Waystar Holding Corp. (NASDAQ:WAY) Short Interest Up 15,821.1% in July

Key Points

• Waystar Holding Corp. experienced an unprecedented increase in short interest of 15,821.1% in July, rising from 30,400 shares to 4,840,000 shares.
• The company's stock was down 2.5%, trading at $36.04 on the day, while the stock has a market capitalization of $6.28 billion and a price-to-earnings ratio of 75.00.
• Waystar reported earnings of $0.36 per share for the last quarter, surpassing estimates, and experienced a 15.4% increase in revenue year-over-year to $270.65 million.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) saw a large growth in short interest in July. As of July 15th, there was short interest totaling 4,840,000 shares, agrowthof15,821.1% from the June 30th total of 30,400 shares. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is presently 2.8 days. Approximately4.2% of the shares of the stock are sold short. Approximately4.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,720,000 shares, the short-interest ratio is presently 2.8 days.

Waystar Stock Down 2.5%

NASDAQ WAY traded down $0.94 on Friday, reaching $36.04. The stock had a trading volume of 714,464 shares, compared to its average volume of 1,865,229. The business has a 50 day moving average price of $38.43 and a 200 day moving average price of $38.85. The company has a current ratio of 3.12, a quick ratio of 3.12 and a debt-to-equity ratio of 0.39. Waystar has a 1 year low of $20.74 and a 1 year high of $48.11. The company has a market capitalization of $6.28 billion and a price-to-earnings ratio of 75.00.

Waystar (NASDAQ:WAY - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.33 by $0.03. The company had revenue of $270.65 million during the quarter, compared to the consensus estimate of $255.26 million. Waystar had a return on equity of 5.69% and a net margin of 8.50%. The firm's revenue was up 15.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.04 EPS. On average, analysts forecast that Waystar will post 0.39 EPS for the current fiscal year.

Insider Transactions at Waystar

In other news, insider Eric L. (Ric) Sinclair III sold 9,702 shares of the business's stock in a transaction on Monday, July 21st. The stock was sold at an average price of $37.10, for a total value of $359,944.20. Following the sale, the insider owned 490,870 shares of the company's stock, valued at approximately $18,211,277. The trade was a 1.94% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CTO Christopher L. Schremser sold 8,623 shares of the business's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $37.63, for a total value of $324,483.49. Following the completion of the sale, the chief technology officer directly owned 438,044 shares in the company, valued at $16,483,595.72. This represents a 1.93% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,778,726 shares of company stock worth $328,889,968 over the last 90 days. 4.10% of the stock is currently owned by corporate insiders.

Institutional Trading of Waystar

Several large investors have recently made changes to their positions in WAY. Vanguard Group Inc. raised its stake in Waystar by 62.1% during the 1st quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company's stock valued at $302,263,000 after purchasing an additional 3,099,211 shares during the last quarter. William Blair Investment Management LLC raised its holdings in Waystar by 23.9% in the 2nd quarter. William Blair Investment Management LLC now owns 5,239,365 shares of the company's stock valued at $214,133,000 after acquiring an additional 1,011,940 shares in the last quarter. ArrowMark Colorado Holdings LLC raised its holdings in Waystar by 2.3% in the 4th quarter. ArrowMark Colorado Holdings LLC now owns 3,482,238 shares of the company's stock valued at $127,798,000 after acquiring an additional 79,944 shares in the last quarter. Invesco Ltd. raised its holdings in Waystar by 9,107.1% in the 1st quarter. Invesco Ltd. now owns 2,040,285 shares of the company's stock valued at $76,225,000 after acquiring an additional 2,018,125 shares in the last quarter. Finally, Fuller & Thaler Asset Management Inc. raised its holdings in Waystar by 27.6% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 1,975,142 shares of the company's stock valued at $73,791,000 after acquiring an additional 427,337 shares in the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WAY shares. Mizuho started coverage on Waystar in a research report on Monday, June 30th. They set an "outperform" rating and a $48.00 target price on the stock. Canaccord Genuity Group cut 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. Citigroup started coverage on Waystar in a research report on Wednesday, June 25th. They set a "buy" rating and a $45.00 target price on the stock. Truist Financial upped their price target on Waystar from $50.00 to $51.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Finally, Barclays dropped their price target on Waystar from $50.00 to $45.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Twelve analysts have rated the stock with a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Waystar currently has an average rating of "Buy" and an average price target of $42.31.

About Waystar

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

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