Kornitzer Capital Management Inc. KS Invests $4.25 Million in Waystar Holding Corp. $WAY

Key Points

• Kornitzer Capital Management Inc. invested approximately $4.25 million in Waystar Holding Corp. during the second quarter, acquiring 103,890 shares, which represents about 0.06% of the company's total shares.
• Waystar has seen an influx of institutional investments, with several hedge funds purchasing new positions, including Central Pacific Bank's acquisition of $33,000 worth of shares.
• Brokerages have given Waystar a promising outlook, with analysts setting a target price of $48.00, and a consensus rating of "Buy," indicating widespread confidence in the company's performance.

Kornitzer Capital Management Inc. KS purchased a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 103,890 shares of the company's stock, valued at approximately $4,246,000. Kornitzer Capital Management Inc. KS owned approximately 0.06% of Waystar at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division purchased a new position in shares of Waystar in the second quarter worth about $33,000. State of Wyoming purchased a new position in shares of Waystar in the first quarter worth about $54,000. Quarry LP purchased a new position in shares of Waystar in the first quarter worth about $60,000. Amalgamated Bank lifted its stake in shares of Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after buying an additional 1,241 shares in the last quarter. Finally, KBC Group NV purchased a new position in Waystar during the first quarter worth about $109,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on WAY. Citizens Jmp began coverage on shares of Waystar in a research note on Thursday, September 18th. They set a "mkt outperform" rating and a $48.00 target price on the stock. JMP Securities began coverage on shares of Waystar in a research note on Thursday, September 18th. They set a "market outperform" rating and a $48.00 target price on the stock. Mizuho began coverage on shares of Waystar in a research note on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Citigroup began coverage on shares of Waystar in a research note on Thursday, September 18th. They set an "outperform" rating on the stock. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Waystar in a research note on Friday. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Buy" and an average price target of $45.50.

Insider Transactions at Waystar

In related news, insider T. Craig Bridge sold 85,000 shares of the company's stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $40.06, for a total transaction of $3,405,100.00. Following the sale, the insider directly owned 583,355 shares of the company's stock, valued at $23,369,201.30. This represents a 12.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $40.03, for a total transaction of $776,742.12. Following the sale, the insider owned 474,826 shares in the company, valued at approximately $19,007,284.78. This trade represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 4,546,249 shares of company stock valued at $177,987,193. 4.10% of the stock is owned by corporate insiders.

Waystar Stock Performance

Shares of WAY stock opened at $38.97 on Friday. The firm's 50 day moving average price is $37.57 and its 200-day moving average price is $37.81. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43. Waystar Holding Corp. has a one year low of $27.18 and a one year high of $48.11. The firm has a market cap of $6.79 billion, a P/E ratio of 81.19, a P/E/G ratio of 0.71 and a beta of 0.69.

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