Lucus Advisors LLC reduced its position in shares of EarthLink Holdings Corp. (NASDAQ:ELNK) by 39.7% during the second quarter, Holdings Channel reports. The firm owned 55,298 shares of the company’s stock after selling 36,403 shares during the period. Lucus Advisors LLC’s holdings in EarthLink Holdings Corp. were worth $354,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently added to or reduced their stakes in ELNK. Renaissance Technologies LLC raised its position in EarthLink Holdings Corp. by 2.0% in the first quarter. Renaissance Technologies LLC now owns 8,173,139 shares of the company’s stock worth $46,342,000 after buying an additional 158,700 shares during the period. BlackRock Group LTD raised its position in EarthLink Holdings Corp. by 9.8% in the first quarter. BlackRock Group LTD now owns 146,817 shares of the company’s stock worth $832,000 after buying an additional 13,066 shares during the period. AXA raised its position in EarthLink Holdings Corp. by 10.3% in the first quarter. AXA now owns 329,700 shares of the company’s stock worth $1,869,000 after buying an additional 30,900 shares during the period. Panagora Asset Management Inc. raised its position in EarthLink Holdings Corp. by 33.5% in the first quarter. Panagora Asset Management Inc. now owns 1,124,869 shares of the company’s stock worth $6,378,000 after buying an additional 282,565 shares during the period. Finally, Smith Asset Management Group LP raised its position in EarthLink Holdings Corp. by 13.6% in the second quarter. Smith Asset Management Group LP now owns 457,550 shares of the company’s stock worth $2,928,000 after buying an additional 54,860 shares during the period. Hedge funds and other institutional investors own 89.02% of the company’s stock.
Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) traded up 1.46% during trading on Wednesday, hitting $6.25. 299,621 shares of the stock were exchanged. The firm’s market capitalization is $659.34 million. The firm has a 50 day moving average price of $6.33 and a 200 day moving average price of $6.25. EarthLink Holdings Corp. has a 52 week low of $4.97 and a 52 week high of $9.86.
EarthLink Holdings Corp. (NASDAQ:ELNK) last posted its earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.01. The company earned $240.40 million during the quarter, compared to analysts’ expectations of $246.40 million. EarthLink Holdings Corp. had a negative net margin of 1.06% and a negative return on equity of 43.21%. EarthLink Holdings Corp.’s quarterly revenue was down 15.3% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. Analysts forecast that EarthLink Holdings Corp. will post $0.08 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be paid a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend is Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio is presently -181.82%.
ELNK has been the topic of a number of recent analyst reports. Zacks Investment Research lowered shares of EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 11th. Barclays PLC boosted their price target on shares of EarthLink Holdings Corp. to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. Mitsubishi UFJ Financial Group lowered shares of EarthLink Holdings Corp. from a “neutral” rating to an “underweight” rating in a research report on Friday, June 10th. Finally, B. Riley initiated coverage on shares of EarthLink Holdings Corp. in a research report on Sunday, August 14th. They issued a “buy” rating and a $10.00 price target on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $10.44.
In other news, EVP Rick C. Froehlich sold 31,499 shares of the firm’s stock in a transaction dated Monday, September 12th. The shares were sold at an average price of $6.33, for a total transaction of $199,388.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.70% of the company’s stock.
EarthLink Holdings Corp. Company Profile
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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