Northern Trust Corp cut its stake in Castlight Health Inc (NYSE:CSLT) by 3.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 941,337 shares of the software maker’s stock after selling 30,966 shares during the quarter. Northern Trust Corp owned 0.67% of Castlight Health worth $2,042,000 at the end of the most recent quarter.
Several other hedge funds also recently made changes to their positions in CSLT. BlackRock Inc. increased its stake in shares of Castlight Health by 24.5% in the 3rd quarter. BlackRock Inc. now owns 5,774,330 shares of the software maker’s stock valued at $15,589,000 after acquiring an additional 1,136,982 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Castlight Health by 199.0% in the 3rd quarter. Dimensional Fund Advisors LP now owns 789,163 shares of the software maker’s stock valued at $2,130,000 after acquiring an additional 525,259 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of Castlight Health by 61.4% in the 3rd quarter. Allianz Asset Management GmbH now owns 79,770 shares of the software maker’s stock valued at $215,000 after acquiring an additional 30,354 shares during the last quarter. Jane Street Group LLC bought a new stake in shares of Castlight Health in the 3rd quarter valued at about $167,000. Finally, AQR Capital Management LLC bought a new stake in shares of Castlight Health in the 3rd quarter valued at about $1,030,000. 49.30% of the stock is owned by institutional investors.
Separately, Zacks Investment Research raised Castlight Health from a “hold” rating to a “strong-buy” rating and set a $4.50 price target for the company in a research note on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the company. The company has an average rating of “Hold” and an average target price of $5.06.
NYSE:CSLT traded up $0.09 during trading hours on Wednesday, reaching $3.45. 279,200 shares of the stock were exchanged, compared to its average volume of 447,502. The company has a market cap of $494.50 million, a P/E ratio of -21.56 and a beta of 1.56. The company has a quick ratio of 1.87, a current ratio of 1.87 and a debt-to-equity ratio of 0.09. Castlight Health Inc has a twelve month low of $1.86 and a twelve month high of $5.95.
Castlight Health (NYSE:CSLT) last announced its quarterly earnings results on Thursday, February 28th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.02. The business had revenue of $42.10 million during the quarter, compared to the consensus estimate of $40.61 million. Castlight Health had a negative return on equity of 11.47% and a negative net margin of 23.04%. As a group, analysts anticipate that Castlight Health Inc will post -0.12 earnings per share for the current fiscal year.
In other Castlight Health news, EVP Neeraj Gupta sold 8,738 shares of the stock in a transaction on Thursday, May 16th. The stock was sold at an average price of $3.61, for a total transaction of $31,544.18. Following the transaction, the executive vice president now owns 275,255 shares in the company, valued at approximately $993,670.55. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 32,538 shares of company stock worth $120,396 in the last quarter. Company insiders own 17.37% of the company’s stock.
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About Castlight Health
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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