Quadrature Capital Ltd bought a new position in shares of Limelight Networks, Inc. (NASDAQ:LLNW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 189,619 shares of the information services provider’s stock, valued at approximately $1,399,000. Quadrature Capital Ltd owned about 0.16% of Limelight Networks at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Strs Ohio bought a new stake in shares of Limelight Networks during the second quarter worth $52,000. Advisor Group Holdings Inc. bought a new stake in shares of Limelight Networks during the first quarter worth $43,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Limelight Networks by 57.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,691 shares of the information services provider’s stock worth $71,000 after purchasing an additional 3,551 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of Limelight Networks during the second quarter worth $77,000. Finally, Paloma Partners Management Co bought a new stake in shares of Limelight Networks during the first quarter worth $68,000. Institutional investors and hedge funds own 79.10% of the company’s stock.
In other news, CFO Sajid Malhotra sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 23rd. The stock was sold at an average price of $6.25, for a total transaction of $625,000.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director David Peterschmidt sold 20,000 shares of the business’s stock in a transaction dated Thursday, June 25th. The stock was sold at an average price of $7.03, for a total value of $140,600.00. The disclosure for this sale can be found here. Insiders have sold 593,666 shares of company stock worth $4,155,812 in the last 90 days. Insiders own 10.40% of the company’s stock.
Several analysts recently weighed in on the company. BidaskClub downgraded Limelight Networks from a “sell” rating to a “strong sell” rating in a report on Saturday. Lake Street Capital lifted their price objective on Limelight Networks from $8.00 to $9.00 and gave the company a “buy” rating in a report on Tuesday, July 21st. Northland Securities assumed coverage on Limelight Networks in a report on Friday, June 19th. They issued a “buy” rating and a $8.00 price objective for the company. Raymond James lifted their price objective on Limelight Networks from $6.00 to $8.50 and gave the company an “outperform” rating in a report on Friday, June 26th. Finally, DA Davidson restated a “neutral” rating on shares of Limelight Networks in a report on Tuesday, July 21st. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the company’s stock. Limelight Networks has an average rating of “Buy” and an average price target of $7.84.
LLNW traded down $0.20 on Friday, hitting $5.02. The company had a trading volume of 3,608,100 shares, compared to its average volume of 2,876,115. The stock has a fifty day moving average price of $6.22 and a 200-day moving average price of $5.72. Limelight Networks, Inc. has a 12-month low of $2.50 and a 12-month high of $8.19. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market capitalization of $612.80 million, a price-to-earnings ratio of -100.40 and a beta of 0.60.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Monday, July 20th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. Limelight Networks had a negative return on equity of 4.42% and a negative net margin of 3.21%. The company had revenue of $58.55 million for the quarter, compared to analyst estimates of $56.72 million. During the same quarter in the previous year, the firm earned ($0.03) earnings per share. The firm’s quarterly revenue was up 27.5% compared to the same quarter last year. Analysts forecast that Limelight Networks, Inc. will post -0.07 EPS for the current fiscal year.
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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