Castlight Health Inc (CSLT) Stake Boosted by Fmr LLC
Fmr LLC lifted its holdings in Castlight Health Inc (NYSE:CSLT) by 2.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,620,881 shares of the software maker’s stock after acquiring an additional 254,616 shares during the period. Fmr LLC owned 9.16% of Castlight Health worth $53,639,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in shares of Castlight Health by 30.4% in the second quarter. BlackRock Inc. now owns 4,637,348 shares of the software maker’s stock worth $19,710,000 after acquiring an additional 1,081,140 shares during the period. Cortina Asset Management LLC bought a new position in shares of Castlight Health in the second quarter worth about $8,786,000. Gagnon Securities LLC boosted its stake in shares of Castlight Health by 34.8% in the second quarter. Gagnon Securities LLC now owns 1,919,275 shares of the software maker’s stock worth $8,157,000 after acquiring an additional 495,534 shares during the period. Cowen Prime Services LLC boosted its stake in shares of Castlight Health by 9.2% in the second quarter. Cowen Prime Services LLC now owns 1,754,106 shares of the software maker’s stock worth $7,455,000 after acquiring an additional 147,900 shares during the period. Finally, Gagnon Advisors LLC boosted its stake in shares of Castlight Health by 29.7% in the second quarter. Gagnon Advisors LLC now owns 1,169,056 shares of the software maker’s stock worth $4,968,000 after acquiring an additional 267,662 shares during the period. 49.84% of the stock is owned by hedge funds and other institutional investors.
In other Castlight Health news, CFO Mangini Siobhan Nolan sold 5,619 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The stock was sold at an average price of $5.18, for a total transaction of $29,106.42. Following the sale, the chief financial officer now directly owns 141,109 shares in the company, valued at $730,944.62. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Seth B. Cohen sold 17,800 shares of the company’s stock in a transaction that occurred on Friday, July 20th. The shares were sold at an average price of $5.41, for a total value of $96,298.00. Following the sale, the director now owns 297,716 shares in the company, valued at $1,610,643.56. The disclosure for this sale can be found here. Insiders sold 69,923 shares of company stock worth $345,846 over the last quarter. 22.58% of the stock is owned by company insiders.
Castlight Health (NYSE:CSLT) last posted its earnings results on Monday, July 30th. The software maker reported ($0.09) EPS for the quarter, hitting analysts’ consensus estimates of ($0.09). The company had revenue of $37.70 million for the quarter, compared to the consensus estimate of $36.85 million. Castlight Health had a negative return on equity of 22.89% and a negative net margin of 38.02%. The firm’s revenue for the quarter was up 15.6% on a year-over-year basis. During the same period in the previous year, the business earned ($0.07) earnings per share. analysts anticipate that Castlight Health Inc will post -0.3 earnings per share for the current year.
A number of equities analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed a “buy” rating and issued a $5.00 price objective on shares of Castlight Health in a research note on Friday, August 17th. Canaccord Genuity dropped their price objective on Castlight Health from $7.00 to $6.00 and set a “buy” rating for the company in a research note on Tuesday, July 31st. Chardan Capital lowered Castlight Health from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $6.00 to $4.80 in a research note on Tuesday, July 31st. ValuEngine downgraded Castlight Health from a “buy” rating to a “hold” rating in a research report on Monday, July 30th. Finally, Dougherty & Co boosted their target price on Castlight Health from $6.00 to $7.00 and gave the stock a “buy” rating in a research report on Monday, July 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $5.56.
Castlight Health Company Profile
Castlight Health, Inc provides a software-as-a-service platform used for health benefits navigation for employees in the United States. Its platform matches employees to the resources their employers make available to them; managing a condition; and assists them to manage their benefits. The company also offers communication and testing, implementation, and user customer support services.
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