Limelight Networks (LLNW) Reaches New 52-Week Low at $3.14

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Limelight Networks, Inc. (NASDAQ:LLNW) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $3.14 and last traded at $3.24, with a volume of 15776 shares trading hands. The stock had previously closed at $3.23.

LLNW has been the subject of a number of recent research reports. BidaskClub downgraded 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 Limelight Networks and gave the company a “buy” rating in a research report on Monday, October 8th. TheStreet cut Limelight Networks from a “b-” rating to a “c+” rating in a research report on Tuesday, October 30th. ValuEngine cut Limelight Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, November 6th. Finally, Craig Hallum started coverage on Limelight Networks in a research report on Monday, August 27th. They set a “buy” rating and a $6.00 price objective on the stock. Two analysts have rated the stock with a sell rating, one has given a hold rating and five have issued a buy rating to the stock. Limelight Networks has an average rating of “Hold” and an average price target of $6.21.

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

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

In related news, CEO Robert A. Lento sold 40,000 shares of the business’s stock in a transaction that occurred on Thursday, November 1st. The stock was sold at an average price of $4.02, for a total value of $160,800.00. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Kurt Silverman sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $5.00, for a total value of $37,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 95,000 shares of company stock worth $433,400. Insiders own 10.60% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. MML Investors Services LLC purchased a new position in Limelight Networks in the 3rd quarter worth approximately $106,000. Macquarie Group Ltd. purchased a new position in Limelight Networks in the 2nd quarter worth approximately $139,000. Cim Investment Mangement Inc. purchased a new position in Limelight Networks in the 2nd quarter worth approximately $182,000. NJ State Employees Deferred Compensation Plan purchased a new position in Limelight Networks in the 3rd quarter worth approximately $251,000. Finally, Russell Investments Group Ltd. purchased a new position in Limelight Networks in the 2nd quarter worth approximately $261,000. 73.99% of the stock is currently owned by institutional investors.

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Limelight Networks Company Profile (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.

See Also: Ex-Dividend

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