Monashee Investment Management LLC Invests $9.34 Million in Waystar Holding Corp. $WAY

Key Points

• Monashee Investment Management LLC invested approximately $9.34 million in Waystar Holding Corp., acquiring 250,000 shares, making it the fund's 15th largest holding.
• Waystar's quarterly earnings beat analysts' expectations, reporting $0.36 earnings per share on revenues of $270.65 million, indicating a 15.4% year-over-year revenue growth.
• Analysts have mixed ratings for Waystar, with an average price target of $44.73, and two analysts rating it as a Strong Buy.

Monashee Investment Management LLC purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 250,000 shares of the company's stock, valued at approximately $9,340,000. Waystar comprises approximately 1.1% of Monashee Investment Management LLC's holdings, making the stock its 15th biggest holding. Monashee Investment Management LLC owned about 0.14% of Waystar as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. PNC Financial Services Group Inc. lifted its holdings in shares of Waystar by 2.1% during the first quarter. PNC Financial Services Group Inc. now owns 14,687 shares of the company's stock worth $549,000 after buying an additional 304 shares during the last quarter. RiverPark Advisors LLC lifted its holdings in shares of Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock worth $128,000 after buying an additional 710 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Waystar by 4.1% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,547 shares of the company's stock worth $901,000 after buying an additional 960 shares during the last quarter. Legato Capital Management LLC lifted its holdings in shares of Waystar by 8.4% during the first quarter. Legato Capital Management LLC now owns 12,398 shares of the company's stock worth $463,000 after buying an additional 960 shares during the last quarter. Finally, Amalgamated Bank lifted 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 worth $101,000 after buying an additional 1,241 shares during the last quarter.

Waystar Stock Performance

Shares of NASDAQ:WAY opened at $35.09 on Thursday. The business's fifty day moving average price is $37.14 and its two-hundred day moving average price is $38.50. Waystar Holding Corp. has a fifty-two week low of $25.76 and a fifty-two week high of $48.11. The stock has a market capitalization of $6.11 billion, a price-to-earnings ratio of 73.11, a price-to-earnings-growth ratio of 0.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.43 and a quick ratio of 3.43.

Waystar (NASDAQ:WAY - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating 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 firm had revenue of $270.65 million for the quarter, compared to analysts' expectations of $255.26 million. During the same period in the prior year, the business posted $0.04 earnings per share. The business's 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. As a group, analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Mizuho assumed coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective on the stock. Truist Financial boosted their price objective on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. TD Cowen upgraded Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. 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. Finally, Citigroup assumed coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a Strong Buy rating and ten have issued a Buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $44.73.

Insider Buying and Selling

In other news, CTO Christopher L. Schremser sold 8,623 shares of the stock in a transaction on Monday, August 11th. The stock was sold at an average price of $34.49, for a total transaction 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, 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 owned 682,843 shares in the company, valued at $25,326,646.87. The trade was a 11.07% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 581,022 shares of company stock valued at $22,078,500. 4.10% of the stock is currently owned by insiders.

Waystar Company Profile

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

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