Millennium Management LLC Purchases 215,487 Shares of Waystar Holding Corp. $WAY

Key Points

• Millennium Management LLC increased its stake in Waystar Holding Corp. by 32.6%, purchasing an additional 215,487 shares and now owns a total of 876,095 shares worth approximately $32.7 million.
• Recent trading by insiders includes Christopher L. Schremser selling 8,623 shares and Eric L. Sinclair III selling 19,404 shares, reflecting a decrease in their respective holdings.
• Waystar reported a quarterly EPS of $0.36, exceeding analyst expectations, and experienced a 15.4% year-over-year revenue growth of $270.65 million.

Millennium Management LLC lifted its position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 32.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 876,095 shares of the company's stock after acquiring an additional 215,487 shares during the quarter. Millennium Management LLC owned 0.51% of Waystar worth $32,731,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Waystar by 91.1% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 46,911 shares of the company's stock worth $1,753,000 after purchasing an additional 22,364 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Waystar in the first quarter worth about $15,837,000. Cinctive Capital Management LP bought a new position in Waystar in the first quarter worth about $2,922,000. AQR Capital Management LLC bought a new position in Waystar in the first quarter worth about $203,000. Finally, PDT Partners LLC bought a new position in Waystar in the first quarter worth about $1,446,000.

Insiders Place Their Bets

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the company's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $34.49, for a total value of $297,407.27. Following the sale, the chief technology officer owned 438,044 shares in the company, valued at approximately $15,108,137.56. This represents a 1.93% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the company's stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $40.03, for a total value of $776,742.12. Following the transaction, the insider directly owned 474,826 shares of the company's stock, valued at approximately $19,007,284.78. The trade was a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 342,192 shares of company stock worth $12,942,609. Corporate insiders own 4.10% of the company's stock.

Waystar Price Performance

Shares of NASDAQ WAY opened at $40.50 on Thursday. The business's 50 day moving average price is $36.83 and its 200 day moving average price is $37.99. The firm has a market cap of $7.06 billion, a P/E ratio of 84.38, a P/E/G ratio of 0.75 and a beta of 0.78. Waystar Holding Corp. has a 52 week low of $25.76 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.

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

Analyst Upgrades and Downgrades

WAY has been the subject of a number of recent research reports. Mizuho initiated coverage on shares of Waystar in a report on Monday, June 30th. They issued an "outperform" rating and a $48.00 target price for the company. Citigroup initiated coverage on shares of Waystar in a report on Wednesday, June 25th. They issued a "buy" rating and a $45.00 target price for the company. TD Cowen upgraded Waystar to a "strong-buy" rating in a research note on Thursday, June 5th. Truist Financial boosted 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. Finally, Baird R W upgraded Waystar to a "strong-buy" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating and eleven have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $44.67.

Waystar Profile

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

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