Kornitzer Capital Management Inc. KS Purchases 68,490 Shares of Waystar Holding Corp. $WAY

Kornitzer Capital Management Inc. KS grew its position in Waystar Holding Corp. (NASDAQ:WAY) by 65.9% during the 3rd quarter, HoldingsChannel reports. The firm owned 172,380 shares of the company’s stock after purchasing an additional 68,490 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Waystar were worth $6,537,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Salomon & Ludwin LLC bought a new stake in shares of Waystar in the 3rd quarter valued at $25,000. First Horizon Corp acquired a new position in Waystar in the third quarter valued at about $38,000. Nisa Investment Advisors LLC increased its holdings in shares of Waystar by 50.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,065 shares of the company’s stock worth $44,000 after acquiring an additional 358 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Waystar by 3,219.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $57,000 after purchasing an additional 1,352 shares during the period. Finally, CWM LLC lifted its holdings in shares of Waystar by 515.8% during the 3rd quarter. CWM LLC now owns 2,100 shares of the company’s stock valued at $80,000 after purchasing an additional 1,759 shares in the last quarter.

Insider Activity at Waystar

In other news, CTO Christopher L. Schremser sold 8,623 shares of Waystar stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $36.12, for a total value of $311,462.76. Following the completion of the transaction, the chief technology officer owned 422,371 shares of the company’s stock, valued at $15,256,040.52. This trade represents a 2.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Eric L. (Ric) Sinclair III sold 40,225 shares of the business’s stock in a transaction dated Tuesday, January 20th. The stock was sold at an average price of $30.08, for a total transaction of $1,209,968.00. Following the transaction, the insider owned 474,826 shares in the company, valued at $14,282,766.08. This represents a 7.81% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 80,273 shares of company stock valued at $2,569,997. 4.10% of the stock is owned by corporate insiders.

Waystar Stock Performance

Shares of NASDAQ WAY opened at $28.22 on Wednesday. The stock has a market capitalization of $5.40 billion, a PE ratio of 45.52, a price-to-earnings-growth ratio of 0.37 and a beta of 0.76. Waystar Holding Corp. has a 52 week low of $28.15 and a 52 week high of $48.11. The stock has a 50 day moving average price of $32.82 and a 200 day moving average price of $35.51. The company has a debt-to-equity ratio of 0.38, a quick ratio of 3.89 and a current ratio of 3.89.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WAY. Wells Fargo & Company began coverage on Waystar in a research report on Thursday, January 8th. They issued an “overweight” rating and a $41.00 price objective for the company. Mizuho upped their price target on shares of Waystar from $48.00 to $50.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Zacks Research downgraded shares of Waystar from a “strong-buy” rating to a “hold” rating in a research report on Thursday, January 1st. Canaccord Genuity Group set a $54.00 price objective on shares of Waystar in a research report on Thursday, October 30th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Waystar in a research note on Wednesday, January 21st. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $46.64.

About Waystar

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.