Cinctive Capital Management LP Takes Position in Waystar Holding Corp. $WAY

Key Points

• Cinctive Capital Management LP has acquired a new position in Waystar Holding Corp., purchasing 78,216 shares valued at approximately $2.92 million.
• Waystar's quarterly earnings report revealed an EPS of $0.36, exceeding analyst expectations of $0.33, and a revenue of $270.65 million, up 15.4% year-over-year.
• Several analysts have rated Waystar with a consensus target price of $44.73, with Citigroup and Mizuho issuing "buy" ratings and target prices of $45.00 and $48.00, respectively.

Cinctive Capital Management LP bought a new stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm bought 78,216 shares of the company's stock, valued at approximately $2,922,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. PNC Financial Services Group Inc. grew its position in shares of Waystar by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock valued at $549,000 after purchasing an additional 304 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Waystar by 4.1% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock valued at $901,000 after purchasing an additional 960 shares during the period. Legato Capital Management LLC boosted its stake in Waystar by 8.4% during the 1st quarter. Legato Capital Management LLC now owns 12,398 shares of the company's stock valued at $463,000 after purchasing an additional 960 shares during the period. Amalgamated Bank grew its holdings in Waystar by 84.1% in the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after buying an additional 1,241 shares during the last quarter. Finally, State of Wyoming bought a new position in Waystar in the 1st quarter worth approximately $54,000.

Insider Activity

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total value of $1,617,478.22. Following the completion of the transaction, the chief executive officer owned 764,131 shares in the company, valued at approximately $26,484,780.46. The trade was a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction on Tuesday, August 26th. The stock was sold at an average price of $37.01, for a total value of $125,834.00. Following the sale, the chief marketing officer owned 193,261 shares in the company, valued at $7,152,589.61. The trade was a 1.73% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 237,788 shares of company stock worth $8,760,767. 4.10% of the stock is currently owned by insiders.

Waystar Price Performance

WAY traded up $0.03 during midday trading on Tuesday, reaching $40.89. 2,537,593 shares of the company's stock were exchanged, compared to its average volume of 1,852,423. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. The business has a 50-day simple moving average of $36.77 and a two-hundred day simple moving average of $37.96. The firm has a market capitalization of $7.12 billion, a price-to-earnings ratio of 85.19, a price-to-earnings-growth ratio of 0.68 and a beta of 0.78. Waystar Holding Corp. has a one year low of $25.76 and a one year high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.33 by $0.03. The business had revenue of $270.65 million during the quarter, compared to analysts' expectations of $255.26 million. Waystar had a return on equity of 5.65% and a net margin of 8.50%.Waystar's quarterly revenue was up 15.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Citigroup began coverage on Waystar in a research report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 price objective for the company. Mizuho initiated coverage on shares of Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target for the company. Robert W. Baird began coverage on shares of Waystar in a report on Friday. They set an "outperform" rating and a $44.00 price objective on the stock. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Finally, Baird R W upgraded shares of Waystar to a "strong-buy" rating in a research note on Friday. Three equities research analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company's stock. Based on data from MarketBeat, Waystar currently has a consensus rating of "Buy" and an average target price of $44.67.

About Waystar

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