Traders Purchase Large Volume of Castlight Health Put Options (CSLT)
Shares of Castlight Health (NASDAQ:CSLT) were the recipient of unusually large options trading on Monday. Investors purchased 630 put options on the stock, American Banking News.com reports. This is an increase of 254% compared to the typical volume of 178 put options.
In other Castlight Health news, major shareholder Maverick Capital Ltd acquired 140,045 shares of the stock on the open market in a transaction that occurred on Wednesday, August 27th. The shares were purchased at an average cost of $11.03 per share, for a total transaction of $1,544,696.35. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Separately, analysts at Raymond James reiterated an “outperform” rating on shares of Castlight Health in a research note on Wednesday, July 30th. They now have a $19.00 price target on the stock, up previously from $15.00. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $19.00.
Castlight Health (NASDAQ:CSLT) traded up 1.19% on Monday, hitting $11.91. The stock had a trading volume of 523,915 shares. Castlight Health has a 52 week low of $10.05 and a 52 week high of $41.95. The stock has a 50-day moving average of $12.92 and a 200-day moving average of $16.42. The company’s market cap is $1.068 billion.
Castlight Health (NASDAQ:CSLT) last issued its quarterly earnings data on Wednesday, August 20th. The company reported ($0.24) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.25) by $0.01. Analysts expect that Castlight Health will post $-1.01 EPS for the current fiscal year.
Castlight Health, Inc is a provider of cloud-based software, that enables enterprises to gain control over their rapidly escalating health care costs.
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