Limelight Networks, Inc. (NASDAQ:LLNW) shares traded up 4% on Wednesday following a stronger than expected earnings report. The stock traded as high as $4.47 and last traded at $4.28. 559,542 shares changed hands during trading, a decline of 14% from the average session volume of 648,706 shares. The stock had previously closed at $4.46.

The information services provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.01 by $0.03. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The company had revenue of $48.19 million for the quarter, compared to analysts’ expectations of $47.74 million. During the same period last year, the firm posted $0.02 earnings per share. Limelight Networks’s revenue was up 10.1% compared to the same quarter last year.

Several equities research analysts recently commented on the company. B. Riley reaffirmed a “buy” rating and set a $6.00 price objective on shares of Limelight Networks in a research report on Thursday, January 18th. BidaskClub cut Limelight Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, December 27th. Zacks Investment Research cut Limelight Networks from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 19th. Cowen reissued an “outperform” rating and issued a $6.00 target price (up from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. Finally, DA Davidson set a $5.50 target price on Limelight Networks and gave the stock a “buy” rating in a research report on Monday, October 16th. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $5.00.

In other Limelight Networks news, Director Mark J. Midle sold 15,000,000 shares of the firm’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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 37.60% of the company’s stock.

A number of large investors have recently made changes to their positions in LLNW. Teacher Retirement System of Texas purchased a new position in Limelight Networks in the fourth quarter worth about $129,000. Wolverine Trading LLC boosted its position in Limelight Networks by 761.3% in 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 boosted its position in Limelight Networks by 4.8% in 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 boosted its position in Limelight Networks by 115.3% in 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. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Limelight Networks in the second quarter worth about $220,000. 70.27% of the stock is currently owned by institutional investors and hedge funds.

The company has a market cap of $458.59, a PE ratio of -41.80, a PEG ratio of 669.00 and a beta of 2.45.

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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.

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