Limelight Networks (LLNW) Stock Rating Reaffirmed by B. Riley

Limelight Networks (NASDAQ:LLNW)‘s stock had its “buy” rating restated by equities researchers at B. Riley in a research report issued on Friday. They currently have a $6.00 target price on the information services provider’s stock. B. Riley’s price objective points to a potential upside of 33.93% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Cowen reiterated an “outperform” rating and set a $6.00 price objective (up from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. BidaskClub downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, December 27th. Finally, DA Davidson set a $5.50 price objective on Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 16th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Limelight Networks presently has a consensus rating of “Buy” and an average price target of $5.00.

Limelight Networks (LLNW) remained flat at $$4.48 during trading hours on Friday. 567,900 shares of the company’s stock were exchanged, compared to its average volume of 456,300. Limelight Networks has a 52 week low of $2.02 and a 52 week high of $6.05. The firm has a market cap of $507.41, a P/E ratio of -44.80, a PEG ratio of 672.00 and a beta of 2.54.

Limelight Networks (NASDAQ:LLNW) last posted its quarterly earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The firm had revenue of $46.07 million during the quarter, compared to analyst estimates of $43.09 million. The company’s quarterly revenue was up 16.7% on a year-over-year basis. equities analysts predict that Limelight Networks will post -0.04 earnings per share for the current fiscal year.

In other news, Director Mark J. Midle sold 15,000,000 shares of the stock in a transaction on Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 37.60% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Algert Global LLC raised its holdings in shares of Limelight Networks by 16.3% in the 3rd quarter. Algert Global LLC now owns 455,787 shares of the information services provider’s stock valued at $1,809,000 after buying an additional 63,770 shares during the period. Wolverine Trading LLC grew its holdings in shares of Limelight Networks by 761.3% during the 3rd quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock valued at $150,000 after acquiring an additional 43,477 shares in the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Limelight Networks by 61.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 147,000 shares of the information services provider’s stock valued at $584,000 after acquiring an additional 56,100 shares in the last quarter. Wells Fargo & Company MN grew its holdings in shares of Limelight Networks by 72.8% during the 3rd quarter. Wells Fargo & Company MN now owns 77,272 shares of the information services provider’s stock valued at $307,000 after acquiring an additional 32,543 shares in the last quarter. Finally, EAM Investors LLC grew its holdings in shares of Limelight Networks by 64.8% during the 3rd quarter. EAM Investors LLC now owns 714,391 shares of the information services provider’s stock valued at $2,836,000 after acquiring an additional 281,022 shares in the last quarter. Institutional investors own 69.96% of the company’s stock.

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About Limelight Networks

Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.

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