Castlight Health Inc (CSLT) Position Boosted by Edge Wealth Management LLC

Edge Wealth Management LLC lifted its holdings in shares of Castlight Health Inc (NYSE:CSLT) by 13.2% in the fourth quarter, HoldingsChannel reports. The fund owned 119,625 shares of the software maker’s stock after purchasing an additional 13,950 shares during the period. Edge Wealth Management LLC’s holdings in Castlight Health were worth $260,000 at the end of the most recent quarter.

Several other institutional investors have also made changes to their positions in CSLT. Legal & General Group Plc raised its holdings in shares of Castlight Health by 224.0% during the third quarter. Legal & General Group Plc now owns 33,658 shares of the software maker’s stock valued at $91,000 after acquiring an additional 23,271 shares in the last quarter. Metropolitan Life Insurance Co. NY bought a new position in shares of Castlight Health during the second quarter valued at approximately $120,000. Dynamic Technology Lab Private Ltd bought a new position in shares of Castlight Health during the third quarter valued at approximately $136,000. Jane Street Group LLC bought a new position in shares of Castlight Health during the third quarter valued at approximately $167,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Castlight Health during the second quarter valued at approximately $170,000. Institutional investors own 48.69% of the company’s stock.

In related news, CEO John C. Doyle sold 18,519 shares of the company’s stock in a transaction on Monday, November 19th. The stock was sold at an average price of $2.69, for a total value of $49,816.11. Following the sale, the chief executive officer now directly owns 268,523 shares of the company’s stock, valued at $722,326.87. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Mangini Siobhan Nolan sold 13,997 shares of the stock in a transaction on Monday, November 19th. The stock was sold at an average price of $2.62, for a total value of $36,672.14. Following the completion of the sale, the chief financial officer now directly owns 192,058 shares in the company, valued at $503,191.96. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 92,112 shares of company stock worth $236,010. 22.58% of the stock is owned by insiders.

A number of equities analysts recently commented on the company. Zacks Investment Research upgraded Castlight Health from a “hold” rating to a “strong-buy” rating and set a $3.25 target price for the company in a report on Friday, November 9th. ValuEngine upgraded Castlight Health from a “sell” rating to a “hold” rating in a report on Wednesday, January 2nd. William Blair restated a “buy” rating on shares of Castlight Health in a report on Thursday, October 18th. Cantor Fitzgerald restated a “buy” rating and set a $5.00 target price on shares of Castlight Health in a report on Monday, December 17th. Finally, Dougherty & Co reduced their price target on Castlight Health from $6.00 to $5.00 and set a “buy” rating on the stock in a research note on Wednesday, October 31st. Two research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $4.81.

Shares of CSLT stock opened at $2.52 on Friday. The firm has a market capitalization of $325.57 million, a P/E ratio of -9.69 and a beta of 1.16. Castlight Health Inc has a twelve month low of $1.86 and a twelve month high of $5.95. The company has a debt-to-equity ratio of 0.02, a quick ratio of 1.89 and a current ratio of 1.89.

Castlight Health (NYSE:CSLT) last issued its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.07) by $0.06. The company had revenue of $40.04 million for the quarter, compared to analysts’ expectations of $38.11 million. Castlight Health had a negative return on equity of 16.59% and a negative net margin of 29.23%. The firm’s revenue for the quarter was up 16.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.05) earnings per share. As a group, equities analysts anticipate that Castlight Health Inc will post -0.23 earnings per share for the current fiscal year.

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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 communication and testing, implementation, and user customer support services.

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Institutional Ownership by Quarter for Castlight Health (NYSE:CSLT)

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