Several analysts have recently updated their ratings and price targets for Limelight Networks (NASDAQ: LLNW):
LLNW stock traded down $0.06 during mid-day trading on Thursday, reaching $4.42. 11,303 shares of the stock traded hands, compared to its average volume of 915,746. Limelight Networks, Inc. has a 52 week low of $3.21 and a 52 week high of $6.05. The stock has a market capitalization of $502.38 million, a price-to-earnings ratio of -221.00, a price-to-earnings-growth ratio of 10.81 and a beta of 2.32.
Get Limelight Networks Inc alerts:Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Thursday, July 19th. The information services provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.03 by $0.01. Limelight Networks had a net margin of 6.43% and a return on equity of 1.99%. The company had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $49.64 million. During the same period in the prior year, the company earned $0.03 earnings per share. The business’s quarterly revenue was up 10.8% compared to the same quarter last year. equities analysts forecast that Limelight Networks, Inc. will post 0.03 earnings per share for the current fiscal year.
In other news, insider Kurt Silverman sold 7,500 shares of the company’s stock in a transaction dated Friday, July 20th. The shares were sold at an average price of $5.00, for a total transaction of $37,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Robert A. Lento sold 40,000 shares of the company’s stock in a transaction dated Monday, July 2nd. The shares were sold at an average price of $4.46, for a total transaction of $178,400.00. The disclosure for this sale can be found here. Insiders have sold 109,271 shares of company stock valued at $532,344 over the last 90 days. Corporate insiders own 10.60% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. Campbell & CO Investment Adviser LLC acquired a new position in shares of Limelight Networks during the second quarter valued at about $125,000. WINTON GROUP Ltd acquired a new position in shares of Limelight Networks during the first quarter valued at about $172,000. MetLife Investment Advisors LLC raised its position in shares of Limelight Networks by 172.6% during the first quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock valued at $180,000 after buying an additional 27,754 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Limelight Networks by 18.9% in the first quarter. The Manufacturers Life Insurance Company now owns 71,533 shares of the information services provider’s stock worth $294,000 after purchasing an additional 11,383 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in Limelight Networks by 36.4% in the fourth quarter. Wells Fargo & Company MN now owns 105,431 shares of the information services provider’s stock worth $465,000 after purchasing an additional 28,159 shares in the last quarter. 69.54% of the stock is owned by institutional investors and hedge funds.
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, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.
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