JPMorgan Chase & Co. lifted its stake in Limelight Networks, Inc. (NASDAQ:LLNW) by 42.6% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,787,660 shares of the information services provider’s stock after buying an additional 832,689 shares during the quarter. JPMorgan Chase & Co. owned about 2.46% of Limelight Networks worth $13,994,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors also recently bought and sold shares of LLNW. Macquarie Group Ltd. bought a new stake in Limelight Networks during the 2nd quarter valued at approximately $139,000. Cim Investment Mangement Inc. bought a new stake in Limelight Networks during the 2nd quarter valued at approximately $182,000. NJ State Employees Deferred Compensation Plan bought a new stake in Limelight Networks during the 3rd quarter valued at approximately $251,000. Russell Investments Group Ltd. bought a new stake in Limelight Networks during the 2nd quarter valued at approximately $261,000. Finally, PEAK6 Investments L.P. raised its stake in Limelight Networks by 371.6% during the 2nd quarter. PEAK6 Investments L.P. now owns 68,813 shares of the information services provider’s stock valued at $308,000 after purchasing an additional 54,222 shares during the period. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
NASDAQ:LLNW opened at $3.14 on Friday. Limelight Networks, Inc. has a 1 year low of $3.12 and a 1 year high of $5.52. The company has a market capitalization of $367.91 million, a price-to-earnings ratio of 108.33, a PEG ratio of 7.22 and a beta of 2.42.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Thursday, October 18th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $49.32 million for the quarter, compared to the consensus estimate of $49.01 million. During the same quarter in the previous year, the company posted $0.02 EPS. The company’s revenue was up 7.0% compared to the same quarter last year. On average, sell-side analysts expect that Limelight Networks, Inc. will post 0.03 earnings per share for the current year.
In other Limelight Networks news, insider Kurt Silverman sold 7,500 shares of Limelight Networks 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of Limelight Networks stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $4.94, for a total value of $197,600.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 95,000 shares of company stock worth $433,400. Corporate insiders own 10.60% of the company’s stock.
Several brokerages recently issued reports on LLNW. BidaskClub raised Limelight Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Craig Hallum began coverage on Limelight Networks in a research note on Monday, August 27th. They set a “buy” rating and a $6.00 target price on the stock. DA Davidson set a $7.00 target price on Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 8th. TheStreet downgraded Limelight Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Finally, ValuEngine downgraded Limelight Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $6.21.
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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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