Limelight Networks, Inc. (NASDAQ:LLNW) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating on the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $4.57.
A number of analysts recently commented on the company. BidaskClub lowered Limelight Networks from a “hold” rating to a “sell” rating in a research note on Wednesday. Zacks Investment Research lowered Limelight Networks from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. B. Riley reaffirmed a “buy” rating and issued a $5.00 price target on shares of Limelight Networks in a research note on Monday, July 15th. DA Davidson reaffirmed a “neutral” rating and issued a $2.70 price target on shares of Limelight Networks in a research note on Tuesday, July 2nd. Finally, ValuEngine raised Limelight Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st.
Shares of Limelight Networks stock traded up $0.04 on Tuesday, hitting $2.27. The stock had a trading volume of 956,800 shares, compared to its average volume of 745,841. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01. Limelight Networks has a one year low of $2.20 and a one year high of $5.32. The stock’s 50-day simple moving average is $2.51 and its two-hundred day simple moving average is $2.87.
Limelight Networks (NASDAQ:LLNW) last issued its earnings results on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share (EPS) for the quarter, missing the 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 during the quarter, compared to the consensus estimate of $46.40 million. During the same quarter in the prior year, the business posted $0.04 EPS. The firm’s revenue for the quarter was down 8.6% on a year-over-year basis. Equities research analysts forecast that Limelight Networks will post -0.13 EPS for the current year.
In other news, SVP Thomas Marth acquired 21,550 shares of the stock in a transaction on Thursday, July 25th. The stock was acquired at an average price of $2.32 per share, with a total value of $49,996.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sajid Malhotra acquired 20,000 shares of the stock in a transaction on Wednesday, July 24th. The shares were purchased at an average cost of $2.28 per share, with a total value of $45,600.00. The disclosure for this purchase can be found here. Company insiders own 10.40% of the company’s stock.
A number of institutional investors have recently made changes to their positions in LLNW. Amalgamated Bank purchased a new position in Limelight Networks during the fourth quarter valued at $38,000. Jane Street Group LLC purchased a new position in Limelight Networks during the fourth quarter valued at $41,000. Meitav Dash Investments Ltd. purchased a new position in Limelight Networks during the first quarter valued at $44,000. Legal & General Group Plc lifted its position in Limelight Networks by 25.1% during 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 period. Finally, Cibc Bank USA purchased a new position in Limelight Networks during the second quarter valued at $54,000. 72.23% of the stock is owned by institutional investors and hedge funds.
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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