JPMorgan Chase & Co. lowered its position in EarthLink Holdings Corp. (NASDAQ:ELNK) by 0.6% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,921,543 shares of the company’s stock after selling 12,425 shares during the period. JPMorgan Chase & Co. owned 1.83% of EarthLink Holdings Corp. worth $12,298,000 as of its most recent filing with the SEC.
Several other large investors have also recently made changes to their positions in the company. Renaissance Technologies LLC boosted its stake in shares of 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. Bank of New York Mellon Corp boosted its stake in shares of EarthLink Holdings Corp. by 4.2% in the second quarter. Bank of New York Mellon Corp now owns 736,486 shares of the company’s stock worth $4,714,000 after buying an additional 29,621 shares during the period. BlackRock Group LTD boosted its stake in shares of 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 boosted its stake in shares of 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. Finally, Fox Run Management L.L.C. purchased a new stake in shares of EarthLink Holdings Corp. during the second quarter worth about $125,000. Institutional investors and hedge funds own 89.02% of the company’s stock.
Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) traded down 0.65% during midday trading on Monday, reaching $6.16. 144,984 shares of the company’s stock were exchanged. The company’s 50 day moving average is $6.31 and its 200-day moving average is $6.25. The stock’s market cap is $649.84 million. EarthLink Holdings Corp. has a 12 month low of $4.97 and a 12 month high of $9.86.
EarthLink Holdings Corp. (NASDAQ:ELNK) last announced its earnings results on Monday, August 8th. The company reported $0.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.01. EarthLink Holdings Corp. had a negative return on equity of 43.21% and a negative net margin of 1.06%. The firm earned $240.40 million during the quarter, compared to analyst estimates of $246.40 million. During the same period last year, the firm posted ($0.10) EPS. The business’s revenue was down 15.3% compared to the same quarter last year. Equities analysts forecast that EarthLink Holdings Corp. will post $0.08 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend is Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio is presently -181.82%.
A number of equities research analysts recently issued reports on ELNK shares. Zacks Investment Research cut shares of EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a research report on Thursday, August 11th. Barclays PLC increased their target price on shares of EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a research report on Thursday, August 18th. Mitsubishi UFJ Financial Group cut shares of EarthLink Holdings Corp. from a “neutral” rating to an “underweight” rating in a research report on Friday, June 10th. Finally, B. Riley started coverage on shares of EarthLink Holdings Corp. in a research report on Sunday, August 14th. They set a “buy” rating and a $10.00 target price for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $10.44.
In other news, EVP Rick C. Froehlich sold 31,499 shares of the firm’s stock in a transaction on Monday, September 12th. The stock was sold at an average price of $6.33, for a total transaction of $199,388.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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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