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

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 6,910,000 shares, a growth of 56.0% from the March 15th total of 4,430,000 shares. Based on an average daily volume of 2,110,000 shares, the short-interest ratio is presently 3.3 days. Currently, 7.2% of the company's stock are sold short.

Waystar Trading Up 0.5 %

Shares of WAY traded up $0.19 during trading hours on Tuesday, hitting $35.40. 228,055 shares of the company were exchanged, compared to its average volume of 1,376,936. Waystar has a one year low of $20.26 and a one year high of $48.11. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55. The firm has a fifty day simple moving average of $38.85 and a 200-day simple moving average of $35.52.

Waystar (NASDAQ:WAY - Get Free Report) last released its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share 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 analysts' expectations of $232.29 million. As a group, analysts anticipate that Waystar will post 0.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on WAY shares. Canaccord Genuity Group upped their price objective on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a research note on Monday, February 24th. Truist Financial initiated coverage on Waystar in a report on Friday, March 14th. They set a "buy" rating and a $45.00 price target on the stock. Barclays reduced their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. 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 objective on the stock. Finally, Bank of America boosted their price target on shares of Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a research report on Monday, January 6th. Twelve research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $40.33.

Insider Transactions at Waystar

In related news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the business's stock in a transaction dated 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 completion of the sale, the insider now owns 29,692,286 shares of the company's stock, valued at $1,187,691,440. This represents a 20.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's stock in a transaction dated 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 transaction, the chief marketing officer now directly 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. Over the last 90 days, insiders have sold 13,411,461 shares of company stock valued at $528,743,995.

Institutional Trading of Waystar

Several hedge funds and other institutional investors have recently modified their holdings of WAY. Global Retirement Partners LLC acquired a new stake in Waystar during the 4th quarter worth about $25,000. RiverPark Advisors LLC grew 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 purchasing an additional 710 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Waystar by 4.1% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock worth $901,000 after buying an additional 960 shares in the last quarter. Russell Investments Group Ltd. boosted its stake in shares of Waystar by 1.8% during the 4th quarter. Russell Investments Group Ltd. now owns 54,096 shares of the company's stock valued at $1,985,000 after buying an additional 964 shares during the period. Finally, Mark Sheptoff Financial Planning LLC purchased a new position in shares of Waystar during the 4th quarter valued at $48,000.

About Waystar

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