B. Riley reissued their buy rating on shares of Limelight Networks (NASDAQ:LLNW) in a report published on Thursday. They currently have a $6.00 price objective on the information services provider’s stock.
Other equities analysts have also recently issued research reports about the company. Zacks Investment Research raised Limelight Networks from a hold rating to a buy rating and set a $4.25 price target for the company in a report on Thursday, September 28th. DA Davidson set a $5.50 price objective on Limelight Networks and gave the stock a buy rating in a research report on Monday, October 16th. BidaskClub lowered Limelight Networks from a buy rating to a hold rating in a research report on Wednesday, December 27th. Finally, Cowen restated an outperform rating and set a $6.00 price objective (up previously from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Buy and an average target price of $5.00.
Shares of Limelight Networks (LLNW) opened at $4.45 on Thursday. The stock has a market capitalization of $490.26, a price-to-earnings ratio of -44.50, a P/E/G ratio of 667.51 and a beta of 2.54. Limelight Networks has a one year low of $2.10 and a one year high of $6.05.
In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of the company’s stock in a transaction dated 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 document filed with the SEC, which is available at the SEC website. Insiders own 37.60% of the company’s stock.
Several institutional investors have recently made changes to their positions in LLNW. EAM Investors LLC bought a new stake in shares of Limelight Networks during the 2nd quarter valued at about $1,252,000. Hillsdale Investment Management Inc. acquired a new position in Limelight Networks during the 2nd quarter worth approximately $970,000. State Street Corp raised its stake in Limelight Networks by 10.4% during the 2nd quarter. State Street Corp now owns 1,263,427 shares of the information services provider’s stock worth $3,650,000 after buying an additional 118,836 shares during the period. Northern Trust Corp raised its stake in Limelight Networks by 13.5% during the 2nd quarter. Northern Trust Corp now owns 815,108 shares of the information services provider’s stock worth $2,356,000 after buying an additional 96,776 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new position in Limelight Networks during the 2nd quarter worth approximately $220,000. Institutional investors own 69.96% of the company’s stock.
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About Limelight Networks
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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