Limelight Networks Target of Unusually High Options Trading (NASDAQ:LLNW)

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Limelight Networks, Inc. (NASDAQ:LLNW) was the recipient of some unusual options trading activity on Thursday. Investors acquired 6,286 call options on the stock. This is an increase of approximately 1,005% compared to the typical daily volume of 569 call options.

In related news, CEO Robert A. Lento sold 40,000 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $4.94, for a total value of $197,600.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kurt Silverman sold 7,500 shares of the business’s stock in a transaction dated Thursday, August 30th. 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. In the last three months, insiders have sold 148,800 shares of company stock worth $697,505. Corporate insiders own 10.60% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the stock. MML Investors Services LLC acquired a new position in Limelight Networks in the third quarter valued at approximately $106,000. Campbell & CO Investment Adviser LLC acquired a new position in Limelight Networks in the second quarter valued at approximately $125,000. Macquarie Group Ltd. acquired a new position in Limelight Networks in the second quarter valued at approximately $139,000. Cim Investment Mangement Inc. acquired a new position in Limelight Networks in the second quarter valued at approximately $182,000. Finally, WINTON GROUP Ltd acquired a new position in Limelight Networks in the first quarter valued at approximately $172,000. 73.51% of the stock is owned by hedge funds and other institutional investors.

Several analysts recently issued reports on the stock. ValuEngine lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday. TheStreet lowered shares of Limelight Networks from a “b-” rating to a “c+” rating in a report on Tuesday, October 30th. BidaskClub lowered 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 target on shares of Limelight Networks and gave the stock a “buy” rating in a research note on Monday, October 8th. Finally, Craig Hallum initiated coverage on shares of Limelight Networks in a research note on Monday, August 27th. They set a “buy” rating and a $6.00 price target on the stock. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and five have issued a buy rating to the company. Limelight Networks currently has an average rating of “Hold” and a consensus price target of $6.21.

Shares of Limelight Networks stock traded down $0.13 on Friday, reaching $3.70. 536,667 shares of the company were exchanged, compared to its average volume of 1,069,628. Limelight Networks has a 1-year low of $3.68 and a 1-year high of $6.05. The company has a market cap of $436.96 million, a PE ratio of -185.00, a P/E/G ratio of 8.58 and a beta of 2.47.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Thursday, October 18th. The information services provider reported $0.03 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.03. The business had revenue of $49.32 million during 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 business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.02 earnings per share. On average, analysts forecast that Limelight Networks will post 0.03 EPS for the current year.

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Limelight Networks Company Profile

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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