Adage Capital and Maverick Capital are Bullish on Castlight Health Inc (CSLT)

In a new filing with the Securities and Exchange Commission, Adage Capital Management, managed by Phill Gross and Robert Atchinson, has revealed a new passive stake in Castlight Health Inc (NYSE:CSLT). The fund owns 554,000 class B common stock shares of the company, representing 5% of the class. In a separate filing, Lee Ainslie’s Maverick Capital has reported a 39.9% stake in Castlight Health (NYSE: CSLT). The fund raised its position to 8.18 million class B common stock shares from 450,000 shares the fund disclosed in March.

Phill Gross Adage Capital Management

San Francisco-based Castlight Health (NYSE: CSLT) provides cloud-based software for health care. The company is a pioneer of the enterprise healthcare cloud and makes health care data actionable. The company went public last month, but its stock price went down by over 50% since then. Recently, Morgan Stanley has started coverage of the company, according to Benzinga and set the “Equal-Weight” rating.

Boston-based Adage Capital is founded by Phil Gross and Robert Atchinson in 2001. The fund’s equity portfolio value was $37.8 billion at the end of the fourth quarter of 2013. Recently, Adage Capital initiated a stake in OvaScience Inc (NASDAQ:OVAS), holding more than 1.31 million shares.

Lee Ainslie is a pure long/short equity investor. He buys what he thinks will beat the market and he sells what he thinks will underperform. According to Maverick’s latest 13F filing, eBay Inc (NASDAQ:EBAY) was the most valuable holding, in which the fund held 5.73 million shares at the end of 2013. Another important holding was Citrix Systems Inc. (NASDAQ:CTXS), in which Maverick disclosed ownership of 4.86 million shares. In The Home Depot Inc. (NYSE:HD), the fund owned a $297.7 million stake, containing 3.62 million shares.

Disclosure: none

Recommended reading:

MHR Fund Management Ups Its Stake In Navistar International Corp (NAV)

Barry Rosenstein, Jana Partners Continue Reducing Stake In Outerwall Inc (OUTR)

Gates Capital Management Raises Stake In Richardson Electronics Ltd. (RELL)

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Most Influential Papers In Economics

Top 8 Biggest Charities in the US

10 Worst Celebrity Career Moves Ever

Top 10 Best Paid Tennis Stars in the World

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!