Tiptree Advisors LLC Buys Shares of 78,000 Waystar Holding Corp. $WAY

Key Points

• Tiptree Advisors LLC invested approximately $2.91 million in Waystar Holding Corp., acquiring 78,000 shares during the first quarter, making it the 18th largest position in their investment portfolio.
• Multiple analysts have issued positive ratings for Waystar, with TD Cowen and Baird R W upgrading the shares to "strong-buy," while Citigroup set a price target of $45.00.
• Waystar reported a 15.4% increase in year-over-year revenue, generating $270.65 million in the last quarter, while earnings per share surpassed expectations at $0.36.

Tiptree Advisors LLC purchased a new position in shares of Waystar Holding Corp. (NASDAQ:WAY - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 78,000 shares of the company's stock, valued at approximately $2,914,000. Waystar accounts for 2.4% of Tiptree Advisors LLC's investment portfolio, making the stock its 18th largest holding.

Other large investors have also recently bought and sold shares of the company. State of Wyoming acquired a new stake in Waystar during the 1st quarter worth $54,000. Quarry LP acquired a new stake in Waystar during the 1st quarter worth $60,000. Gen Wealth Partners Inc acquired a new stake in Waystar during the 4th quarter worth $92,000. Amalgamated Bank boosted its stake in Waystar by 84.1% during the 1st quarter. Amalgamated Bank now owns 2,716 shares of the company's stock worth $101,000 after purchasing an additional 1,241 shares during the period. Finally, KBC Group NV acquired a new stake in Waystar during the 1st quarter worth $109,000.

Waystar Price Performance

Shares of WAY traded up $0.03 during trading hours on Tuesday, reaching $40.89. The company had a trading volume of 2,552,811 shares, compared to its average volume of 1,605,425. The firm has a 50 day simple moving average of $36.80 and a 200-day simple moving average of $37.98. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $7.12 billion, a price-to-earnings ratio of 85.19, a PEG ratio of 0.75 and a beta of 0.78. Waystar Holding Corp. has a 12-month low of $25.76 and a 12-month high of $48.11.

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

Insiders Place Their Bets

In other news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the stock in a transaction dated Wednesday, June 25th. The shares were sold at an average price of $40.22, for a total value of $390,214.44. Following the completion of the transaction, the insider owned 490,870 shares in the company, valued at $19,742,791.40. This trade represents a 1.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Matthew J. Hawkins sold 46,667 shares of the firm's stock in a transaction dated Tuesday, August 12th. The shares were sold at an average price of $34.66, for a total transaction of $1,617,478.22. Following the transaction, the chief executive officer owned 764,131 shares of the company's stock, valued at $26,484,780.46. This trade represents a 5.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 237,788 shares of company stock worth $8,760,767. Insiders own 4.10% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on WAY shares. Baird R W upgraded shares of Waystar to a "strong-buy" rating in a research note on Friday. Truist Financial upped their price objective on shares of Waystar from $50.00 to $51.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. TD Cowen upgraded shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Citigroup started coverage on shares of Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. Finally, Mizuho started coverage on shares of Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 price objective for the company. Three investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $44.67.

Waystar Company Profile

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