Limelight Networks (LLNW) Hits New 1-Year Low at $3.68

Limelight Networks, Inc. (NASDAQ:LLNW) reached a new 52-week low during trading on Friday . The stock traded as low as $3.68 and last traded at $3.71, with a volume of 20930 shares. The stock had previously closed at $3.83.

A number of research analysts have recently issued reports on the company. TheStreet downgraded Limelight Networks from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. ValuEngine downgraded Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday. BidaskClub raised Limelight Networks from a “strong sell” rating to a “sell” rating in a report on Friday, August 24th. DA Davidson set a $7.00 price target on Limelight Networks and gave the company a “buy” rating in a report on Monday, October 8th. Finally, Cowen reaffirmed a “buy” rating and set a $6.50 price target on shares of Limelight Networks in a report on Friday, July 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $6.21.

The firm has a market cap of $435.83 million, a PE ratio of -185.00, a price-to-earnings-growth ratio of 8.56 and a beta of 2.47.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $49.32 million for the quarter, compared to the consensus estimate of $49.01 million. Limelight Networks had a return on equity of 2.32% and a net margin of 7.07%. The company’s quarterly revenue was up 7.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.02 earnings per share. Research analysts forecast that Limelight Networks, Inc. will post 0.03 EPS for the current fiscal year.

In related news, insider Kurt Silverman sold 7,500 shares of the company’s stock in a transaction on Thursday, August 30th. The stock was sold at an average price of $5.00, for a total transaction of $37,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Robert A. Lento sold 40,000 shares of the company’s stock in a transaction on Monday, October 1st. The shares were sold at an average price of $4.94, for a total value of $197,600.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 148,800 shares of company stock worth $697,505. Corporate insiders own 10.60% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the stock. BlackRock Inc. increased its holdings in Limelight Networks by 0.3% during the 3rd quarter. BlackRock Inc. now owns 7,729,999 shares of the information services provider’s stock worth $38,805,000 after purchasing an additional 22,448 shares during the period. Cim Investment Mangement Inc. increased its holdings in Limelight Networks by 117.0% during the 3rd quarter. Cim Investment Mangement Inc. now owns 88,260 shares of the information services provider’s stock worth $443,000 after purchasing an additional 47,579 shares during the period. MML Investors Services LLC purchased a new position in Limelight Networks during the 3rd quarter worth $106,000. Wasatch Advisors Inc. purchased a new position in Limelight Networks during the 3rd quarter worth $5,741,000. Finally, JPMorgan Chase & Co. increased its holdings in Limelight Networks by 42.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 2,787,660 shares of the information services provider’s stock worth $13,994,000 after purchasing an additional 832,689 shares during the period. Institutional investors own 73.51% of the company’s stock.

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About Limelight Networks (NASDAQ:LLNW)

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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