TheStreet Lowers Castlight Health (NYSE:CSLT) to D+

TheStreet cut shares of Castlight Health (NYSE:CSLT) from a c- rating to a d+ rating in a research note released on Monday, TheStreetRatingsTable reports.

A number of other research firms also recently issued reports on CSLT. ValuEngine upgraded Castlight Health from a sell rating to a hold rating in a research note on Thursday, August 1st. Zacks Investment Research downgraded Castlight Health from a hold rating to a sell rating in a research note on Monday, August 5th. Finally, Cantor Fitzgerald downgraded Castlight Health from an overweight rating to a neutral rating in a research note on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average price target of $4.50.

NYSE:CSLT opened at $1.45 on Monday. The stock’s 50 day moving average price is $2.32 and its 200 day moving average price is $3.18. The company has a market capitalization of $212.07 million, a PE ratio of -9.06 and a beta of 1.41. The company has a quick ratio of 1.88, a current ratio of 1.88 and a debt-to-equity ratio of 0.08. Castlight Health has a 52-week low of $1.34 and a 52-week high of $4.15.

Castlight Health (NYSE:CSLT) last released its quarterly earnings results on Tuesday, July 30th. The software maker reported ($0.02) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.01). The firm had revenue of $35.90 million for the quarter, compared to analysts’ expectations of $36.95 million. Castlight Health had a negative return on equity of 9.28% and a negative net margin of 19.68%. The company’s quarterly revenue was down 5.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.10) EPS. As a group, sell-side analysts anticipate that Castlight Health will post -0.19 EPS for the current fiscal year.

In other Castlight Health news, EVP Maeve O’meara sold 28,171 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.41, for a total transaction of $39,721.11. Following the completion of the sale, the executive vice president now directly owns 322,775 shares of the company’s stock, valued at approximately $455,112.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Mangini Siobhan Nolan sold 21,617 shares of the stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $1.41, for a total value of $30,479.97. Following the sale, the chief financial officer now directly owns 281,610 shares of the company’s stock, valued at $397,070.10. The disclosure for this sale can be found here. Insiders have sold a total of 60,858 shares of company stock valued at $95,636 over the last ninety days. 17.37% of the stock is owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. lifted its position in Castlight Health by 44.3% during the 2nd quarter. JPMorgan Chase & Co. now owns 27,652 shares of the software maker’s stock worth $82,000 after acquiring an additional 8,491 shares during the period. Prudential Financial Inc. lifted its holdings in shares of Castlight Health by 27.3% in the 2nd quarter. Prudential Financial Inc. now owns 41,204 shares of the software maker’s stock valued at $133,000 after buying an additional 8,840 shares during the period. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Castlight Health in the 2nd quarter valued at approximately $35,000. HighTower Advisors LLC acquired a new stake in shares of Castlight Health in the 2nd quarter valued at approximately $37,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of Castlight Health by 4.3% in the 4th quarter. Bank of New York Mellon Corp now owns 373,265 shares of the software maker’s stock valued at $809,000 after buying an additional 15,547 shares during the period. 55.47% of the stock is owned by institutional investors.

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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