Limelight Networks (NASDAQ:LLNW) Trading 7.6% Higher

Limelight Networks, Inc. (NASDAQ:LLNW) shares traded up 7.6% during mid-day trading on Tuesday . The stock traded as high as $4.60 and last traded at $4.55, 1,458,300 shares traded hands during trading. An increase of 57% from the average session volume of 926,541 shares. The stock had previously closed at $4.23.

Several equities research analysts have issued reports on the stock. B. Riley boosted their price objective on shares of Limelight Networks from $3.70 to $4.10 and gave the stock a “buy” rating in a research note on Thursday, October 17th. ValuEngine upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Limelight Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 18th. Finally, BidaskClub upgraded shares of Limelight Networks from a “buy” rating to a “strong-buy” rating in a research note on Thursday, October 24th. Three equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.40.

The company has a quick ratio of 1.74, a current ratio of 1.74 and a debt-to-equity ratio of 0.08. The firm’s 50 day simple moving average is $3.63 and its 200-day simple moving average is $2.97. The company has a market capitalization of $495.23 million, a PE ratio of -227.50 and a beta of 2.22.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings data on Wednesday, October 16th. The information services provider reported $0.01 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.01. The company had revenue of $51.32 million during the quarter, compared to the consensus estimate of $49.89 million. Limelight Networks had a negative net margin of 12.84% and a negative return on equity of 14.82%. Limelight Networks’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.03 earnings per share. As a group, sell-side analysts anticipate that Limelight Networks, Inc. will post -0.14 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. Creative Financial Designs Inc. ADV boosted its stake in shares of Limelight Networks by 12.6% in the third quarter. Creative Financial Designs Inc. ADV now owns 41,900 shares of the information services provider’s stock valued at $121,000 after purchasing an additional 4,700 shares during the period. Rhumbline Advisers boosted its stake in shares of Limelight Networks by 5.5% in the third quarter. Rhumbline Advisers now owns 161,577 shares of the information services provider’s stock valued at $490,000 after purchasing an additional 8,475 shares during the period. Northern Trust Corp boosted its stake in shares of Limelight Networks by 0.7% in the second quarter. Northern Trust Corp now owns 1,350,061 shares of the information services provider’s stock valued at $3,645,000 after purchasing an additional 9,127 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of Limelight Networks by 3.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 268,479 shares of the information services provider’s stock valued at $725,000 after purchasing an additional 9,222 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in shares of Limelight Networks by 5.8% in the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 220,154 shares of the information services provider’s stock valued at $594,000 after purchasing an additional 12,100 shares during the period. Institutional investors and hedge funds own 74.81% of the company’s stock.

About Limelight Networks (NASDAQ:LLNW)

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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