Magnetar Financial LLC Acquires Shares of 116,048 Waystar Holding Corp. (NASDAQ:WAY)

Magnetar Financial LLC acquired a new position in shares of Waystar Holding Corp. (NASDAQ:WAY) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 116,048 shares of the company’s stock, valued at approximately $2,495,000. Magnetar Financial LLC owned approximately 0.07% of Waystar at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. American Century Companies Inc. acquired a new stake in shares of Waystar in the 2nd quarter valued at $28,357,000. Canada Pension Plan Investment Board acquired a new position in Waystar in the second quarter valued at approximately $800,003,000. TD Asset Management Inc bought a new position in Waystar in the second quarter valued at approximately $1,633,000. Federated Hermes Inc. acquired a new stake in shares of Waystar during the second quarter worth $430,000. Finally, Sei Investments Co. bought a new position in Waystar during the second quarter worth about $1,435,000.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Royal Bank of Canada boosted their price target on shares of Waystar from $27.00 to $31.00 and gave the company an “outperform” rating in a report on Friday, September 6th. Canaccord Genuity Group assumed coverage on shares of Waystar in a research report on Tuesday, July 2nd. They set a “buy” rating and a $30.00 price target on the stock. JPMorgan Chase & Co. lifted their target price on Waystar from $24.00 to $27.00 and gave the stock an “overweight” rating in a research note on Monday, August 19th. Barclays initiated coverage on Waystar in a research note on Tuesday, July 2nd. They issued an “overweight” rating and a $24.00 price target on the stock. Finally, Evercore ISI raised their price objective on shares of Waystar from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Thursday, August 8th. Eleven investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $28.90.

Waystar Stock Performance

NASDAQ:WAY opened at $27.33 on Tuesday. Waystar Holding Corp. has a one year low of $20.26 and a one year high of $28.57. The stock’s 50 day simple moving average is $25.10.

Waystar (NASDAQ:WAY) last announced its earnings results on Wednesday, August 7th. The company reported $0.04 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.05. The firm had revenue of $234.50 million for the quarter, compared to the consensus estimate of $216.25 million. During the same period in the prior year, the business earned ($0.07) EPS. Waystar’s quarterly revenue was up 19.6% on a year-over-year basis. On average, analysts expect that Waystar Holding Corp. will post -0.08 earnings per share for the current fiscal year.

Waystar Company Profile

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