Millennium Management LLC acquired a new stake in Castlight Health Inc (NYSE:CSLT) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 209,648 shares of the software maker’s stock, valued at approximately $891,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Metropolitan Life Insurance Co. NY bought a new position in Castlight Health in the 2nd quarter valued at approximately $120,000. MetLife Investment Advisors LLC bought a new position in Castlight Health in the 2nd quarter valued at approximately $170,000. Allianz Asset Management GmbH bought a new position in Castlight Health in the 1st quarter valued at approximately $180,000. Rhumbline Advisers raised its holdings in Castlight Health by 30.9% in the 2nd quarter. Rhumbline Advisers now owns 69,922 shares of the software maker’s stock valued at $297,000 after buying an additional 16,520 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in Castlight Health by 143.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 136,143 shares of the software maker’s stock worth $497,000 after purchasing an additional 80,270 shares during the last quarter. Institutional investors and hedge funds own 50.61% of the company’s stock.
Castlight Health stock opened at $2.66 on Wednesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 1.85 and a quick ratio of 1.85. Castlight Health Inc has a 52-week low of $2.20 and a 52-week high of $5.95. The company has a market cap of $365.06 million, a price-to-earnings ratio of -10.23 and a beta of 1.09.
Castlight Health (NYSE:CSLT) last released its quarterly earnings results on Tuesday, November 6th. The software maker reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.02. Castlight Health had a negative net margin of 38.02% and a negative return on equity of 22.89%. The firm had revenue of $40.04 million during the quarter, compared to analyst estimates of $38.11 million. During the same quarter last year, the business earned ($0.05) EPS. The company’s revenue was up 16.1% compared to the same quarter last year. Analysts forecast that Castlight Health Inc will post -0.29 earnings per share for the current year.
CSLT has been the subject of several analyst reports. ValuEngine upgraded shares of Castlight Health from a “hold” rating to a “buy” rating in a report on Friday, July 20th. Chardan Capital lowered shares of Castlight Health from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $6.00 to $4.80 in a report on Tuesday, July 31st. Cantor Fitzgerald restated a “buy” rating and set a $5.00 price target on shares of Castlight Health in a report on Friday, August 17th. Dougherty & Co raised their price target on shares of Castlight Health from $6.00 to $7.00 and gave the stock a “buy” rating in a report on Monday, July 23rd. Finally, Canaccord Genuity lowered their price target on shares of Castlight Health from $7.00 to $6.00 and set a “buy” rating for the company in a report on Tuesday, July 31st. One analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $5.16.
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Castlight Health Profile
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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