MRA Advisory Group Purchases New Position in Waystar Holding Corp. (NASDAQ:WAY)

MRA Advisory Group bought a new position in Waystar Holding Corp. (NASDAQ:WAY - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 10,096 shares of the company's stock, valued at approximately $377,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Barclays PLC increased its position in Waystar by 701.7% in the third quarter. Barclays PLC now owns 64,934 shares of the company's stock worth $1,811,000 after buying an additional 56,834 shares in the last quarter. Deutsche Bank AG increased its stake in Waystar by 64.9% during the fourth quarter. Deutsche Bank AG now owns 34,847 shares of the company's stock worth $1,279,000 after acquiring an additional 13,715 shares during the last quarter. Raymond James Financial Inc. bought a new stake in Waystar during the fourth quarter worth approximately $1,504,000. M&T Bank Corp grew its stake in shares of Waystar by 16.7% during the fourth quarter. M&T Bank Corp now owns 74,390 shares of the company's stock valued at $2,730,000 after buying an additional 10,644 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its position in Waystar by 3.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 377,710 shares of the company's stock valued at $13,862,000 after buying an additional 11,117 shares during the period.

Waystar Stock Performance

WAY stock traded down $0.44 during midday trading on Monday, reaching $40.72. The company had a trading volume of 1,015,822 shares, compared to its average volume of 1,386,284. The company has a quick ratio of 2.29, a current ratio of 2.55 and a debt-to-equity ratio of 0.40. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The stock has a 50 day moving average price of $38.21 and a 200 day moving average price of $37.92. The firm has a market capitalization of $7.05 billion and a PE ratio of 452.44.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, meeting analysts' consensus estimates of $0.32. The company had revenue of $256.44 million for the quarter, compared to analyst estimates of $248.47 million. The company's revenue was up 14.1% compared to the same quarter last year. Analysts anticipate that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

Insider Transactions at Waystar

In related news, CEO Matthew J. Hawkins sold 140,164 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $39.03, for a total value of $5,470,600.92. Following the completion of the transaction, the chief executive officer now owns 764,131 shares of the company's stock, valued at $29,824,032.93. This represents a 15.50% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Canada Pension Plan Investment sold 4,111,357 shares of the business's stock in a transaction that occurred on Friday, May 16th. The stock was sold at an average price of $37.39, for a total transaction of $153,723,638.23. Following the completion of the transaction, the insider now owns 25,580,929 shares of the company's stock, valued at $956,470,935.31. This trade represents a 13.85% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,655,997 shares of company stock valued at $324,170,981. 4.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WAY. Barclays cut their target price on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Canaccord Genuity Group dropped their price objective on shares of Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a report on Thursday, May 1st. The Goldman Sachs Group increased their price target on shares of Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a report on Wednesday, February 19th. Truist Financial set a $50.00 price objective on shares of Waystar and gave the stock a "buy" rating in a research report on Wednesday, May 7th. Finally, TD Cowen upgraded Waystar to a "strong-buy" rating in a report on Thursday. Twelve research analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $40.50.

Waystar Profile

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