Twin Tree Management LP Invests $2.93 Million in Waystar Holding Corp. $WAY

Twin Tree Management LP acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 71,561 shares of the company’s stock, valued at approximately $2,925,000.

Other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. lifted its position in shares of Waystar by 170.4% during the 1st quarter. Victory Capital Management Inc. now owns 178,024 shares of the company’s stock worth $6,651,000 after purchasing an additional 112,179 shares during the last quarter. Teacher Retirement System of Texas lifted its position in Waystar by 107.9% in the first quarter. Teacher Retirement System of Texas now owns 40,042 shares of the company’s stock valued at $1,496,000 after acquiring an additional 20,780 shares during the last quarter. Amalgamated Bank lifted its position in Waystar by 84.1% in the first quarter. Amalgamated Bank now owns 2,716 shares of the company’s stock valued at $101,000 after acquiring an additional 1,241 shares during the last quarter. Vanguard Group Inc. lifted its position in Waystar by 62.1% in the first quarter. Vanguard Group Inc. now owns 8,090,547 shares of the company’s stock valued at $302,263,000 after acquiring an additional 3,099,211 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. purchased a new stake in Waystar in the first quarter valued at $212,000.

Wall Street Analyst Weigh In

WAY has been the topic of a number of recent research reports. Baird R W upgraded shares of Waystar to a “strong-buy” rating in a research note on Friday, September 5th. Citigroup initiated coverage on shares of Waystar in a research note on Thursday, September 18th. They issued an “outperform” rating on the stock. JMP Securities assumed coverage on shares of Waystar in a research note on Thursday, September 18th. They issued a “market outperform” rating and a $48.00 price objective on the stock. Barclays assumed coverage on shares of Waystar in a research note on Tuesday. They set an “overweight” rating and a $50.00 price target on the stock. Finally, Truist Financial boosted their price target on shares of Waystar from $50.00 to $51.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Three investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus target price of $45.50.

Insider Activity at Waystar

In other news, CFO Steven M. Oreskovich sold 16,666 shares of the stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $40.49, for a total value of $674,806.34. Following the sale, the chief financial officer directly owned 354,512 shares in the company, valued at $14,354,190.88. This represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the stock in a transaction that occurred on Monday, September 8th. The shares were sold at an average price of $40.03, for a total transaction of $776,742.12. Following the completion of the sale, the insider owned 474,826 shares in the company, valued at $19,007,284.78. This represents a 3.93% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,631,250 shares of company stock valued at $181,141,432 in the last ninety days. Company insiders own 4.10% of the company’s stock.

Waystar Trading Up 0.2%

Shares of WAY opened at $36.81 on Friday. The company has a current ratio of 3.43, a quick ratio of 3.43 and a debt-to-equity ratio of 0.39. The firm’s 50-day moving average is $37.26 and its two-hundred day moving average is $37.73. Waystar Holding Corp. has a twelve month low of $26.95 and a twelve month high of $48.11. The firm has a market capitalization of $6.41 billion, a P/E ratio of 76.69, a PEG ratio of 0.67 and a beta of 0.69.

Waystar (NASDAQ:WAY) last issued its earnings results on Wednesday, July 30th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.33 by $0.03. Waystar had a net margin of 8.50% and a return on equity of 5.65%. The company had revenue of $270.65 million for the quarter, compared to analyst estimates of $255.26 million. During the same period in the prior year, the business posted $0.04 earnings per share. The firm’s revenue for the quarter was up 15.4% compared to the same quarter last year. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. On average, research analysts predict that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Waystar Profile

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