Insider Selling: Castlight Health Inc. (CSLT) CRO Sells 5,570 Shares of Stock
Castlight Health Inc. (NYSE:CSLT) CRO John Mccracken sold 5,570 shares of Castlight Health stock in a transaction that occurred on Friday, November 18th. The stock was sold at an average price of $4.81, for a total value of $26,791.70. Following the completion of the transaction, the executive now directly owns 20,000 shares in the company, valued at $96,200. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.
John Mccracken also recently made the following trade(s):
- On Tuesday, November 15th, John Mccracken sold 46,008 shares of Castlight Health stock. The stock was sold at an average price of $5.01, for a total value of $230,500.08.
- On Monday, November 14th, John Mccracken sold 31,780 shares of Castlight Health stock. The stock was sold at an average price of $5.00, for a total value of $158,900.00.
- On Wednesday, November 16th, John Mccracken sold 99,371 shares of Castlight Health stock. The stock was sold at an average price of $5.02, for a total value of $498,842.42.
Shares of Castlight Health Inc. (NYSE:CSLT) traded down 3.06% during mid-day trading on Friday, reaching $4.75. The company had a trading volume of 268,707 shares. The stock’s market capitalization is $487.82 million. Castlight Health Inc. has a 12-month low of $2.54 and a 12-month high of $5.15. The firm’s 50 day moving average is $4.26 and its 200-day moving average is $4.13.
Castlight Health (NYSE:CSLT) last released its quarterly earnings data on Wednesday, November 2nd. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.09) by $0.04. The firm had revenue of $25.50 million for the quarter, compared to analyst estimates of $24.81 million. Castlight Health had a negative return on equity of 58.57% and a negative net margin of 73.57%. The business’s revenue for the quarter was up 30.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.17) earnings per share. On average, analysts expect that Castlight Health Inc. will post ($0.34) earnings per share for the current fiscal year.
Several brokerages have recently weighed in on CSLT. Zacks Investment Research raised Castlight Health from a “hold” rating to a “buy” rating and set a $4.25 price objective on the stock in a report on Tuesday, November 8th. Canaccord Genuity reissued a “hold” rating and set a $5.00 price objective on shares of Castlight Health in a report on Thursday, August 11th. Morgan Stanley reissued a “hold” rating and set a $4.00 price objective on shares of Castlight Health in a report on Thursday, August 25th. Finally, FBR & Co reissued a “hold” rating and set a $4.00 price objective on shares of Castlight Health in a report on Wednesday, August 10th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $4.58.
A number of hedge funds have recently added to or reduced their stakes in CSLT. Verition Fund Management LLC acquired a new stake in Castlight Health during the third quarter valued at about $396,000. Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Castlight Health by 112.0% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 44,100 shares of the company’s stock worth $183,000 after buying an additional 23,300 shares during the period. Endurant Capital Management LP raised its position in shares of Castlight Health by 138.3% in the third quarter. Endurant Capital Management LP now owns 184,826 shares of the company’s stock worth $769,000 after buying an additional 107,268 shares during the period. D. E. Shaw & Co. Inc. raised its position in shares of Castlight Health by 29.9% in the third quarter. D. E. Shaw & Co. Inc. now owns 567,600 shares of the company’s stock worth $2,361,000 after buying an additional 130,775 shares during the period. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Castlight Health during the third quarter worth $132,000. Hedge funds and other institutional investors own 51.71% of the company’s stock.
About Castlight Health
Castlight Health, Inc offers a health benefits platform that engages employees to make healthcare decisions, and enables employers to communicate and measure their benefit programs. The Company operates through cloud-based products segment. Its products deliver employee engagement and enable employers to integrate benefit programs into a single platform available to employees and their families.
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