Burkehill Global Management LP Acquires New Shares in Waystar Holding Corp. (NASDAQ:WAY)

Burkehill Global Management LP bought a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 650,000 shares of the company’s stock, valued at approximately $23,855,000. Waystar comprises 2.3% of Burkehill Global Management LP’s holdings, making the stock its 11th biggest position. Burkehill Global Management LP owned about 0.38% of Waystar at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Amalgamated Bank acquired a new position in shares of Waystar during the 3rd quarter valued at about $41,000. RiverPark Advisors LLC bought a new stake in Waystar during the third quarter worth approximately $78,000. Jennison Associates LLC grew its holdings in Waystar by 4.3% during the third quarter. Jennison Associates LLC now owns 1,129,164 shares of the company’s stock valued at $31,492,000 after purchasing an additional 46,264 shares during the last quarter. Smithfield Trust Co bought a new position in shares of Waystar in the third quarter valued at approximately $68,000. Finally, Charles Schwab Investment Management Inc. acquired a new stake in shares of Waystar in the third quarter worth $10,224,000.

Insider Buying and Selling

In related news, CMO Melissa F. (Missy) Miller sold 3,400 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $42.15, for a total transaction of $143,310.00. Following the completion of the sale, the chief marketing officer now owns 43,478 shares in the company, valued at $1,832,597.70. This trade represents a 7.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider T. Craig Bridge sold 182,914 shares of Waystar stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $42.15, for a total transaction of $7,709,825.10. Following the transaction, the insider now directly owns 519,658 shares of the company’s stock, valued at $21,903,584.70. This represents a 26.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 13,356,171 shares of company stock valued at $526,733,651 over the last quarter.

Waystar Stock Down 0.2 %

Shares of NASDAQ WAY opened at $36.88 on Thursday. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $48.11. The business has a fifty day simple moving average of $40.16 and a 200 day simple moving average of $33.44. The company has a debt-to-equity ratio of 0.40, a quick ratio of 2.29 and a current ratio of 2.55.

Waystar (NASDAQ:WAY) last announced its quarterly earnings data on Tuesday, February 18th. The company reported $0.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.11. The business had revenue of $244.10 million during the quarter, compared to analyst estimates of $232.29 million. As a group, equities research analysts expect that Waystar Holding Corp. will post 0.39 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WAY has been the topic of a number of research analyst reports. Raymond James upgraded shares of Waystar from an “outperform” rating to a “strong-buy” rating and set a $40.00 target price on the stock in a research note on Friday, November 22nd. Bank of America upped their price target on shares of Waystar from $36.00 to $43.00 and gave the company a “buy” rating in a report on Monday, January 6th. Jefferies Financial Group initiated coverage on Waystar in a research note on Tuesday, February 11th. They issued a “buy” rating and a $51.00 price objective on the stock. Canaccord Genuity Group increased their target price on Waystar from $42.00 to $50.00 and gave the company a “buy” rating in a research note on Monday, February 24th. Finally, Barclays lifted their price target on Waystar from $42.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 19th. Eleven analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Waystar currently has an average rating of “Buy” and a consensus price target of $40.36.

Waystar Company Profile

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