BidaskClub Downgrades Limelight Networks (LLNW) to Strong Sell

Limelight Networks (NASDAQ:LLNW) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a research report issued to clients and investors on Saturday.

A number of other equities analysts also recently commented on the stock. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “strong-buy” rating and set a $4.50 target price on the stock in a research note on Friday, April 6th. ValuEngine downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Finally, Oppenheimer began coverage on shares of Limelight Networks in a report on Monday, April 16th. They set an “outperform” rating and a $6.00 price target for the company. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and five have issued a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $5.85.

Shares of Limelight Networks opened at $4.47 on Friday, MarketBeat.com reports. Limelight Networks has a 52 week low of $2.82 and a 52 week high of $6.05. The firm has a market capitalization of $494.63 million, a PE ratio of -223.50, a price-to-earnings-growth ratio of 55.88 and a beta of 2.33.

Limelight Networks (NASDAQ:LLNW) last issued its earnings results on Thursday, April 19th. The information services provider reported $0.06 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.04. Limelight Networks had a negative net margin of 2.16% and a positive return on equity of 1.50%. The business had revenue of $52.11 million for the quarter, compared to the consensus estimate of $48.17 million. During the same quarter last year, the firm posted $0.02 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. sell-side analysts forecast that Limelight Networks will post 0.04 earnings per share for the current year.

In related news, SVP Kurt Silverman sold 15,000 shares of the firm’s stock in a transaction on Friday, April 20th. The shares were sold at an average price of $5.01, for a total transaction of $75,150.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sajid Malhotra sold 151,305 shares of the firm’s stock in a transaction on Thursday, April 26th. The shares were sold at an average price of $5.22, for a total transaction of $789,812.10. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 428,076 shares of company stock valued at $2,200,781. Company insiders own 10.60% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Investors Research Corp acquired a new position in Limelight Networks during the 4th quarter worth $121,000. Teacher Retirement System of Texas acquired a new position in Limelight Networks during the 4th quarter worth $129,000. J. Goldman & Co LP acquired a new position in Limelight Networks during the 4th quarter worth $161,000. BlueCrest Capital Management Ltd acquired a new position in Limelight Networks during the 4th quarter worth $163,000. Finally, WINTON GROUP Ltd acquired a new position in Limelight Networks during the 1st quarter worth $172,000. 70.57% of the stock is owned by institutional investors.

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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