Limelight Networks’ (LLNW) “Buy” Rating Reiterated at B. Riley
B. Riley reiterated their buy rating on shares of Limelight Networks (NASDAQ:LLNW) in a research report sent to investors on Thursday morning. B. Riley currently has a $6.00 price target on the information services provider’s stock.
LLNW has been the subject of several other reports. Zacks Investment Research raised Limelight Networks from a hold rating to a buy rating and set a $5.00 price target for the company in a report on Friday, October 20th. DA Davidson set a $5.50 price target on Limelight Networks and gave the company a buy rating in a report on Monday, October 16th. Cowen reissued an outperform rating and issued a $6.00 price target (up from $4.00) on shares of Limelight Networks in a report on Thursday, October 19th. Finally, BidaskClub cut 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 given a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $5.00.
Limelight Networks (NASDAQ:LLNW) opened at $4.45 on Thursday. Limelight Networks has a 12 month low of $2.10 and a 12 month high of $6.05. The firm has a market capitalization of $504.07, a P/E ratio of -44.50, a price-to-earnings-growth ratio of 646.50 and a beta of 2.54.
In other news, Director Mark J. Midle sold 15,000,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total value of $65,250,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 37.60% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of LLNW. Wolverine Trading LLC raised its holdings in Limelight Networks by 761.3% during the third quarter. Wolverine Trading LLC now owns 37,766 shares of the information services provider’s stock worth $150,000 after purchasing an additional 43,477 shares during the last quarter. The Manufacturers Life Insurance Company raised its holdings in Limelight Networks by 4.8% during the second quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock worth $193,000 after purchasing an additional 3,090 shares during the last quarter. OxFORD Asset Management LLP raised its holdings in Limelight Networks by 115.3% during the second quarter. OxFORD Asset Management LLP now owns 72,171 shares of the information services provider’s stock worth $209,000 after purchasing an additional 38,647 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Limelight Networks during the second quarter worth $220,000. Finally, Wells Fargo & Company MN raised its holdings in Limelight Networks by 72.8% during the third quarter. Wells Fargo & Company MN now owns 77,272 shares of the information services provider’s stock worth $307,000 after purchasing an additional 32,543 shares during the last quarter. 69.96% of the stock is owned by institutional investors and hedge funds.
COPYRIGHT VIOLATION NOTICE: This story was first posted by The Cerbat Gem and is the property of of The Cerbat Gem. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.thecerbatgem.com/2018/01/21/limelight-networks-llnw-buy-rating-reiterated-at-b-riley.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 Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Limelight Networks and related companies with MarketBeat.com's FREE daily email newsletter.