Limelight Networks (NASDAQ:LLNW) Rating Increased to Sell at BidaskClub

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BidaskClub upgraded shares of Limelight Networks (NASDAQ:LLNW) from a strong sell rating to a sell rating in a research report report published on Saturday, BidAskClub reports.

Several other equities research analysts have also recently weighed in on the company. Zacks Investment Research upgraded Hallmark Financial Services from a hold rating to a buy rating and set a $16.00 price objective for the company in a report on Friday, July 19th. B. Riley set a $82.00 target price on Consolidated-Tomoka Land and gave the company a buy rating in a research note on Monday, July 15th. Finally, DA Davidson set a $16.00 target price on Redfin and gave the company a hold rating in a research note on Tuesday, July 2nd. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the company. Limelight Networks has an average rating of Hold and a consensus price target of $4.57.

Shares of LLNW stock opened at $2.65 on Friday. The stock has a market cap of $289.34 million, a PE ratio of -132.50 and a beta of 2.08. Limelight Networks has a 1-year low of $2.20 and a 1-year high of $5.32. The firm’s 50-day moving average is $2.62. The company has a debt-to-equity ratio of 0.01, a current ratio of 2.10 and a quick ratio of 2.10.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.02). Limelight Networks had a negative return on equity of 13.07% and a negative net margin of 11.63%. The business had revenue of $45.90 million during the quarter, compared to analysts’ expectations of $46.40 million. During the same quarter last year, the business posted $0.04 EPS. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Research analysts anticipate that Limelight Networks will post -0.13 EPS for the current fiscal year.

In related news, SVP Thomas Marth acquired 21,550 shares of Limelight Networks stock in a transaction that occurred on Thursday, July 25th. The stock was bought at an average price of $2.32 per share, with a total value of $49,996.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Sajid Malhotra acquired 20,000 shares of Limelight Networks stock in a transaction that occurred on Wednesday, July 24th. The shares were bought at an average cost of $2.28 per share, with a total value of $45,600.00. The disclosure for this purchase can be found here. Company insiders own 10.40% of the company’s stock.

Several institutional investors have recently bought and sold shares of the business. B. Riley Wealth Management Inc. bought a new stake in shares of Limelight Networks in the 1st quarter worth $119,000. Marshall Wace North America L.P. increased its holdings in shares of Limelight Networks by 51.5% in the 1st quarter. Marshall Wace North America L.P. now owns 384,909 shares of the information services provider’s stock worth $1,243,000 after purchasing an additional 130,918 shares in the last quarter. Meitav Dash Investments Ltd. bought a new stake in shares of Limelight Networks in the 1st quarter worth $44,000. Federated Investors Inc. PA increased its holdings in shares of Limelight Networks by 23.5% in the 1st quarter. Federated Investors Inc. PA now owns 4,325,000 shares of the information services provider’s stock worth $13,970,000 after purchasing an additional 822,552 shares in the last quarter. Finally, Royce & Associates LP increased its holdings in shares of Limelight Networks by 53.0% in the 1st quarter. Royce & Associates LP now owns 923,366 shares of the information services provider’s stock worth $2,982,000 after purchasing an additional 320,000 shares in the last quarter. 71.94% of the stock is owned by institutional investors and hedge funds.

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, social, and other digital initiatives.

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