Waystar Holding Corp. (NASDAQ:WAY) Short Interest Update

Key Points

• Waystar Holding Corp. experienced a significant increase in short interest in September, reaching 8,710,000 shares, which is a 60.4% increase from the previous total.
• Insider sales included T. Craig Bridge selling 85,000 shares at an average price of $40.06, while CEO Matthew J. Hawkins sold 46,667 shares at $34.66, indicating a reduction in their stakes.
• Analysts have generally upgraded their ratings on Waystar, with the stock now having an average rating of "Buy" and a consensus target price of $45.50.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) saw a large increase in short interest during the month of September. As of September 30th, there was short interest totaling 8,710,000 shares, an increase of 60.4% from the September 15th total of 5,430,000 shares. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is presently 3.4 days. Approximately 7.2% of the shares of the company are short sold. Approximately 7.2% of the shares of the company are short sold. Based on an average daily trading volume, of 2,550,000 shares, the short-interest ratio is presently 3.4 days.

Insider Activity at Waystar

In other Waystar news, insider T. Craig Bridge sold 85,000 shares of the stock in a transaction that occurred on Monday, September 8th. The stock was sold at an average price of $40.06, for a total transaction of $3,405,100.00. Following the transaction, the insider owned 583,355 shares of the company's stock, valued at $23,369,201.30. This trade represents a 12.72% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Matthew J. Hawkins sold 46,667 shares of Waystar stock in a transaction on Tuesday, August 12th. The shares were sold at an average price of $34.66, for a total value of $1,617,478.22. Following the sale, the chief executive officer directly owned 764,131 shares in the company, valued at $26,484,780.46. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,546,249 shares of company stock worth $177,987,193 over the last quarter. 4.10% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Waystar

Hedge funds and other institutional investors have recently bought and sold shares of the company. Salomon & Ludwin LLC bought a new stake in shares of Waystar during the third quarter worth about $25,000. Central Pacific Bank Trust Division bought a new position in shares of Waystar during the 2nd quarter valued at approximately $33,000. Nisa Investment Advisors LLC grew its position in shares of Waystar by 50.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock valued at $44,000 after acquiring an additional 358 shares during the period. State of Wyoming bought a new position in shares of Waystar during the 1st quarter valued at approximately $54,000. Finally, EverSource Wealth Advisors LLC lifted its stake in shares of Waystar by 3,219.0% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock valued at $57,000 after buying an additional 1,352 shares in the last quarter.

Waystar Trading Up 1.5%

Shares of NASDAQ:WAY opened at $37.52 on Wednesday. Waystar has a 52-week low of $26.95 and a 52-week high of $48.11. The company has a market capitalization of $6.54 billion, a P/E ratio of 78.17, a price-to-earnings-growth ratio of 0.67 and a beta of 0.69. The company has a 50-day simple moving average of $37.41 and a 200 day simple moving average of $37.76. The company has a debt-to-equity ratio of 0.39, a quick ratio of 3.43 and a current ratio of 3.43.

Waystar (NASDAQ:WAY - Get Free Report) last issued its quarterly earnings data 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 firm 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 for the quarter was up 15.4% compared to the same quarter last year. During the same period last year, the business posted $0.04 earnings per share. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Sell-side analysts forecast that Waystar will post 0.39 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on WAY shares. Wall Street Zen raised Waystar from a "hold" rating to a "buy" rating in a research report on Saturday, October 11th. Robert W. Baird started coverage on Waystar in a research note on Friday, September 5th. They issued an "outperform" rating and a $44.00 price objective on the stock. Citizens Jmp started coverage on Waystar in a research note on Thursday, September 18th. They set a "mkt outperform" rating and a $48.00 price target on the stock. Weiss Ratings restated a "hold (c)" rating on shares of Waystar in a research note on Wednesday, October 8th. Finally, Baird R W upgraded Waystar to a "strong-buy" rating in a research note on Friday, September 5th. Three analysts have rated the stock with a Strong Buy rating, twelve have issued a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $45.50.

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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