Limelight Networks, Inc. (NASDAQ:LLNW) has been given an average rating of “Hold” by the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $4.57.
LLNW has been the topic of a number of research reports. BidaskClub lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research report on Wednesday, August 14th. B. Riley reaffirmed a “buy” rating and set a $5.00 target price on shares of Limelight Networks in a research report on Monday, July 15th. ValuEngine raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. DA Davidson reaffirmed a “neutral” rating and set a $2.70 target price on shares of Limelight Networks in a research report on Tuesday, July 2nd. Finally, Zacks Investment Research lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research report on Friday, July 19th.
Shares of NASDAQ:LLNW traded down $0.05 during trading on Tuesday, reaching $2.31. The stock had a trading volume of 270,000 shares, compared to its average volume of 867,179. Limelight Networks has a 52 week low of $2.20 and a 52 week high of $5.32. The firm has a market capitalization of $274.23 million, a price-to-earnings ratio of -115.50 and a beta of 2.03. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. The stock has a fifty day simple moving average of $2.48 and a two-hundred day simple moving average of $2.86.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Wednesday, July 17th. The information services provider reported ($0.06) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 13.07%. The firm had revenue of $45.90 million during the quarter, compared to the consensus estimate of $46.40 million. During the same period in the prior year, the business earned $0.04 EPS. The company’s revenue for the quarter was down 8.6% compared to the same quarter last year. On average, analysts forecast that Limelight Networks will post -0.13 EPS for the current year.
In other Limelight Networks news, SVP Thomas Marth purchased 21,550 shares of the stock in a transaction on Thursday, July 25th. The shares were purchased at an average price of $2.32 per share, with a total value of $49,996.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Sajid Malhotra purchased 20,000 shares of the 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. Insiders own 10.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LLNW. Dimensional Fund Advisors LP lifted its stake in Limelight Networks by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 4,372,620 shares of the information services provider’s stock valued at $10,232,000 after acquiring an additional 60,933 shares during the last quarter. Geode Capital Management LLC increased its holdings in Limelight Networks by 5.6% in the 4th quarter. Geode Capital Management LLC now owns 1,255,100 shares of the information services provider’s stock valued at $2,936,000 after buying an additional 67,107 shares during the period. Bank of America Corp DE increased its holdings in Limelight Networks by 165.6% in the 4th quarter. Bank of America Corp DE now owns 68,155 shares of the information services provider’s stock valued at $159,000 after buying an additional 42,493 shares during the period. Metropolitan Life Insurance Co. NY increased its holdings in Limelight Networks by 416.7% in the 4th quarter. Metropolitan Life Insurance Co. NY now owns 35,005 shares of the information services provider’s stock valued at $82,000 after buying an additional 28,230 shares during the period. Finally, Jane Street Group LLC bought a new stake in Limelight Networks in the 4th quarter valued at $41,000. 73.19% of the stock is currently owned by hedge funds and other institutional investors.
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.
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