Limelight Networks Sees Unusually High Options Volume (LLNW)

Limelight Networks, Inc. (NASDAQ:LLNW) was the target of unusually large options trading on Thursday. Traders acquired 6,286 call options on the stock. This represents an increase of 1,005% compared to the average daily volume of 569 call options.

In other Limelight Networks news, insider Kurt Silverman sold 7,500 shares of the company’s 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 Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Robert A. Lento sold 40,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $4.89, for a total value of $195,600.00. The disclosure for this sale can be found here. Insiders sold a total of 154,900 shares of company stock valued at $741,016 over the last 90 days. 10.60% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently modified their holdings of the company. Campbell & CO Investment Adviser LLC purchased a new stake in shares of Limelight Networks during the 2nd quarter worth approximately $125,000. Macquarie Group Ltd. purchased a new stake in shares of Limelight Networks during the 2nd quarter worth approximately $139,000. WINTON GROUP Ltd purchased a new stake in shares of Limelight Networks during the 1st quarter worth approximately $172,000. MetLife Investment Advisors LLC raised its holdings in shares of Limelight Networks by 172.6% during the 1st quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock worth $180,000 after acquiring an additional 27,754 shares in the last quarter. Finally, Cim Investment Mangement Inc. purchased a new stake in shares of Limelight Networks during the 2nd quarter worth approximately $182,000. 72.85% of the stock is currently owned by institutional investors and hedge funds.

LLNW has been the subject of several recent analyst reports. TheStreet upgraded Limelight Networks from a “c” rating to a “b-” rating in a research note on Thursday, July 19th. Cowen restated a “buy” rating and issued a $6.50 price target on shares of Limelight Networks in a research note on Friday, July 20th. ValuEngine downgraded Limelight Networks from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, June 26th. DA Davidson restated a “buy” rating on shares of Limelight Networks in a research note on Monday, July 16th. Finally, Craig Hallum initiated coverage on Limelight Networks in a research note on Monday, August 27th. They issued a “buy” 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 six have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $6.21.

LLNW stock opened at $4.25 on Friday. The company has a market capitalization of $558.70 million, a price-to-earnings ratio of -215.50, a price-to-earnings-growth ratio of 13.23 and a beta of 2.33. Limelight Networks has a 1-year low of $3.69 and a 1-year high of $6.05.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Thursday, October 18th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.03. The business had revenue of $49.32 million for the quarter, compared to analysts’ expectations of $49.01 million. Limelight Networks had a return on equity of 1.99% and a net margin of 6.43%. The company’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.02 EPS. On average, equities analysts anticipate that Limelight Networks will post 0.03 earnings per share for the current fiscal year.

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.

Further Reading: Fundamental Analysis and Individual Investors

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