Capital Fund Management S.A. decreased its stake in EarthLink Holdings Corp. (NASDAQ:ELNK) by 74.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,779 shares of the company’s stock after selling 159,413 shares during the period. Capital Fund Management S.A.’s holdings in EarthLink Holdings Corp. were worth $344,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Renaissance Technologies LLC increased 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 valued at $46,342,000 after buying an additional 158,700 shares during the last quarter. Royce & Associates LP increased its position in EarthLink Holdings Corp. by 3.4% in the first quarter. Royce & Associates LP now owns 3,168,130 shares of the company’s stock valued at $17,963,000 after buying an additional 105,500 shares during the last quarter. Panagora Asset Management Inc. increased 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 valued at $6,378,000 after buying an additional 282,565 shares during the last quarter. American Century Companies Inc. increased its position in EarthLink Holdings Corp. by 15.4% in the second quarter. American Century Companies Inc. now owns 864,548 shares of the company’s stock valued at $5,533,000 after buying an additional 115,595 shares during the last quarter. Finally, Smith Asset Management Group LP increased 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 valued at $2,928,000 after buying an additional 54,860 shares during the last quarter. 89.02% of the stock is currently owned by institutional investors and hedge funds.
Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) traded up 0.34% during mid-day trading on Friday, hitting $5.98. 264,136 shares of the stock traded hands. 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 $630.85 million. The company’s 50-day moving average price is $6.25 and its 200 day moving average price is $6.28.
EarthLink Holdings Corp. (NASDAQ:ELNK) last released its quarterly earnings results on Monday, August 8th. The company reported $0.04 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.01. The business had revenue of $240.40 million for 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%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.10) earnings per share. Equities research analysts forecast that EarthLink Holdings Corp. will post $0.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 4th. Investors of record on Tuesday, September 20th were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 3.34%. The ex-dividend date was Friday, September 16th. EarthLink Holdings Corp.’s dividend payout ratio (DPR) is currently -181.82%.
Several research analysts have weighed in on the stock. B. Riley restated a “buy” rating and set a $10.00 price objective on shares of EarthLink Holdings Corp. in a report on Tuesday, August 9th. Zacks Investment Research downgraded shares of EarthLink Holdings Corp. from a “strong-buy” rating to a “hold” rating in a report on Monday, June 20th. Finally, Barclays PLC upped their price objective on shares of EarthLink Holdings Corp. to $18.00 and gave the stock a “neutral” rating in a 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. EarthLink Holdings Corp. presently has a consensus rating of “Hold” and an average target price of $10.44.
In related news, EVP Rick C. Froehlich sold 31,499 shares of EarthLink Holdings Corp. stock in a transaction on Monday, September 12th. The shares were sold at an average price of $6.33, for a total value of $199,388.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 1.70% of the stock is currently owned by corporate insiders.
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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