Waystar Holding Corp. (NASDAQ:WAY) Sees Large Decrease in Short Interest

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totalling 4,010,000 shares, a drop of 42.0% from the March 31st total of 6,910,000 shares. Approximately 4.2% of the company's shares are sold short. Based on an average trading volume of 2,130,000 shares, the days-to-cover ratio is presently 1.9 days.

Waystar Stock Down 1.0 %

Waystar stock opened at $36.64 on Tuesday. Waystar has a fifty-two week low of $20.26 and a fifty-two week high of $48.11. The company's 50-day moving average is $38.02 and its 200-day moving average is $35.83. 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 Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. On average, analysts anticipate that Waystar will post 0.39 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Jefferies Financial Group initiated coverage on shares of Waystar in a research report on Tuesday, February 11th. They set a "buy" rating and a $51.00 price objective for the company. Bank of America increased their target price on Waystar from $36.00 to $43.00 and gave the stock a "buy" rating in a report on Monday, January 6th. Truist Financial began coverage on Waystar in a report on Friday, March 14th. They issued a "buy" rating and a $45.00 price target on the stock. Canaccord Genuity Group lifted their target price on Waystar from $42.00 to $50.00 and gave the company a "buy" rating in a research report on Monday, February 24th. Finally, The Goldman Sachs Group upped 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. Twelve analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average price target of $40.33.

Insider Buying and Selling

In other news, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $36.36, for a total transaction of $1,696,812.12. Following the transaction, the chief executive officer now owns 500,000 shares in the company, valued at $18,180,000. The trade was a 8.54 % decrease in their position. 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 7,517,168 shares of the business's stock in a transaction that occurred 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 owns 29,692,286 shares of the company's stock, valued at $1,187,691,440. This represents a 20.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 13,411,461 shares of company stock valued at $528,743,995 in the last 90 days.

Hedge Funds Weigh In On Waystar

Several institutional investors and hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC acquired a new position in Waystar in the 4th quarter valued at about $25,000. Mark Sheptoff Financial Planning LLC acquired a new position in shares of Waystar in the fourth quarter valued at approximately $48,000. Gen Wealth Partners Inc bought a new position in shares of Waystar during the fourth quarter worth approximately $92,000. Amalgamated Bank lifted its holdings 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 last quarter. Finally, KBC Group NV bought a new stake in Waystar in the 1st quarter valued at $109,000.

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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