Castlight Health (NYSE:CSLT) Trading Up 6.5%

Castlight Health Inc (NYSE:CSLT)’s stock price was up 6.5% during mid-day trading on Wednesday . The company traded as high as $1.64 and last traded at $1.63, approximately 411,940 shares changed hands during trading. A decline of 20% from the average daily volume of 513,300 shares. The stock had previously closed at $1.53.

A number of analysts have recently issued reports on CSLT shares. TheStreet cut Castlight Health from a “c-” rating to a “d+” rating in a report on Monday, August 19th. ValuEngine upgraded Castlight Health from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research cut Castlight Health from a “hold” rating to a “sell” rating in a report on Monday, August 5th. Finally, Cantor Fitzgerald lowered Castlight Health from an “overweight” rating to a “neutral” rating in a research report on Tuesday, July 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the company’s stock. Castlight Health presently has a consensus rating of “Hold” and an average target price of $4.50.

The firm has a 50-day moving average of $1.66 and a 200 day moving average of $3.00. The stock has a market capitalization of $222.23 million, a price-to-earnings ratio of -9.63 and a beta of 1.50. The company has a current ratio of 1.88, a quick ratio of 1.88 and a debt-to-equity ratio of 0.08.

Castlight Health (NYSE:CSLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported ($0.02) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.01). The company had revenue of $35.90 million for the quarter, compared to analyst estimates of $36.95 million. Castlight Health had a negative return on equity of 9.28% and a negative net margin of 19.68%. The business’s revenue was down 5.0% on a year-over-year basis. During the same period last year, the firm posted ($0.10) earnings per share. As a group, research analysts forecast that Castlight Health Inc will post -0.2 EPS for the current year.

In related news, CFO Mangini Siobhan Nolan sold 21,617 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.41, for a total transaction of $30,479.97. Following the transaction, the chief financial officer now directly owns 281,610 shares of the company’s stock, valued at approximately $397,070.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Maeve O’meara sold 28,171 shares of the business’s stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.41, for a total value of $39,721.11. Following the transaction, the executive vice president now directly owns 322,775 shares in the company, valued at $455,112.75. The disclosure for this sale can be found here. Insiders have sold a total of 60,858 shares of company stock worth $90,961 over the last three months. 17.37% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in shares of Castlight Health by 4.6% in the 1st quarter. FMR LLC now owns 15,952,562 shares of the software maker’s stock valued at $59,823,000 after purchasing an additional 705,543 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Castlight Health by 15.2% in the 2nd quarter. Vanguard Group Inc. now owns 7,878,814 shares of the software maker’s stock valued at $25,449,000 after purchasing an additional 1,038,771 shares in the last quarter. BlackRock Inc. raised its position in shares of Castlight Health by 18.2% in the 2nd quarter. BlackRock Inc. now owns 7,807,963 shares of the software maker’s stock valued at $25,220,000 after purchasing an additional 1,202,805 shares in the last quarter. Gagnon Securities LLC raised its position in shares of Castlight Health by 40.3% in the 1st quarter. Gagnon Securities LLC now owns 2,773,736 shares of the software maker’s stock valued at $10,402,000 after purchasing an additional 796,659 shares in the last quarter. Finally, Gagnon Advisors LLC raised its position in shares of Castlight Health by 63.4% in the 1st quarter. Gagnon Advisors LLC now owns 1,909,825 shares of the software maker’s stock valued at $7,162,000 after purchasing an additional 740,769 shares in the last quarter. 56.01% of the stock is currently owned by institutional investors.

About Castlight Health (NYSE:CSLT)

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 implementation, user and customer support, and marketplace services.

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