Waystar Holding Corp. $WAY is Seven Grand Managers LLC's 6th Largest Position

Key Points

• Seven Grand Managers LLC significantly increased its stake in Waystar Holding Corp. by purchasing an additional 350,000 shares, raising its overall holdings by 233.3%.
• Waystar reported a 15.4% year-over-year revenue increase during its latest quarterly earnings, with earnings per share of $0.36, surpassing estimates.
• Several hedge funds, including Vanguard Group and Invesco Ltd., also increased their positions in Waystar, indicating growing institutional interest in the stock.

Seven Grand Managers LLC boosted its holdings in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 233.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 500,000 shares of the company's stock after buying an additional 350,000 shares during the quarter. Waystar makes up approximately 4.4% of Seven Grand Managers LLC's investment portfolio, making the stock its 6th largest position. Seven Grand Managers LLC owned approximately 0.29% of Waystar worth $18,680,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Gen Wealth Partners Inc acquired a new position in shares of Waystar in the fourth quarter valued at approximately $92,000. Amalgamated Bank grew its position in shares of Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company's stock valued at $101,000 after purchasing an additional 1,241 shares during the last quarter. KBC Group NV acquired a new position in shares of Waystar in the first quarter valued at approximately $109,000. Caitong International Asset Management Co. Ltd acquired a new position in shares of Waystar in the first quarter valued at approximately $127,000. Finally, RiverPark Advisors LLC grew its position in shares of Waystar by 25.5% in the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after purchasing an additional 710 shares during the last quarter.

Insider Buying and Selling

In other Waystar news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of Waystar stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $39.16, for a total transaction of $379,930.32. Following the transaction, the insider directly owned 490,870 shares of the company's stock, valued at approximately $19,222,469.20. The trade was a 1.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matthew J. Hawkins sold 197,847 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were sold at an average price of $38.53, for a total value of $7,623,044.91. Following the completion of the transaction, the chief executive officer directly owned 764,131 shares in the company, valued at $29,441,967.43. This represents a 20.57% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 583,175 shares of company stock valued at $22,202,083 over the last 90 days. 4.10% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on WAY shares. TD Cowen raised Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Citigroup assumed coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price target on the stock. Canaccord Genuity Group reduced their price target on Waystar from $50.00 to $47.00 and set a "buy" rating on the stock in a research report on Thursday, May 1st. Mizuho assumed coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price target on the stock. Finally, Truist Financial increased their price target on Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Two equities research analysts have rated the stock with a Strong Buy rating and ten have given a Buy rating to the company's stock. Based on data from MarketBeat.com, Waystar has an average rating of "Buy" and a consensus target price of $44.73.

Waystar Price Performance

Shares of NASDAQ WAY traded down $0.65 during mid-day trading on Tuesday, hitting $35.63. 957,041 shares of the stock traded hands, compared to its average volume of 1,845,534. 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 Holding Corp. has a twelve month low of $25.76 and a twelve month high of $48.11. The company has a market cap of $6.21 billion, a PE ratio of 74.23, a price-to-earnings-growth ratio of 0.66 and a beta of 0.79. The firm has a 50 day simple moving average of $37.35 and a two-hundred day simple moving average of $38.54.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million for the quarter, compared to the consensus estimate 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 last year, the business posted $0.04 EPS. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. As a group, equities research analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current fiscal year.

Waystar Company Profile

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