Bob Lyons Buys 55,501 Shares of Limelight Networks, Inc. (NASDAQ:LLNW) Stock

Limelight Networks, Inc. (NASDAQ:LLNWGet Rating) CEO Bob Lyons purchased 55,501 shares of Limelight Networks stock in a transaction dated Wednesday, May 4th. The stock was bought at an average price of $3.60 per share, with a total value of $199,803.60. Following the completion of the purchase, the chief executive officer now directly owns 1,123,963 shares of the company’s stock, valued at $4,046,266.80. The purchase was disclosed in a legal filing with the SEC, which is available through this link.

LLNW opened at $3.71 on Friday. Limelight Networks, Inc. has a 1-year low of $2.30 and a 1-year high of $5.55. The company has a 50 day simple moving average of $4.65 and a two-hundred day simple moving average of $3.86. The company has a current ratio of 3.31, a quick ratio of 3.65 and a debt-to-equity ratio of 0.90.

Limelight Networks (NASDAQ:LLNWGet Rating) last posted its quarterly earnings results on Thursday, April 28th. The information services provider reported ($0.04) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.04). Limelight Networks had a negative net margin of 22.60% and a negative return on equity of 24.22%. The business had revenue of $58.00 million during the quarter, compared to analyst estimates of $56.15 million. During the same period in the prior year, the business posted ($0.11) earnings per share. The company’s revenue was up 13.3% on a year-over-year basis. On average, equities research analysts expect that Limelight Networks, Inc. will post -0.2 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG lifted its holdings in shares of Limelight Networks by 0.4% in the fourth quarter. Deutsche Bank AG now owns 1,132,200 shares of the information services provider’s stock worth $3,883,000 after buying an additional 4,021 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of Limelight Networks by 25.5% in the third quarter. Teacher Retirement System of Texas now owns 19,998 shares of the information services provider’s stock worth $48,000 after buying an additional 4,066 shares in the last quarter. California State Teachers Retirement System lifted its holdings in shares of Limelight Networks by 3.0% in the fourth quarter. California State Teachers Retirement System now owns 174,464 shares of the information services provider’s stock worth $598,000 after buying an additional 5,012 shares in the last quarter. Gamco Investors INC. ET AL lifted its holdings in shares of Limelight Networks by 3.3% in the third quarter. Gamco Investors INC. ET AL now owns 163,050 shares of the information services provider’s stock worth $388,000 after buying an additional 5,200 shares in the last quarter. Finally, Citigroup Inc. lifted its holdings in shares of Limelight Networks by 1.8% in the fourth quarter. Citigroup Inc. now owns 308,805 shares of the information services provider’s stock worth $1,059,000 after buying an additional 5,524 shares in the last quarter. 51.29% of the stock is currently owned by hedge funds and other institutional investors.

LLNW has been the subject of a number of research analyst reports. Northland Securities upgraded shares of Limelight Networks from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $6.50 in a research note on Tuesday, March 8th. StockNews.com initiated coverage on shares of Limelight Networks in a research report on Thursday, March 31st. They set a “hold” rating for the company. Raymond James boosted their target price on shares of Limelight Networks from $5.00 to $8.00 and gave the company a “strong-buy” rating in a research report on Friday, March 11th. Truist Financial upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating and boosted their target price for the company from $3.00 to $7.00 in a research report on Tuesday, January 18th. Finally, TheStreet upgraded shares of Limelight Networks from a “d+” rating to a “c-” rating in a research report on Monday, March 21st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.34.

Limelight Networks Company Profile (Get Rating)

Limelight Networks, Inc provides content delivery network and related services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides online video platforms that integrates and manages advanced video delivery.

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