Limelight Networks, Inc. (NASDAQ:LLNW)’s share price traded down 5% on Tuesday . The stock traded as low as $4.67 and last traded at $4.71. 1,784,600 shares were traded during mid-day trading, an increase of 251% from the average session volume of 509,018 shares. The stock had previously closed at $4.96.

A number of equities research analysts have commented on the stock. B. Riley restated a “buy” rating and set a $6.00 target price on shares of Limelight Networks in a research note on Monday. Zacks Investment Research upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and set a $5.00 target price on the stock in a research note on Friday, October 20th. Cowen restated an “outperform” rating and set a $6.00 target price (up previously from $4.00) on shares of Limelight Networks in a research note on Thursday, October 19th. DA Davidson set a $5.50 target price on shares of Limelight Networks and gave the stock a “buy” rating in a research note on Monday, October 16th. Finally, BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. One analyst has rated the stock with a hold rating and five have given a buy rating to the stock. Limelight Networks currently has a consensus rating of “Buy” and an average price target of $5.00.

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

Several institutional investors have recently added to or reduced their stakes in the company. American International Group Inc. grew its holdings in shares of Limelight Networks by 7.1% in the first quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 2,913 shares in the last quarter. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Limelight Networks by 26.8% in 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 in the last quarter. Wolverine Trading LLC grew its holdings in shares of Limelight Networks by 761.3% in 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 in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Limelight Networks by 4.8% in 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 in the last quarter. Finally, OxFORD Asset Management LLP grew its holdings in shares of Limelight Networks by 115.3% in 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 in the last quarter. Hedge funds and other institutional investors own 70.27% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: This piece was first reported by The Cerbat Gem and is the property of of The Cerbat Gem. If you are viewing this piece on another publication, it was stolen and reposted in violation of U.S. and international copyright legislation. The correct version of this piece can be viewed at https://www.thecerbatgem.com/2017/12/07/limelight-networks-llnw-shares-down-5.html.

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.

Receive News & Ratings for Limelight Networks Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks Inc. and related companies with MarketBeat.com's FREE daily email newsletter.