Trading Report: The Concourse Capital Management LLC Raises its position in Castlight Health Inc. (CSLT) as a favorable investment target.

The Concourse Capital Management LLC Raises its position in Castlight Health Inc. (CSLT) as a favorable investment target.

Concourse Capital Management LLC increased its stake in shares of Castlight Health Inc. (NYSE:CSLT) by 13.4% during the second quarter, Holdings Channel reports. The firm owned 68,286 shares of the company’s stock after buying an additional 8,046 shares during the period. Concourse Capital Management LLC’s holdings in Castlight Health were worth $270,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of CSLT. California State Teachers Retirement System raised its position in Castlight Health by 16.7% in the second quarter. California State Teachers Retirement System now owns 84,599 shares of the company’s stock valued at $335,000 after buying an additional 12,117 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Castlight Health by 13.1% in the second quarter. Bank of New York Mellon Corp now owns 169,786 shares of the company’s stock valued at $672,000 after buying an additional 19,615 shares in the last quarter. Prescott Group Capital Management L.L.C. increased its stake in shares of Castlight Health by 61.8% in the second quarter. Prescott Group Capital Management L.L.C. now owns 241,682 shares of the company’s stock valued at $957,000 after buying an additional 92,282 shares in the last quarter. Finally, Prudential PLC increased its stake in shares of Castlight Health by 88.7% in the first quarter. Prudential PLC now owns 3,237,882 shares of the company’s stock valued at $10,782,000 after buying an additional 1,521,759 shares in the last quarter. Institutional investors own 51.35% of the company’s stock.

Shares of Castlight Health Inc. (NYSE:CSLT) traded down 2.33% on Friday, reaching $4.20. The company had a trading volume of 121,621 shares. Castlight Health Inc. has a 52 week low of $2.54 and a 52 week high of $5.39. The firm’s market capitalization is $431.34 million. The company’s 50-day moving average price is $4.19 and its 200 day moving average price is $4.06.

Castlight Health (NYSE:CSLT) last issued its quarterly earnings results on Monday, August 8th. The company reported ($0.11) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.13) by $0.02. Castlight Health had a negative return on equity of 62.65% and a negative net margin of 88.48%. The company had revenue of $23.60 million for the quarter, compared to the consensus estimate of $23.09 million. During the same quarter in the prior year, the business earned ($0.19) EPS. Castlight Health’s revenue was up 27.6% on a year-over-year basis. On average, analysts expect that Castlight Health Inc. will post ($0.40) EPS for the current year.

CSLT has been the subject of several recent analyst reports. Zacks Investment Research downgraded Castlight Health from a “buy” rating to a “sell” rating in a report on Tuesday, July 19th. FBR & Co reissued a “hold” rating and issued a $4.00 price target on shares of Castlight Health in a report on Wednesday, August 10th. Canaccord Genuity reissued a “hold” rating and issued a $5.00 price target on shares of Castlight Health in a report on Thursday, August 11th. Finally, Morgan Stanley reissued a “hold” rating and issued a $4.00 price target on shares of Castlight Health in a report on Thursday, August 25th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $4.67.

In other Castlight Health news, insider Jonathan Rende sold 8,286 shares of the company’s stock in a transaction dated Tuesday, August 16th. The stock was sold at an average price of $4.25, for a total transaction of $35,215.50. Following the sale, the insider now owns 70,791 shares in the company, valued at approximately $300,861.75. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 37.43% of the company’s stock.

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 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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