Ghisallo Capital Management LLC Buys 50,000 Shares of Waystar Holding Corp. $WAY

Key Points

• Ghisallo Capital Management LLC increased its stake in Waystar Holding Corp. by 8.3%, now holding 650,000 shares valued at approximately $24.28 million, making it the 11th largest position in their portfolio.
• Waystar recently received several analyst upgrades, with TD Cowen designating it as a "strong-buy" and setting a price target, reflecting positive market sentiment.
• The company's stock has shown strong performance, posting quarterly earnings of $0.36 per share, exceeding analysts' expectations and marking a 15.4% increase in revenue compared to the previous year.

Ghisallo Capital Management LLC boosted its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 650,000 shares of the company's stock after acquiring an additional 50,000 shares during the quarter. Waystar comprises approximately 2.1% of Ghisallo Capital Management LLC's portfolio, making the stock its 11th biggest holding. Ghisallo Capital Management LLC owned about 0.38% of Waystar worth $24,284,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of WAY. Vanguard Group Inc. grew its holdings in Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in shares of Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after acquiring an additional 79,944 shares during the last quarter. Invesco Ltd. increased its position in Waystar by 9,107.1% during the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock worth $76,225,000 after purchasing an additional 2,018,125 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its position in Waystar by 27.6% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company's stock worth $73,791,000 after purchasing an additional 427,337 shares in the last quarter. Finally, Farallon Capital Management LLC purchased a new stake in Waystar during the 4th quarter worth about $49,251,000.

Waystar Stock Up 1.1%

NASDAQ WAY traded up $0.42 on Wednesday, reaching $37.46. The stock had a trading volume of 1,238,368 shares, compared to its average volume of 1,540,843. The company has a market capitalization of $6.53 billion, a price-to-earnings ratio of 39.05, a P/E/G ratio of 0.69 and a beta of 0.78. The business has a 50 day moving average price of $36.89 and a 200 day moving average price of $38.14. 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 1 year low of $25.76 and a 1 year high of $48.11.

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

Insider Activity

In other Waystar news, CEO Matthew J. Hawkins sold 46,667 shares of the 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 transaction, the chief executive officer directly owned 764,131 shares in the company, valued at approximately $26,484,780.46. This trade represents a 5.76% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the firm's 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 completion of the transaction, the chief marketing officer owned 193,261 shares in the company, valued at $7,152,589.61. This represents a 1.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 246,411 shares of company stock worth $9,110,688. 4.10% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on WAY. 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. Truist Financial raised their price target on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Mizuho initiated coverage on Waystar in a research note on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target on the stock. Finally, TD Cowen raised Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Two analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $44.73.

About Waystar

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