Zacks Investment Research Lowers Castlight Health (CSLT) to Hold
Zacks Investment Research lowered shares of Castlight Health (NYSE:CSLT) from a buy rating to a hold rating in a report issued on Thursday.
According to Zacks, “Castlight Health, Inc. operates as a provider of cloud-based software. Its enables enterprises to gain control over their rapidly escalating health care costs. The Company’s Enterprise Healthcare Cloud allows its customers to conquer the complexity of the existing health care system by providing personalized, actionable information to their employees, implementing technology-enabled benefit designs and integrating disparate systems and applications. Castlight Health, Inc. is headquartered in San Francisco, California. “
Other analysts have also recently issued research reports about the stock. Cantor Fitzgerald upgraded shares of Castlight Health from a neutral rating to an overweight rating and set a $5.00 target price on the stock in a report on Tuesday, January 30th. BidaskClub upgraded shares of Castlight Health from a sell rating to a hold rating in a report on Thursday, October 12th. Canaccord Genuity restated a buy rating and set a $7.00 target price on shares of Castlight Health in a report on Thursday, October 26th. Finally, Chardan Capital dropped their target price on shares of Castlight Health from $6.50 to $6.30 and set a buy rating on the stock in a report on Thursday, October 26th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $5.11.
In other news, CFO Mangini Siobhan Nolan sold 8,866 shares of the business’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $3.70, for a total transaction of $32,804.20. Following the sale, the chief financial officer now owns 78,561 shares in the company, valued at approximately $290,675.70. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John C. Doyle sold 13,686 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $3.71, for a total transaction of $50,775.06. Following the completion of the transaction, the chief executive officer now owns 123,705 shares in the company, valued at approximately $458,945.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,778 shares of company stock worth $84,411. Company insiders own 37.43% of the company’s stock.
Institutional investors have recently made changes to their positions in the stock. Voya Investment Management LLC boosted its stake in Castlight Health by 25.4% in the 2nd quarter. Voya Investment Management LLC now owns 26,929 shares of the software maker’s stock worth $112,000 after purchasing an additional 5,453 shares in the last quarter. Nationwide Fund Advisors boosted its stake in Castlight Health by 49.5% in the 2nd quarter. Nationwide Fund Advisors now owns 36,418 shares of the software maker’s stock worth $151,000 after purchasing an additional 12,061 shares in the last quarter. First Quadrant L P CA bought a new position in Castlight Health in the 4th quarter worth about $167,000. Stifel Financial Corp boosted its stake in Castlight Health by 12.3% in the 2nd quarter. Stifel Financial Corp now owns 41,000 shares of the software maker’s stock worth $171,000 after purchasing an additional 4,500 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new position in Castlight Health in the 2nd quarter worth about $193,000. Institutional investors own 42.51% of the company’s stock.
WARNING: “Zacks Investment Research Lowers Castlight Health (CSLT) to Hold” was first posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this news story on another website, it was illegally stolen and reposted in violation of US and international copyright laws. The legal version of this news story can be accessed at https://www.thecerbatgem.com/2018/02/04/zacks-investment-research-lowers-castlight-health-cslt-to-hold.html.
Castlight Health Company Profile
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 technology offering aggregates data and applies analytics to make healthcare data transparent.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Castlight Health Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Castlight Health and related companies with MarketBeat.com's FREE daily email newsletter.