Limelight Networks, Inc. (NASDAQ:LLNW) – Analysts at B. Riley lifted their Q3 2018 earnings per share estimates for Limelight Networks in a research report issued to clients and investors on Thursday. B. Riley analyst S. Sinha now expects that the information services provider will earn $0.00 per share for the quarter, up from their prior estimate of ($0.01). B. Riley currently has a “Buy” rating and a $6.00 target price on the stock. B. Riley also issued estimates for Limelight Networks’ Q4 2018 earnings at $0.01 EPS.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Wednesday, February 7th. The information services provider reported $0.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.01 by $0.03. The firm had revenue of $48.19 million during the quarter, compared to analysts’ expectations of $47.74 million. Limelight Networks had a negative net margin of 4.14% and a negative return on equity of 1.51%. The company’s revenue was up 10.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.02 earnings per share.
Shares of Limelight Networks (NASDAQ LLNW) opened at $4.06 on Monday. The stock has a market cap of $445.43, a P/E ratio of -58.00, a price-to-earnings-growth ratio of 609.01 and a beta of 2.45. Limelight Networks has a one year low of $2.10 and a one year high of $6.05.
Several institutional investors have recently modified their holdings of the company. B. Riley Financial Inc. acquired a new stake in shares of Limelight Networks in the fourth quarter worth $8,314,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Limelight Networks by 73.3% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 957,177 shares of the information services provider’s stock worth $4,221,000 after buying an additional 404,942 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Limelight Networks by 1.3% in the fourth quarter. BlackRock Inc. now owns 6,934,194 shares of the information services provider’s stock worth $30,580,000 after buying an additional 88,510 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Limelight Networks by 67.7% in the fourth quarter. Bank of New York Mellon Corp now owns 484,909 shares of the information services provider’s stock worth $2,138,000 after buying an additional 195,808 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in shares of Limelight Networks by 36.4% in the fourth quarter. Wells Fargo & Company MN now owns 105,431 shares of the information services provider’s stock worth $465,000 after buying an additional 28,159 shares during the last quarter. Institutional investors and hedge funds own 70.27% of the company’s stock.
In other news, Director Mark J. Midle sold 15,000,000 shares of the business’s stock in a transaction on Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total value of $65,250,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 37.60% of the stock is currently owned by insiders.
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Limelight Networks Company Profile
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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