.26 and a 12-month high of $28.57.

Waystar (NASDAQ:WAY - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, beating analysts' consensus estimates of ($0.01) by $0.05. The company had revenue of $234.50 million for the quarter, compared to analysts' expectations of $216.25 million. Waystar's quarterly revenue was up 19.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.07) earnings per share. As a group, research analysts predict that Waystar Holding Corp. will post -0.08 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WAY shares. JPMorgan Chase & Co. increased their price objective on Waystar from $24.00 to $27.00 and gave the company an "overweight" rating in a research note on Monday, August 19th. William Blair started coverage on shares of Waystar in a report on Tuesday, July 2nd. They issued an "outperform" rating on the stock. Raymond James initiated coverage on shares of Waystar in a research report on Tuesday, July 2nd. They issued an "outperform" rating and a $30.00 price objective on the stock. Bank of America began coverage on Waystar in a research report on Tuesday, July 2nd. They issued a "buy" rating and a $27.00 price objective on the stock. Finally, Canaccord Genuity Group initiated coverage on Waystar in a report on Tuesday, July 2nd. They set a "buy" rating and a $30.00 target price for the company. Eleven investment analysts have rated the stock with a buy rating, According to MarketBeat, Waystar presently has an average rating of "Buy" and a consensus target price of $28.90.

Waystar Company Profile

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