B. Riley Reaffirms “Buy” Rating for Limelight Networks (LLNW)

B. Riley reissued their buy rating on shares of Limelight Networks (NASDAQ:LLNW) in a research report report published on Friday. They currently have a $6.00 price objective on the information services provider’s stock.

LLNW has been the topic of several other research reports. Zacks Investment Research upgraded shares of 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 shares of Limelight Networks and gave the company a buy rating in a report on Monday, October 16th. Cowen reiterated an outperform rating and set a $6.00 price objective (up previously from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. Finally, BidaskClub lowered shares of Limelight Networks from a buy rating to a hold rating in a report on Wednesday, December 27th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Limelight Networks has a consensus rating of Buy and an average price target of $5.00.

Shares of Limelight Networks (NASDAQ:LLNW) traded down $0.01 during midday trading on Friday, hitting $4.69. 508,900 shares of the stock traded hands, compared to its average volume of 610,300. Limelight Networks has a 52-week low of $2.02 and a 52-week high of $6.05. The firm has a market capitalization of $514.55, a price-to-earnings ratio of -46.90, a P/E/G ratio of 705.00 and a beta of 2.54.

Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, October 18th. The information services provider reported $0.02 earnings per share for the quarter. Limelight Networks had a negative net margin of 5.91% and a negative return on equity of 3.29%. The firm had revenue of $46.07 million for the quarter, compared to analyst estimates of $43.09 million. The business’s quarterly revenue was up 16.7% compared to the same quarter last year. equities research analysts anticipate that Limelight Networks will post -0.04 earnings per share for the current year.

In other news, Director Mark J. Midle sold 15,000,000 shares of the business’s stock in a transaction dated Tuesday, December 5th. The shares were sold at an average price of $4.35, for a total transaction of $65,250,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 37.60% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its position in shares of Limelight Networks by 1.3% during the second quarter. Dimensional Fund Advisors LP now owns 3,872,233 shares of the information services provider’s stock worth $11,191,000 after acquiring an additional 50,901 shares in the last quarter. First Washington CORP grew its position in Limelight Networks by 19.7% in the 2nd quarter. First Washington CORP now owns 1,478,176 shares of the information services provider’s stock worth $4,272,000 after purchasing an additional 243,055 shares in the last quarter. State Street Corp grew its position in Limelight Networks by 10.4% in the 2nd quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock worth $3,650,000 after purchasing an additional 118,836 shares in the last quarter. Northern Trust Corp grew its position in Limelight Networks by 13.5% in the 2nd quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock worth $2,356,000 after purchasing an additional 96,776 shares in the last quarter. Finally, EAM Investors LLC grew its position in Limelight Networks by 64.8% in the 3rd quarter. EAM Investors LLC now owns 714,391 shares of the information services provider’s stock worth $2,836,000 after purchasing an additional 281,022 shares in the last quarter. 69.96% of the stock is owned by institutional investors.

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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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