Waystar (NASDAQ:WAY) Insider T. Craig Bridge Sells 85,000 Shares

Key Points

• T. Craig Bridge, an insider at Waystar, sold 85,000 shares at an average price of $40.06, totaling over $3.4 million, reducing his ownership stake by 12.72%.
• Waystar's stock is currently trading at $40.20, down 1.7% recently, with a market capitalization of $7 billion and a 12-month trading range between $25.76 and $48.11.
• Analysts have a generally positive outlook on Waystar, with multiple firms issuing a rating of "buy" or "strong-buy" and an average target price of $44.67.

Waystar Holding Corp. (NASDAQ:WAY - Get Free Report) insider T. Craig Bridge sold 85,000 shares of the stock in a transaction on Monday, September 8th. The stock was sold at an average price of $40.06, for a total value of $3,405,100.00. Following the completion of the sale, the insider directly owned 583,355 shares in the company, valued at approximately $23,369,201.30. This represents a 12.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

T. Craig Bridge also recently made the following trade(s):

• On Monday, July 21st, T. Craig Bridge sold 85,000 shares of Waystar stock. The stock was sold at an average price of $37.09, for a total value of $3,152,650.00.

Waystar Stock Down 1.7%

Shares of NASDAQ WAY traded down $0.69 during trading on Wednesday, reaching $40.20. The company had a trading volume of 1,312,212 shares, compared to its average volume of 1,848,767. The business's 50-day moving average is $36.80 and its 200 day moving average is $37.98. Waystar Holding Corp. has a 12-month low of $25.76 and a 12-month high of $48.11. The company has a quick ratio of 3.43, a current ratio of 3.43 and a debt-to-equity ratio of 0.39. The stock has a market cap of $7.00 billion, a PE ratio of 83.93, a P/E/G ratio of 0.75 and a beta of 0.78.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Central Pacific Bank Trust Division purchased a new stake in Waystar during the 2nd quarter valued at approximately $33,000. Nisa Investment Advisors LLC increased its stake in Waystar by 50.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company's stock worth $44,000 after acquiring an additional 358 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in Waystar by 3,219.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company's stock worth $57,000 after acquiring an additional 1,352 shares during the last quarter. State of Wyoming bought a new stake in Waystar during the first quarter worth approximately $54,000. Finally, Quarry LP bought a new stake in Waystar during the first quarter worth approximately $60,000.

Analyst Ratings Changes

A number of equities analysts have weighed in on WAY shares. Robert W. Baird began coverage on Waystar in a research report on Friday, September 5th. They issued an "outperform" rating and a $44.00 target price for the company. Citigroup initiated coverage on shares of Waystar in a report on Wednesday, June 25th. They set a "buy" rating and a $45.00 price objective for the company. TD Cowen raised shares of Waystar to a "strong-buy" rating in a research report on Thursday, June 5th. Baird R W upgraded shares of Waystar to a "strong-buy" rating in a research note on Friday, September 5th. Finally, Mizuho initiated coverage on Waystar in a research note on Monday, June 30th. They issued an "outperform" rating and a $48.00 price target on the stock. Three investment analysts have rated the stock with a Strong Buy rating and eleven have issued a Buy rating to the stock. Based on data from MarketBeat, Waystar presently has an average rating of "Buy" and an average 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.

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