Ameriprise Financial Inc. reduced its stake in EarthLink Holdings Corp. (NASDAQ:ELNK) by 22.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419,789 shares of the company’s stock after selling 399,350 shares during the period. Ameriprise Financial Inc. owned 1.35% of EarthLink Holdings Corp. worth $9,087,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Commonwealth Equity Services Inc raised its position in shares of EarthLink Holdings Corp. by 6.5% in the second quarter. Commonwealth Equity Services Inc now owns 16,460 shares of the company’s stock valued at $105,000 after buying an additional 1,001 shares during the period. Suntrust Banks Inc. raised its position in shares of EarthLink Holdings Corp. by 15.3% in the second quarter. Suntrust Banks Inc. now owns 18,343 shares of the company’s stock valued at $116,000 after buying an additional 2,428 shares during the period. Fox Run Management L.L.C. purchased a new position in shares of EarthLink Holdings Corp. during the second quarter valued at $125,000. Pacad Investment Ltd. raised its position in shares of EarthLink Holdings Corp. by 81.7% in the first quarter. Pacad Investment Ltd. now owns 34,700 shares of the company’s stock valued at $197,000 after buying an additional 15,600 shares during the period. Finally, Acrospire Investment Management LLC purchased a new position in shares of EarthLink Holdings Corp. during the first quarter valued at $274,000. 89.02% of the stock is currently owned by institutional investors and hedge funds.
EarthLink Holdings Corp. (NASDAQ:ELNK) traded down 0.401% on Tuesday, reaching $6.205. The company’s stock had a trading volume of 172,905 shares. EarthLink Holdings Corp. has a 1-year low of $4.97 and a 1-year high of $9.86. The company’s market capitalization is $654.59 million. The stock has a 50 day moving average price of $6.30 and a 200-day moving average price of $6.26.
EarthLink Holdings Corp. (NASDAQ:ELNK) last posted its quarterly earnings data on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.01. EarthLink Holdings Corp. had a negative net margin of 1.06% and a negative return on equity of 43.21%. The firm had revenue of $240.40 million for the quarter, compared to analysts’ expectations of $246.40 million. During the same period in the previous year, the company posted ($0.10) EPS. The company’s quarterly revenue was down 15.3% compared to the same quarter last year. Equities analysts predict that EarthLink Holdings Corp. will post $0.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 4th. Stockholders of record on Tuesday, September 20th will be issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 3.21%. The ex-dividend date is Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio is currently -181.82%.
Several research analysts recently weighed in on the company. B. Riley reaffirmed a “buy” rating and issued a $10.00 target price on shares of EarthLink Holdings Corp. in a research report on Thursday, August 4th. Zacks Investment Research lowered EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 20th. Mitsubishi UFJ Financial Group lowered EarthLink Holdings Corp. from a “neutral” rating to an “underweight” rating in a research report on Friday, June 10th. Finally, Barclays PLC raised their price objective on EarthLink Holdings Corp. to $18.00 and gave the company a “neutral” rating in a research report on Thursday, August 18th. One 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 an average rating of “Hold” and an average target price of $10.44.
In other news, EVP Rick C. Froehlich sold 31,499 shares of the business’s stock in a transaction on 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 SEC, which can be accessed through this link. Insiders own 1.70% of the company’s stock.
About EarthLink Holdings Corp.
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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