Limelight Networks, Inc. (NASDAQ:LLNW) saw a large decrease in short interest in the month of December. As of December 29th, there was short interest totalling 540,596 shares, a decrease of 48.1% from the December 15th total of 1,041,171 shares. Approximately 0.5% of the company’s stock are short sold. Based on an average daily volume of 837,373 shares, the short-interest ratio is currently 0.6 days.
LLNW has been the topic of a number of research reports. B. Riley reiterated a “buy” rating and issued a $6.00 target price on shares of Limelight Networks in a report on Wednesday, December 13th. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 price objective on the stock in a report on Friday, October 20th. DA Davidson set a $5.50 price objective on Limelight Networks and gave the stock a “buy” rating in a report on Monday, October 16th. Finally, BidaskClub downgraded Limelight Networks from a “buy” rating to a “hold” rating in a report on Wednesday, December 27th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $5.00.
Limelight Networks (LLNW) opened at $4.28 on Thursday. Limelight Networks has a twelve month low of $2.02 and a twelve month high of $6.05. The company has a market capitalization of $469.56, a P/E ratio of -42.80, a P/E/G ratio of 634.50 and a beta of 2.54.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 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 for the quarter, compared to the consensus estimate of $43.09 million. The company’s quarterly revenue was up 16.7% compared to the same quarter last year. equities research analysts forecast 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 company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total value of $65,250,000.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. 37.60% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in LLNW. Dorsey & Whitney Trust CO LLC grew its holdings in Limelight Networks by 26.8% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock valued at $140,000 after purchasing an additional 10,270 shares during the last quarter. Wolverine Trading LLC grew its holdings in Limelight Networks by 761.3% during the third quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock valued at $150,000 after purchasing an additional 43,477 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Limelight Networks by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after purchasing an additional 3,090 shares during the last quarter. OxFORD Asset Management LLP grew its holdings in Limelight Networks by 115.3% during the second quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock valued at $209,000 after purchasing an additional 38,647 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Limelight Networks during the second quarter valued at approximately $220,000. Hedge funds and other 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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