Bridgefront Capital LLC Buys New Position in Waystar Holding Corp. (NASDAQ:WAY)

Bridgefront Capital LLC purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 14,865 shares of the company's stock, valued at approximately $546,000.

A number of other institutional investors have also made changes to their positions in WAY. Norges Bank bought a new position in shares of Waystar in the fourth quarter valued at $119,387,000. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Waystar in the 4th quarter valued at about $56,804,000. Vanguard Group Inc. lifted its stake in Waystar by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company's stock valued at $183,182,000 after purchasing an additional 1,054,180 shares during the last quarter. Bank of America Corp DE grew its holdings in Waystar by 263.2% during the fourth quarter. Bank of America Corp DE now owns 1,104,189 shares of the company's stock worth $40,524,000 after purchasing an additional 800,183 shares during the period. Finally, Lord Abbett & CO. LLC acquired a new position in Waystar during the fourth quarter worth approximately $27,987,000.

Waystar Price Performance

Shares of NASDAQ WAY traded down $0.48 during mid-day trading on Friday, reaching $40.01. The company had a trading volume of 1,379,912 shares, compared to its average volume of 1,391,778. The firm has a market cap of $6.92 billion and a price-to-earnings ratio of 444.56. The business's 50-day simple moving average is $37.57 and its 200 day simple moving average is $36.53. Waystar Holding Corp. 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.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, meeting the consensus estimate of $0.32. The firm had revenue of $256.44 million during the quarter, compared to analyst estimates of $248.47 million. The business's revenue was up 14.1% on a year-over-year basis. On average, research analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Insider Buying and Selling at Waystar

In other Waystar news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company's stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $42.15, for a total value of $143,310.00. Following the completion of the transaction, the chief marketing officer now owns 43,478 shares of the company's stock, valued at $1,832,597.70. This represents a 7.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the sale, the insider now directly owns 29,692,286 shares in the company, valued at $1,187,691,440. The trade was a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 13,411,461 shares of company stock valued at $528,743,995.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. Jefferies Financial Group began coverage on Waystar in a research note on Tuesday, February 11th. They set a "buy" rating and a $51.00 target price for the company. Barclays decreased their price objective 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. Truist Financial set a $50.00 target price on shares of Waystar and gave the stock a "buy" rating in a research note on Wednesday. Canaccord Genuity Group decreased their price target on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group raised their price objective on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Twelve equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $40.50.

Waystar Profile

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