Limelight Networks (LLNW) Stock Rating Lowered by ValuEngine

ValuEngine lowered shares of Limelight Networks (NASDAQ:LLNW) from a buy rating to a hold rating in a report issued on Tuesday.

A number of other brokerages have also recently commented on LLNW. BidaskClub cut shares of Limelight Networks from a hold rating to a sell rating in a research note on Wednesday, October 31st. DA Davidson set a $7.00 price objective on shares of Limelight Networks and gave the stock a buy rating in a research note on Monday, October 8th. Cowen reaffirmed a buy rating and set a $6.50 price objective on shares of Limelight Networks in a research note on Friday, July 20th. TheStreet cut shares of Limelight Networks from a b- rating to a c+ rating in a research note on Tuesday, October 30th. Finally, Zacks Investment Research cut shares of Limelight Networks from a hold rating to a sell rating in a research note on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have assigned a buy rating to the company’s stock. Limelight Networks has an average rating of Hold and a consensus target price of $6.21.

LLNW traded down $0.12 during trading on Tuesday, reaching $3.71. 23,130 shares of the company’s stock were exchanged, compared to its average volume of 1,090,932. Limelight Networks has a 1 year low of $3.69 and a 1 year high of $6.05. The firm has a market capitalization of $435.83 million, a PE ratio of -187.54, a P/E/G ratio of 8.56 and a beta of 2.47.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.03. Limelight Networks had a net margin of 7.07% and a return on equity of 2.32%. The company had revenue of $49.32 million during the quarter, compared to analyst estimates of $49.01 million. During the same period last year, the firm posted $0.02 EPS. Limelight Networks’s revenue for the quarter was up 7.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Limelight Networks will post 0.03 EPS for the current fiscal year.

In related news, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $4.89, for a total value of $195,600.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Kurt Silverman sold 7,500 shares of Limelight Networks stock in a transaction on Monday, October 1st. The shares were sold at an average price of $5.00, for a total transaction of $37,500.00. The disclosure for this sale can be found here. Insiders sold a total of 148,800 shares of company stock worth $697,505 in the last three months. 10.60% of the stock is owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in LLNW. Wells Fargo & Company MN grew its stake in Limelight Networks by 26.7% in the 1st quarter. Wells Fargo & Company MN now owns 133,601 shares of the information services provider’s stock valued at $549,000 after acquiring an additional 28,170 shares during the period. Northern Trust Corp grew its stake in Limelight Networks by 24.5% in the 1st quarter. Northern Trust Corp now owns 1,039,785 shares of the information services provider’s stock valued at $4,274,000 after acquiring an additional 204,687 shares during the period. BlackRock Inc. grew its stake in Limelight Networks by 1.7% in the 1st quarter. BlackRock Inc. now owns 7,051,038 shares of the information services provider’s stock valued at $28,980,000 after acquiring an additional 116,844 shares during the period. Dimensional Fund Advisors LP grew its stake in Limelight Networks by 3.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 3,827,837 shares of the information services provider’s stock valued at $15,732,000 after acquiring an additional 130,168 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Limelight Networks by 18.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 71,533 shares of the information services provider’s stock valued at $294,000 after acquiring an additional 11,383 shares during the period. 73.51% of the stock is currently owned by hedge funds and other institutional investors.

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, 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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