Castlight Health major shareholder Buys $2,853,698 in Stock (CSLT)
Castlight Health (NASDAQ:CSLT) major shareholder Maverick Capital Ltd purchased 249,886 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The stock was purchased at an average price of $11.42 per share, for a total transaction of $2,853,698.12. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Large shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.
Castlight Health (NASDAQ:CSLT) traded up 12.43% on Tuesday, hitting $13.39. The stock had a trading volume of 1,479,120 shares. Castlight Health has a one year low of $10.05 and a one year high of $41.95. The stock’s 50-day moving average is $12.92 and its 200-day moving average is $16.42. The company’s market cap is $1.201 billion. Castlight Health also saw some unusual options trading on Monday. Investors bought 630 put options on the stock. This is an increase of approximately 254% compared to the typical daily volume of 178 put options.
Castlight Health (NASDAQ:CSLT) last announced its earnings results 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.
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. Castlight Health has a consensus rating of “Buy” and an average target price of $19.00.
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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