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

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 4,430,000 shares, an increase of 50.2% from the February 28th total of 2,950,000 shares. Approximately 4.6% of the shares of the company are sold short. Based on an average trading volume of 1,980,000 shares, the days-to-cover ratio is presently 2.2 days.

Insider Activity at Waystar

In other news, CMO Melissa F. (Missy) Miller sold 3,400 shares of Waystar 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 transaction, the chief marketing officer now directly owns 43,478 shares of the company's stock, valued at $1,832,597.70. The trade was a 7.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of the stock in a transaction that occurred on Monday, February 24th. The stock was 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 directly owns 29,692,286 shares of the company's stock, valued at $1,187,691,440. This represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,356,171 shares of company stock worth $526,733,651.

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Institutional Investors Weigh In On Waystar

Large investors have recently bought and sold shares of the company. Global Retirement Partners LLC acquired a new stake in Waystar during the 4th quarter valued at approximately $25,000. Mark Sheptoff Financial Planning LLC acquired a new position in Waystar during the fourth quarter valued at $48,000. Gen Wealth Partners Inc purchased a new stake in Waystar in the fourth quarter valued at $92,000. RiverPark Advisors LLC boosted its holdings in Waystar by 25.5% in 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 during the last quarter. Finally, Stifel Financial Corp purchased a new position in shares of Waystar during the 3rd quarter valued at about $204,000.

Waystar Stock Performance

Shares of NASDAQ WAY traded up $0.10 during midday trading on Wednesday, reaching $37.04. The company had a trading volume of 731,911 shares, compared to its average volume of 1,378,071. Waystar has a 1 year low of $20.26 and a 1 year high of $48.11. The business's 50-day simple moving average is $40.19 and its 200 day simple moving average is $34.55. 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 issued its earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, topping 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, equities research analysts expect that Waystar will post 0.39 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on WAY shares. The Goldman Sachs Group raised their price objective on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price target on the stock. Truist Financial started coverage on Waystar in a research note on Friday, March 14th. They issued a "buy" rating and a $45.00 price objective on the stock. Canaccord Genuity Group increased their target price on Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, Barclays lifted their price objective on shares of Waystar from $42.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Twelve investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $40.75.

About Waystar

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