Jump Financial LLC Buys 254,084 Shares of Waystar Holding Corp. $WAY

Key Points

• Jump Financial LLC significantly increased its stake in Waystar Holding Corp. by 239.3%, acquiring an additional 254,084 shares during the first quarter, bringing its total ownership to 360,284 shares worth approximately $13.46 million.
• Insider T. Craig Bridge sold 85,000 shares at an average price of $37.09, resulting in an 11.07% decrease in their ownership, while insider Eric L. Sinclair III sold 9,702 shares at an average price of $35.11, leading to a 1.94% ownership decrease.
• Waystar received recent upgrades from analysts, with TD Cowen rating it a "strong-buy" while others set target prices ranging from $45 to $51, reflecting growing confidence in the company's performance.

Jump Financial LLC raised its stake in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 239.3% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 360,284 shares of the company's stock after purchasing an additional 254,084 shares during the quarter. Jump Financial LLC owned 0.21% of Waystar worth $13,460,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WAY. Gen Wealth Partners Inc bought a new position in shares of Waystar during the fourth quarter valued at approximately $92,000. Amalgamated Bank raised its holdings in shares of Waystar by 84.1% during the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after acquiring an additional 1,241 shares in the last quarter. KBC Group NV bought a new position in shares of Waystar during the first quarter valued at approximately $109,000. Caitong International Asset Management Co. Ltd bought a new position in shares of Waystar during the first quarter valued at approximately $127,000. Finally, Cambridge Investment Research Advisors Inc. bought a new position in shares of Waystar during the first quarter valued at approximately $212,000.

Insider Buying and Selling

In other news, insider T. Craig Bridge sold 85,000 shares of the stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.09, for a total value of $3,152,650.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $35.11, for a total value of $340,637.22. Following the completion of the sale, the insider directly owned 490,870 shares in the company, valued at approximately $17,234,445.70. This represents a 1.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 383,175 shares of company stock valued at $14,455,455. Insiders own 4.10% of the company's stock.

Analyst Ratings Changes

WAY has been the subject of a number of recent analyst reports. TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday, June 5th. Truist Financial upped their target price on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Canaccord Genuity Group decreased their target price on Waystar from $50.00 to $47.00 and set a "buy" rating for the company in a report on Thursday, May 1st. Mizuho initiated coverage on Waystar in a report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price for the company. Finally, Citigroup started coverage on Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price for the company. Two equities research analysts have rated the stock with a Strong Buy rating and ten have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus target price of $44.73.

Waystar Price Performance

WAY opened at $36.24 on Friday. The stock has a fifty day simple moving average of $37.01 and a two-hundred day simple moving average of $38.41. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The company has a market cap of $6.31 billion, a price-to-earnings ratio of 75.50, a price-to-earnings-growth ratio of 0.66 and a beta of 0.79. Waystar Holding Corp. has a 12-month low of $25.76 and a 12-month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data 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. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The business had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. During the same quarter in the prior year, the company earned $0.04 earnings per share. The firm's quarterly revenue was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Research analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

About Waystar

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

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