BlackRock Fund Advisors recently announced the acquisition of new stake in Limelight Networks Inc. (NASDAQ:LLNW). The institutional investor has increased its shareholding in the Technology company by 7.55% to 7.85 million shares with purchase of 0.55 million shares. This fresh investment now brings its stake to 6.43% valued currently at $49.21 million. In addition, Lord, Abbett & Co. LLC raised its holdings by 1.52 million to 5.96 million shares. And Federated Global Investment Manag.. has lifted its position by 10.53% or 0.49 million shares – to 5.17 million shares.
With over 3.44 million Limelight Networks Inc. (LLNW) shares trading Tuesday and a closing price of $5.75 on the day, the dollar volume was approximately $19.8 million. The shares have shown a negative weekly performance of -2.21% and its price on 09/01/20 gained nearly 1.41%. Currently, there are 120.23M common shares owned by the public and among those 117.18M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 9 analysts who have offered their price forecasts for LLNW have a consensus price objective of $8.86. The analysts have set the share’s price value over the next 12 months at a high of $10.00 and a low of $7.60 should the stock experience a downside. Incidentally, analysts’ outlook for the Limelight Networks Inc. stock is 1.90 for the next 12 months. The average price target is 35.1% above its last price level and an upside to the estimated low will see the stock gain 24.34% over that period. But an upside of 42.5% will see the stock hit the forecast high price target while mean target price for the stock is $9.00.
Insiders at the company have transacted a total of 169 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 69 of these insider trades were purchases, accounting for 2,048,387 shares. Insider sales of the common stock occurred on 100 occasions, with total insider shares sold totaling 1,918,578 shares.
The top 3 mutual fund holders in Limelight Networks Inc. are Federated Hermes Kaufmann Small C, Vanguard Total Stock Market Index, and iShares Russell 2000 ETF. Federated Hermes Kaufmann Small C owns 5.17 million shares of the company’s stock, all valued at over $32.45 million. The company bought an additional 0.49 million shares recently to bring their total holdings to about 4.24% of the shares outstanding. Vanguard Total Stock Market Index bought 1036.0 shares to see its total holdings expand to 3.08 million shares valued at over $19.29 million and representing 2.52% of the shares outstanding. iShares Russell 2000 ETF sold -0.11 million shares to bring its total holdings to over 2.39 million shares at a value of $14.99 million. iShares Russell 2000 ETF now owns shares totaling to 1.96% of the shares outstanding.
Shares of Limelight Networks Inc. (NASDAQ: LLNW) opened at $5.66, down -$0.01 from a prior closing price of $5.67. However, the script later closed the day at $5.75, up 1.41%. The company’s stock has a 5-day price change of -2.21% and 14.77% over the past three months. LLNW shares are trading 40.93% year to date (YTD), with the 12-month market performance up to 137.60% higher. It has a 12-month low price of $2.37 and touched a high of $8.19 over the same period. Currently, 3.44 million shares have been traded, compared to an average intraday trading volume of 3.39 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.42%, -12.89%, and 7.25% respectively.
Institutional ownership of Limelight Networks Inc. (NASDAQ: LLNW) shares accounts for 81.50% of the company’s 120.23M shares outstanding. Mutual fund holders own 45.17%, while other institutional holders and individual stakeholders account for 46.96% and 34.30% respectively.
It has a market capitalization of $693.34M and a beta (3y monthly) value of 0.61. The earnings-per-share (ttm) stands at -$0.04. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.51% over the week and 4.59% over the month.
Analysts forecast that Limelight Networks Inc. (LLNW) will achieve an EPS of $0.02 for the current quarter, $0.03 for the next quarter and $0.13 for 2021. The lowest estimate earnings-per-share for the quarter is $0.01 while analysts give the company a high EPS estimate of $0.03. Comparatively, EPS for the current quarter was $0.01 a year ago. Earnings per share for the fiscal year are expected to decrease by -276.20%, and 59.49% over the next financial year. EPS should grow at an annualized rate of 15.00% over the next five years, compared to 14.20% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 9 brokerage firm advisors rate Limelight Networks Inc. (LLNW) as a “Strong Buy” at a consensus score of 1.90. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 1 of the 9 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the LLNW, a number of firms have released research notes about the stock. Lake Street stated their Buy rating for the stock in a research note on June 22, 2020, with the firm’s price target at $8. Raymond James coverage for the Limelight Networks Inc. (LLNW) stock in a research note released on June 08, 2020 offered a Outperform rating with a price target of $6. Northland Capital was of a view on March 30, 2020 that the stock is Outperform, while William Blair gave the stock Outperform rating on March 06, 2020, issuing a price target of. DA Davidson on their part issued Neutral rating on July 02, 2019.