Limelight Networks (LLNW) Trading Down 5.1%
Shares of Limelight Networks, Inc. (NASDAQ:LLNW) dropped 5.1% during trading on Tuesday . The stock traded as low as $4.44 and last traded at $4.45. Approximately 954,229 shares were traded during mid-day trading, an increase of 43% from the average daily volume of 667,621 shares. The stock had previously closed at $4.69.
LLNW has been the subject of several recent research reports. B. Riley reissued a “buy” rating and issued a $6.00 target price on shares of Limelight Networks in a research report on Wednesday, December 13th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Friday, October 20th. DA Davidson set a $5.50 target price on shares of Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Finally, BidaskClub downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $5.00.
The firm has a market cap of $486.02, a price-to-earnings ratio of -44.50, a PEG ratio of 705.00 and a beta of 2.54.
Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. The business had revenue of $46.07 million during the quarter, compared to the consensus estimate of $43.09 million. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. Limelight Networks’s quarterly revenue was up 16.7% on a year-over-year basis. equities analysts forecast that Limelight Networks, Inc. will post -0.04 EPS for the current fiscal year.
In related news, Director Mark J. Midle sold 15,000,000 shares of the company’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 37.60% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teachers Advisors LLC boosted its holdings in Limelight Networks by 27.7% in the 2nd quarter. Teachers Advisors LLC now owns 231,693 shares of the information services provider’s stock valued at $670,000 after purchasing an additional 50,265 shares during the period. TIAA CREF Investment Management LLC boosted its holdings in Limelight Networks by 14.3% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 486,409 shares of the information services provider’s stock valued at $1,406,000 after purchasing an additional 60,752 shares during the period. Dorsey & Whitney Trust CO LLC boosted its holdings in Limelight Networks by 26.8% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock valued at $140,000 after purchasing an additional 10,270 shares during the period. Northern Trust Corp boosted its holdings in Limelight Networks by 13.5% in the 2nd quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock valued at $2,356,000 after purchasing an additional 96,776 shares during the period. Finally, EAM Investors LLC bought a new stake in Limelight Networks in the 2nd quarter valued at $1,252,000. 69.96% of the stock is owned by institutional investors and hedge funds.
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Limelight Networks Company Profile
Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.
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