Penn Capital Management Company LLC Cuts Position in Waystar Holding Corp. (NASDAQ:WAY)

Penn Capital Management Company LLC cut its holdings in Waystar Holding Corp. (NASDAQ:WAY - Free Report) by 27.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 459,408 shares of the company's stock after selling 170,555 shares during the quarter. Waystar makes up approximately 1.7% of Penn Capital Management Company LLC's holdings, making the stock its 4th largest holding. Penn Capital Management Company LLC owned about 0.27% of Waystar worth $16,860,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. RiverPark Advisors LLC increased its position in shares of Waystar by 25.5% during the fourth quarter. RiverPark Advisors LLC now owns 3,498 shares of the company's stock valued at $128,000 after buying an additional 710 shares during the period. Fuller & Thaler Asset Management Inc. bought a new stake in shares of Waystar during the fourth quarter valued at approximately $56,804,000. Price T Rowe Associates Inc. MD raised its holdings in Waystar by 21.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 17,271 shares of the company's stock worth $634,000 after purchasing an additional 3,070 shares in the last quarter. MetLife Investment Management LLC lifted its position in Waystar by 6.8% during the fourth quarter. MetLife Investment Management LLC now owns 26,493 shares of the company's stock valued at $972,000 after buying an additional 1,678 shares during the period. Finally, First Trust Advisors LP boosted its holdings in shares of Waystar by 3.4% during the 4th quarter. First Trust Advisors LP now owns 55,430 shares of the company's stock valued at $2,034,000 after buying an additional 1,842 shares in the last quarter.

Analyst Ratings Changes

WAY has been the subject of a number of recent research reports. Barclays lowered their price target on shares of Waystar from $50.00 to $45.00 and set an "overweight" rating for the company in a research report on Monday, April 14th. The Goldman Sachs Group boosted their price target on Waystar from $44.00 to $52.00 and gave the stock a "buy" rating in a research report on Wednesday, February 19th. Jefferies Financial Group began coverage on shares of Waystar in a research note on Tuesday, February 11th. They set a "buy" rating and a $51.00 price objective for the company. Truist Financial started coverage on shares of Waystar in a report on Friday, March 14th. They issued a "buy" rating and a $45.00 price objective for the company. Finally, Canaccord Genuity Group lifted their target price on Waystar from $42.00 to $50.00 and gave the stock a "buy" rating in a report on Monday, February 24th. Twelve investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waystar has a consensus rating of "Buy" and an average price target of $40.33.

Waystar Stock Performance

NASDAQ:WAY traded up $0.33 on Tuesday, reaching $36.97. 621,720 shares of the company's stock traded hands, compared to its average volume of 1,375,297. The company has a debt-to-equity ratio of 0.40, a current ratio of 2.55 and a quick ratio of 2.29. The stock has a 50-day simple moving average of $38.02 and a 200-day simple moving average of $35.83. Waystar Holding Corp. has a 12 month low of $20.26 and a 12 month high of $48.11.

Waystar (NASDAQ:WAY - Get Free Report) last posted its quarterly earnings results on Tuesday, February 18th. The company reported $0.26 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to the consensus estimate of $232.29 million. On average, research analysts predict that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insider Buying and Selling at Waystar

In other Waystar news, major shareholder Canada Pension Plan Investment sold 7,517,168 shares of Waystar stock in a transaction on Monday, February 24th. The shares were sold at an average price of $40.00, for a total value of $300,686,720.00. Following the completion of the transaction, the insider now directly owns 29,692,286 shares of the company's stock, valued at $1,187,691,440. This trade represents a 20.20 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CMO Melissa F. (Missy) Miller sold 3,400 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the sale, the chief marketing officer now owns 43,478 shares in the company, valued at $1,832,597.70. This represents a 7.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,411,461 shares of company stock valued at $528,743,995 in the last 90 days.

About Waystar

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