Tiptree Advisors LLC Buys 29,630 Shares of Waystar Holding Corp. $WAY

Tiptree Advisors LLC grew its stake in shares of Waystar Holding Corp. (NASDAQ:WAY) by 38.0% in the second quarter, HoldingsChannel.com reports. The firm owned 107,630 shares of the company’s stock after purchasing an additional 29,630 shares during the period. Waystar comprises about 3.4% of Tiptree Advisors LLC’s investment portfolio, making the stock its 14th largest holding. Tiptree Advisors LLC’s holdings in Waystar were worth $4,399,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division bought a new stake in Waystar during the 2nd quarter worth approximately $33,000. State of Wyoming bought a new position in shares of Waystar in the first quarter valued at approximately $54,000. Quarry LP bought a new position in shares of Waystar in the first quarter valued at approximately $60,000. Amalgamated Bank grew its holdings in shares of 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 in the last quarter. Finally, KBC Group NV bought a new position in shares of Waystar in the first quarter valued at approximately $109,000.

Waystar Price Performance

Waystar stock opened at $37.52 on Wednesday. Waystar Holding Corp. has a 12 month low of $26.95 and a 12 month high of $48.11. 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 business’s 50 day simple moving average is $37.41 and its 200 day simple moving average is $37.76. The company has a market cap of $6.54 billion, a price-to-earnings ratio of 78.17, a PEG ratio of 0.67 and a beta of 0.69.

Waystar (NASDAQ:WAY) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.33 by $0.03. Waystar had a return on equity of 5.65% and a net margin of 8.50%.The business had revenue of $270.65 million for the quarter, compared to the consensus estimate of $255.26 million. During the same quarter in the prior year, the business earned $0.04 earnings per share. Waystar’s revenue for the quarter was up 15.4% on a year-over-year basis. Waystar has set its FY 2025 guidance at 1.360-1.400 EPS. Sell-side analysts forecast that Waystar Holding Corp. will post 0.39 EPS for the current year.

Insiders Place Their Bets

In other Waystar news, Director Paul G. Moskowitz sold 4,295,139 shares of the business’s stock in a transaction on Friday, September 12th. The shares were sold at an average price of $39.21, for a total transaction of $168,412,400.19. Following the sale, the director owned 13,759,910 shares of the company’s stock, valued at $539,526,071.10. The trade was a 23.79% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric L. (Ric) Sinclair III sold 19,404 shares of the business’s stock in a transaction 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 sale, the insider directly owned 474,826 shares in the company, valued at $19,007,284.78. The trade was a 3.93% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,546,249 shares of company stock valued at $177,987,193 in the last quarter. 4.10% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on WAY. Mizuho began coverage on Waystar in a report on Monday, June 30th. They issued an “outperform” rating and a $48.00 target price for the company. Truist Financial upped their target price on Waystar from $50.00 to $51.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a report on Wednesday, October 8th. Citigroup began coverage on Waystar in a report on Thursday, September 18th. They issued an “outperform” rating for the company. Finally, Baird R W raised Waystar to a “strong-buy” rating in a report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $45.50.

About Waystar

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