Waystar Holding Corp. (NASDAQ:WAY) Shares Acquired by Burkehill Global Management LP

Key Points

• Burkehill Global Management LP increased its stake in Waystar Holding Corp. by 38.5%, owning 900,000 shares after acquiring an additional 250,000 shares in the first quarter of the year.
• Analysts maintain a positive outlook on Waystar, with a consensus target price of $42.31 and twelve analysts issuing a "buy" rating on the stock.
• Insider trading has seen significant activity, with director Paul G. Moskowitz selling over 3 million shares for approximately $112.6 million, resulting in a 13.85% decrease in his ownership.

Burkehill Global Management LP grew its position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 38.5% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 900,000 shares of the company's stock after buying an additional 250,000 shares during the period. Waystar comprises 2.5% of Burkehill Global Management LP's portfolio, making the stock its 12th largest position. Burkehill Global Management LP owned 0.52% of Waystar worth $33,624,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the company. Gen Wealth Partners Inc acquired a new position in shares of Waystar during the 4th quarter valued at $92,000. Amalgamated Bank increased its position in shares of Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after purchasing an additional 1,241 shares during the period. KBC Group NV acquired a new position in shares of Waystar during the 1st quarter valued at $109,000. RiverPark Advisors LLC increased its position in shares of Waystar by 25.5% during the 4th 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 period. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in shares of Waystar in the 1st quarter worth $212,000.

Insider Activity

In other Waystar news, insider T. Craig Bridge sold 85,000 shares of the company's stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $37.09, for a total value of $3,152,650.00. Following the completion of the sale, the insider directly owned 682,843 shares of the company's stock, valued at approximately $25,326,646.87. This represents a 11.07% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Matthew J. Hawkins sold 197,847 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was sold at an average price of $38.53, for a total transaction of $7,623,044.91. Following the completion of the transaction, the chief executive officer directly owned 764,131 shares of the company's stock, valued at approximately $29,441,967.43. This trade represents a 20.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 8,778,726 shares of company stock valued at $328,639,855. Corporate insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

WAY has been the subject of a number of research reports. Mizuho initiated coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective for the company. Canaccord Genuity Group reduced their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Citigroup assumed coverage on Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price target for the company. Truist Financial boosted their price target on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, TD Cowen raised Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Twelve research analysts have rated the stock with a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Waystar currently has a consensus rating of "Buy" and an average target price of $42.31.

Waystar Stock Up 2.2%

Shares of NASDAQ WAY traded up $0.77 during mid-day trading on Wednesday, hitting $35.35. The company had a trading volume of 1,586,883 shares, compared to its average volume of 1,863,862. The company has a market capitalization of $6.16 billion, a PE ratio of 73.65, a price-to-earnings-growth ratio of 0.63 and a beta of 0.79. The firm has a 50-day simple moving average of $37.71 and a two-hundred day simple moving average of $38.68. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. Waystar Holding Corp. has a one year low of $24.53 and a one year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating analysts' consensus estimates of $0.33 by $0.03. The company had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The firm's quarterly revenue was up 15.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.04 earnings per share. On average, equities analysts expect that Waystar Holding Corp. will post 0.39 EPS for the current year.

Waystar Profile

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