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

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

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in Waystar by 26.8% in the 4th quarter. Vanguard Group Inc. now owns 4,991,336 shares of the company's stock worth $183,182,000 after purchasing an additional 1,054,180 shares during the period. ArrowMark Colorado Holdings LLC increased its position in shares of Waystar by 2.3% during the fourth quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after buying an additional 79,944 shares during the period. Norges Bank purchased a new position in shares of Waystar during the 4th quarter worth approximately $119,387,000. Fuller & Thaler Asset Management Inc. purchased a new stake in Waystar in the fourth quarter worth $56,804,000. Finally, American Century Companies Inc. grew its holdings in Waystar by 0.4% in the fourth quarter. American Century Companies Inc. now owns 1,476,236 shares of the company's stock worth $54,178,000 after purchasing an additional 6,409 shares during the period.

Insider Activity

In related news, CEO Matthew J. Hawkins sold 46,667 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $36.36, for a total value of $1,696,812.12. Following the sale, the chief executive officer now owns 500,000 shares in the company, valued at $18,180,000. This represents a 8.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Paul G. Moskowitz sold 3,012,253 shares of the company's stock in a transaction on Friday, May 16th. The shares were sold at an average price of $37.39, for a total transaction of $112,628,139.67. Following the completion of the sale, the director now directly owns 18,742,283 shares in the company, valued at approximately $700,773,961.37. The trade was a 13.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,655,997 shares of company stock worth $324,170,981. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on WAY shares. Truist Financial set a $50.00 target price on Waystar and gave the stock a "buy" rating in a research note on Wednesday, May 7th. Barclays dropped their target price on 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 lowered their target price on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. The Goldman Sachs Group lifted their target price on shares of Waystar from $44.00 to $52.00 and gave the company a "buy" rating in a research note on Wednesday, February 19th. Finally, Jefferies Financial Group started coverage on shares of Waystar in a research note on Tuesday, February 11th. They issued a "buy" rating and a $51.00 price target on the stock. Twelve investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $40.50.

Waystar Trading Up 1.2%

Shares of NASDAQ WAY opened at $40.09 on Friday. The company has a market cap of $6.94 billion and a price-to-earnings ratio of 445.44. Waystar Holding Corp. has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The business's 50 day moving average price is $38.13 and its 200-day moving average price is $37.76. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported $0.32 EPS for the quarter, hitting the consensus estimate of $0.32. The firm had revenue of $256.44 million for the quarter, compared to analysts' expectations of $248.47 million. The business's quarterly revenue was up 14.1% on a year-over-year basis. On average, sell-side analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current year.

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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