Entropy Technologies LP Purchases 12,903 Shares of Waystar Holding Corp. (NASDAQ:WAY)

Key Points

• Entropy Technologies LP significantly increased its position in Waystar by 163.9%, acquiring an additional 12,903 shares, bringing its total holdings to 20,777 shares valued at approximately $776,000.
• Several institutional investors, including Vanguard Group and Invesco Ltd., have also boosted their stakes in Waystar, indicating strong investor interest in the company.
• Analysts have a consensus rating of "Buy" for Waystar, with price targets ranging from $45.00 to $51.00, demonstrating positive expectations for the stock's future performance.

Entropy Technologies LP lifted its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 163.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 20,777 shares of the company's stock after purchasing an additional 12,903 shares during the quarter. Entropy Technologies LP's holdings in Waystar were worth $776,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Gen Wealth Partners Inc bought a new stake in Waystar in the 4th quarter valued at $92,000. Amalgamated Bank raised its stake 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 acquiring an additional 1,241 shares during the period. KBC Group NV bought a new stake in Waystar in the 1st quarter valued at $109,000. RiverPark Advisors LLC raised its stake in Waystar by 25.5% in the 4th quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after acquiring an additional 710 shares during the period. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in Waystar in the 1st quarter valued at $212,000.

Waystar Stock Up 1.6%

WAY traded up $0.56 during midday trading on Friday, hitting $36.08. The company had a trading volume of 1,408,887 shares, compared to its average volume of 1,773,052. Waystar Holding Corp. has a 52 week low of $24.94 and a 52 week high of $48.11. 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 company has a market capitalization of $6.29 billion, a price-to-earnings ratio of 75.17, a PEG ratio of 0.66 and a beta of 0.79. The stock's 50 day moving average price is $37.43 and its 200 day moving average price is $38.59.

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

Insider Buying and Selling

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $34.66, for a total transaction of $1,617,478.22. Following the sale, the chief executive officer owned 764,131 shares of the company's stock, valued at approximately $26,484,780.46. This represents a 5.76% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction dated Monday, July 21st. The stock was sold at an average price of $37.10, for a total value of $359,944.20. Following the sale, the insider directly owned 490,870 shares in the company, valued at $18,211,277. This trade represents a 1.94% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,651,716 shares of company stock worth $62,154,831. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

WAY has been the topic of several recent research reports. Canaccord Genuity Group lowered their price objective on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. TD Cowen raised Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Citigroup began coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. Mizuho began coverage on Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price on the stock. Finally, Truist Financial boosted their price objective on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Eleven analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $43.25.

About Waystar

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