Waystar Holding Corp. (NASDAQ:WAY) Sees Significant Decline in Short Interest

Waystar Holding Corp. (NASDAQ:WAY) was the recipient of a large decline in short interest in January. As of January 30th, there was short interest totaling 6,378,242 shares, a decline of 15.1% from the January 15th total of 7,514,927 shares. Based on an average daily trading volume, of 1,941,449 shares, the short-interest ratio is currently 3.3 days. Approximately 3.5% of the shares of the company are sold short. Approximately 3.5% of the shares of the company are sold short. Based on an average daily trading volume, of 1,941,449 shares, the short-interest ratio is currently 3.3 days.

Insider Activity

In other Waystar news, CTO Christopher L. Schremser sold 8,623 shares of the company’s stock in a transaction that occurred on Wednesday, December 10th. The shares were sold at an average price of $30.41, for a total value of $262,225.43. Following the completion of the transaction, the chief technology officer directly owned 422,371 shares in the company, valued at $12,844,302.11. This represents a 2.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the firm’s stock in a transaction on Tuesday, January 20th. The shares were sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the sale, the insider owned 474,826 shares in the company, valued at $14,282,766.08. The trade was a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 71,650 shares of company stock valued at $2,258,535 in the last ninety days. Corporate insiders own 4.10% of the company’s stock.

Institutional Trading of Waystar

A number of large investors have recently made changes to their positions in the business. Kennedy Capital Management LLC grew its position in Waystar by 0.5% in the fourth quarter. Kennedy Capital Management LLC now owns 106,207 shares of the company’s stock worth $3,478,000 after acquiring an additional 559 shares in the last quarter. Aurora Investment Counsel bought a new stake in shares of Waystar in the 4th quarter valued at approximately $1,974,000. Barclays PLC boosted its holdings in shares of Waystar by 10.0% in the 4th quarter. Barclays PLC now owns 177,248 shares of the company’s stock worth $5,805,000 after purchasing an additional 16,071 shares during the period. Bullseye Asset Management LLC increased its position in shares of Waystar by 22.6% during the 4th quarter. Bullseye Asset Management LLC now owns 114,002 shares of the company’s stock valued at $3,734,000 after purchasing an additional 21,000 shares during the last quarter. Finally, FORA Capital LLC purchased a new stake in Waystar during the 4th quarter valued at $241,000.

Wall Street Analysts Forecast Growth

WAY has been the subject of a number of analyst reports. BMO Capital Markets assumed coverage on Waystar in a research note on Thursday, November 13th. They issued an “outperform” rating and a $47.00 price target for the company. Zacks Research downgraded Waystar from a “strong-buy” rating to a “hold” rating in a research note on Thursday, January 1st. The Goldman Sachs Group set a $44.00 price target on Waystar in a research note on Wednesday, January 14th. Citigroup reduced their price objective on shares of Waystar from $49.00 to $46.00 and set a “buy” rating on the stock in a research report on Friday, January 9th. Finally, Wall Street Zen upgraded shares of Waystar from a “hold” rating to a “buy” rating in a research report on Saturday, February 7th. Two equities research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $45.50.

Waystar Stock Up 3.1%

NASDAQ WAY opened at $22.41 on Monday. The stock has a 50 day moving average price of $29.88 and a 200-day moving average price of $34.39. Waystar has a one year low of $21.45 and a one year high of $48.11. The company has a market capitalization of $4.29 billion, a P/E ratio of 36.15, a P/E/G ratio of 0.28 and a beta of 0.77. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Waystar Company Profile

Waystar (NASDAQ:WAY) is a leading provider of cloud-based revenue cycle management and payment solutions for healthcare organizations. The company’s unified platform streamlines the entire financial continuum of patient care, from eligibility verification and claim submission to payment reconciliation and patient billing. By automating key processes and improving claim accuracy, Waystar helps providers reduce administrative overhead, accelerate cash flow and enhance overall revenue performance.

At the core of Waystar’s offering is a SaaS-based architecture that integrates seamlessly with existing electronic health record (EHR) systems and payer networks.