BidaskClub Lowers Limelight Networks (NASDAQ:LLNW) to Sell

Share on StockTwits

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

Other equities research analysts have also recently issued reports about the stock. DA Davidson reissued a neutral rating and issued a $2.70 price target on shares of Limelight Networks in a research report on Tuesday, July 2nd. Zacks Investment Research cut shares of Limelight Networks from a hold rating to a sell rating in a research report on Friday, July 19th. B. Riley reissued a buy rating and issued a $5.00 price target on shares of Limelight Networks in a research report on Monday, July 15th. Finally, ValuEngine raised shares of Limelight Networks from a hold rating to a buy rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $4.57.

Limelight Networks stock opened at $2.27 on Wednesday. The stock has a market cap of $264.94 million, a P/E ratio of -113.50 and a beta of 2.03. The company has a fifty day simple moving average of $2.51 and a 200-day simple moving average of $2.87. Limelight Networks has a 12-month low of $2.20 and a 12-month high of $5.32. 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) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.02). Limelight Networks had a negative return on equity of 13.07% and a negative net margin of 11.63%. The firm had revenue of $45.90 million for the quarter, compared to analysts’ expectations of $46.40 million. During the same period last year, the firm posted $0.04 earnings per share. Limelight Networks’s revenue for the quarter was down 8.6% on a year-over-year basis. As a group, sell-side analysts forecast that Limelight Networks will post -0.13 earnings per share for the current fiscal year.

In other Limelight Networks news, SVP Thomas Marth acquired 21,550 shares of the company’s stock in a transaction on Thursday, July 25th. The shares were bought at an average cost of $2.32 per share, for a total transaction of $49,996.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Sajid Malhotra acquired 20,000 shares of the company’s stock in a transaction on Wednesday, July 24th. The stock was acquired at an average price 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 insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of LLNW. AWM Investment Company Inc. acquired a new position in Limelight Networks in the second quarter valued at $4,017,000. Nuveen Asset Management LLC acquired a new position in Limelight Networks in the second quarter valued at $3,839,000. Federated Investors Inc. PA increased its stake in Limelight Networks by 23.5% in the first quarter. Federated Investors Inc. PA now owns 4,325,000 shares of the information services provider’s stock valued at $13,970,000 after purchasing an additional 822,552 shares during the period. Heartland Advisors Inc. acquired a new position in Limelight Networks in the second quarter valued at $1,620,000. Finally, Deutsche Bank AG increased its stake in Limelight Networks by 239.5% in the fourth quarter. Deutsche Bank AG now owns 747,520 shares of the information services provider’s stock valued at $1,748,000 after purchasing an additional 527,311 shares during the period. Institutional investors own 72.23% of the company’s stock.

Limelight Networks Company Profile

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.

See Also: What are the benefits of a balanced fund?

Receive News & Ratings for Limelight Networks Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.