Limelight Networks (LLNW) Hits New 12-Month Low at $3.14

Limelight Networks, Inc. (NASDAQ:LLNW)’s share price reached a new 52-week low on Thursday . The stock traded as low as $3.14 and last traded at $3.24, with a volume of 15776 shares changing hands. The stock had previously closed at $3.23.

Several equities analysts have recently weighed in on the company. BidaskClub downgraded Limelight Networks from a “sell” rating to a “strong sell” rating in a research report on Tuesday, November 13th. ValuEngine downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. TheStreet downgraded Limelight Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. DA Davidson set a $7.00 target price on Limelight Networks and gave the company a “buy” rating in a research report on Monday, October 8th. Finally, Craig Hallum assumed coverage on Limelight Networks in a research report on Monday, August 27th. They set a “buy” rating and a $6.00 target price on the stock. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $6.21.

The stock has a market cap of $367.91 million, a price-to-earnings ratio of -157.00, a P/E/G ratio of 7.22 and a beta of 2.42.

Limelight Networks (NASDAQ:LLNW) last released its earnings results on Thursday, October 18th. The information services provider reported $0.03 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate 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 revenue for the quarter was up 7.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.02 EPS. On average, equities research analysts forecast that Limelight Networks, Inc. will post 0.03 EPS for the current year.

In other Limelight Networks news, insider Kurt Silverman sold 7,500 shares of the company’s stock in a transaction on Monday, October 1st. The stock was sold at an average price of $5.00, for a total value of $37,500.00. The sale was disclosed in a filing with the SEC, which is available at 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. Insiders sold a total of 95,000 shares of company stock worth $433,400 in the last ninety days. 10.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the business. Marshall Wace LLP grew its position in Limelight Networks by 329.5% in the 3rd quarter. Marshall Wace LLP now owns 1,052,358 shares of the information services provider’s stock valued at $5,283,000 after acquiring an additional 807,359 shares during the last quarter. Vanguard Group Inc. grew its position in Limelight Networks by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 4,881,182 shares of the information services provider’s stock valued at $24,503,000 after acquiring an additional 21,464 shares during the last quarter. TIAA CREF Investment Management LLC grew its position in Limelight Networks by 5.2% in the 3rd quarter. TIAA CREF Investment Management LLC now owns 1,491,307 shares of the information services provider’s stock valued at $7,486,000 after acquiring an additional 73,226 shares during the last quarter. Teachers Advisors LLC grew its position in Limelight Networks by 14.8% in the 3rd quarter. Teachers Advisors LLC now owns 710,842 shares of the information services provider’s stock valued at $3,568,000 after acquiring an additional 91,737 shares during the last quarter. Finally, AQR Capital Management LLC grew its position in Limelight Networks by 96.9% in the 3rd quarter. AQR Capital Management LLC now owns 1,131,093 shares of the information services provider’s stock valued at $5,678,000 after acquiring an additional 556,541 shares during the last quarter. 73.99% of the stock is currently owned by institutional investors.

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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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