EarthLink Holdings Corp. (ELNK) Stock Price Down 8.1%
Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) were down 8.1% on Tuesday . The company traded as low as $5.65 and last traded at $6.35, with a volume of 1,487,002 shares traded. The stock had previously closed at $6.91.
Several brokerages have recently commented on ELNK. B. Riley restated a “buy” rating and set a $10.00 price target on shares of EarthLink Holdings Corp. in a research note on Tuesday. Zacks Investment Research upgraded EarthLink Holdings Corp. from a “hold” rating to a “strong-buy” rating and set a $7.25 price target on the stock in a research note on Tuesday, July 5th. Mitsubishi UFJ Financial Group lowered EarthLink Holdings Corp. from a “neutral” rating to an “underweight” rating in a research note on Friday, June 10th. TheStreet upgraded EarthLink Holdings Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, May 3rd. Finally, Jefferies Group restated a “hold” rating on shares of EarthLink Holdings Corp. in a research note on Tuesday, May 3rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $8.44.
The stock’s 50-day moving average is $6.59 and its 200-day moving average is $6.09. The company’s market cap is $678.22 million.
EarthLink Holdings Corp. (NASDAQ:ELNK) last released its quarterly earnings data on Monday, August 8th. The company reported $0.04 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.01. The business earned $240.40 million during the quarter, compared to analysts’ expectations of $246.40 million. The company’s revenue was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.10) EPS. Equities research analysts expect that EarthLink Holdings Corp. will post $0.09 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be issued a $0.05 dividend. The ex-dividend date is Friday, September 16th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.05%.
In other news, insider R Michael Thurston sold 15,234 shares of the stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $6.51, for a total value of $99,173.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.
A number of hedge funds and institutional investors have recently added to or reduced their stakes in ELNK. California State Teachers Retirement System increased its position in EarthLink Holdings Corp. by 1.8% in the fourth quarter. California State Teachers Retirement System now owns 191,054 shares of the company’s stock worth $1,420,000 after buying an additional 3,377 shares in the last quarter. Cornerstone Capital Management Holdings LLC. increased its position in EarthLink Holdings Corp. by 12.1% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 528,320 shares of the company’s stock worth $3,925,000 after buying an additional 57,220 shares in the last quarter. Dimensional Fund Advisors LP increased its position in EarthLink Holdings Corp. by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 7,956,637 shares of the company’s stock worth $59,118,000 after buying an additional 157,951 shares in the last quarter. Bank of Montreal Can increased its position in EarthLink Holdings Corp. by 957.3% in the fourth quarter. Bank of Montreal Can now owns 208,308 shares of the company’s stock worth $1,548,000 after buying an additional 188,606 shares in the last quarter. Finally, Matarin Capital Management LLC purchased a new position in EarthLink Holdings Corp. during the fourth quarter worth about $2,616,000.
EarthLink, Inc (EarthLink), is a network, communications and information technology (IT) services provider to business and residential customers in the United States. The Company operates in two segments: Business Services and Consumer Services. EarthLink’s Business Services segment provides a range of data, voice, managed IT and equipment services to business customers.
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