Limelight Networks (NASDAQ:LLNW) Lowered to Hold at BidaskClub

Limelight Networks (NASDAQ:LLNW) was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating in a research note issued on Friday, BidAskClub reports.

A number of other research firms have also recently weighed in on LLNW. Zacks Investment Research raised Limelight Networks from a “sell” rating to a “hold” rating in a report on Wednesday, September 18th. DA Davidson reaffirmed a “neutral” rating and set a $2.70 price target on shares of Limelight Networks in a report on Tuesday, July 2nd. ValuEngine upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, B. Riley raised their price objective on shares of Limelight Networks from $2.90 to $3.70 and gave the company a “buy” rating in a research note on Monday, September 23rd. Four equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $3.20.

Shares of LLNW traded down $0.02 during mid-day trading on Friday, reaching $2.86. 11,483 shares of the company’s stock traded hands, compared to its average volume of 962,173. The business’s 50-day moving average price is $2.74 and its 200-day moving average price is $2.83. The stock has a market capitalization of $338.14 million, a P/E ratio of -143.50 and a beta of 2.16. The company has a debt-to-equity ratio of 0.01, a quick ratio of 2.10 and a current ratio of 2.10. Limelight Networks has a 12 month low of $2.20 and a 12 month high of $5.11.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.04) by ($0.02). The business had revenue of $45.90 million for the quarter, compared to the consensus estimate of $46.40 million. Limelight Networks had a negative net margin of 11.63% and a negative return on equity of 13.07%. The business’s quarterly revenue was down 8.6% on a year-over-year basis. During the same period last year, the firm posted $0.04 EPS. Equities research analysts anticipate that Limelight Networks will post -0.13 EPS for the current year.

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

A number of institutional investors have recently bought and sold shares of the business. River & Mercantile Asset Management LLP acquired a new position in Limelight Networks in the second quarter worth approximately $1,364,000. Harvey Partners LLC grew its position in Limelight Networks by 10.3% in the second quarter. Harvey Partners LLC now owns 645,000 shares of the information services provider’s stock worth $1,742,000 after buying an additional 60,000 shares during the last quarter. United Services Automobile Association grew its position in Limelight Networks by 2.1% in the second quarter. United Services Automobile Association now owns 1,410,143 shares of the information services provider’s stock worth $3,807,000 after buying an additional 29,200 shares during the last quarter. Nuveen Asset Management LLC acquired a new position in Limelight Networks in the second quarter worth approximately $3,839,000. Finally, Jane Street Group LLC acquired a new position in Limelight Networks in the second quarter worth approximately $61,000. Hedge funds and other institutional investors own 76.19% of the company’s stock.

About Limelight Networks

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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