Limelight Networks (NASDAQ:LLNW) Lifted to “Hold” at BidaskClub

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BidaskClub upgraded shares of Limelight Networks (NASDAQ:LLNW) from a sell rating to a hold rating in a research note published on Tuesday, BidAskClub reports.

A number of other research firms also recently commented on LLNW. B. Riley reissued a buy rating and set a $5.00 price objective on shares of Limelight Networks in a report on Monday, July 15th. Zacks Investment Research downgraded shares of Limelight Networks from a hold rating to a sell rating in a report on Friday, July 19th. ValuEngine raised shares of Limelight Networks from a hold rating to a buy rating in a report on Thursday, August 1st. Finally, DA Davidson reissued a neutral rating and set a $2.70 price objective on shares of Limelight Networks in a report on Tuesday, July 2nd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $4.57.

LLNW stock opened at $2.42 on Tuesday. Limelight Networks has a 52 week low of $2.20 and a 52 week high of $5.32. The business’s 50-day moving average is $2.57. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.01.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, July 17th. The information services provider reported ($0.06) EPS for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). The company had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $46.40 million. Limelight Networks had a negative return on equity of 13.07% and a negative net margin of 11.63%. The firm’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.04 EPS. On average, equities analysts predict that Limelight Networks will post -0.13 earnings per share for the current year.

In other Limelight Networks news, SVP Thomas Marth purchased 21,550 shares of Limelight Networks stock in a transaction on Thursday, July 25th. The shares were bought at an average price of $2.32 per share, with a total value of $49,996.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sajid Malhotra purchased 20,000 shares of Limelight Networks stock in a transaction on Wednesday, July 24th. The stock was acquired at an average cost of $2.28 per share, for a total transaction of $45,600.00. The disclosure for this purchase can be found here. 10.40% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Amalgamated Bank purchased a new stake in shares of Limelight Networks in the fourth quarter valued at about $38,000. Jane Street Group LLC acquired a new position in shares of Limelight Networks in the fourth quarter valued at approximately $41,000. Meitav Dash Investments Ltd. acquired a new position in shares of Limelight Networks in the first quarter valued at approximately $44,000. Legal & General Group Plc raised its position in shares of Limelight Networks by 25.1% in the fourth quarter. Legal & General Group Plc now owns 20,034 shares of the information services provider’s stock valued at $46,000 after buying an additional 4,014 shares during the last quarter. Finally, Cibc Bank USA acquired a new position in shares of Limelight Networks in the second quarter valued at approximately $54,000. 71.83% of the stock is currently owned by institutional investors.

About Limelight Networks

Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, social, and other digital initiatives.

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