Today, Algert Global LLC Buys 12,492 Shares of EarthLink Holdings Corp. (ELNK)

Today, Algert Global LLC Buys 12,492 Shares of EarthLink Holdings Corp. (ELNK)
Algert Global LLC raised its stake in EarthLink Holdings Corp. (NASDAQ:ELNK) by 34.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 49,260 shares of the company’s stock after buying an additional 12,492 shares during the period. Algert Global LLC’s holdings in EarthLink Holdings Corp. were worth $305,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Bank of New York Mellon Corp increased its position in 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 valued at $4,714,000 after buying an additional 29,621 shares during the last quarter. BlackRock Group LTD increased 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 valued at $832,000 after buying an additional 13,066 shares during the last quarter. Fox Run Management L.L.C. acquired a new position in EarthLink Holdings Corp. during the second quarter valued at $125,000. 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. 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. Hedge funds and other institutional investors own 89.66% of the company’s stock.

Shares of EarthLink Holdings Corp. (NASDAQ:ELNK) traded up 2.14% during midday trading on Friday, reaching $5.72. 266,272 shares of the company’s stock traded hands. The firm’s market capitalization is $603.40 million. The stock’s 50-day moving average price is $5.71 and its 200 day moving average price is $6.25. EarthLink Holdings Corp. has a one year low of $4.85 and a one year high of $9.26.

EarthLink Holdings Corp. (NASDAQ:ELNK) last posted its earnings results on Monday, November 7th. The company reported ($0.10) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.01) by $0.09. The company had revenue of $235.10 million for the quarter, compared to the consensus estimate of $232.44 million. EarthLink Holdings Corp. had a negative net margin of 0.01% and a negative return on equity of 14.46%. The business’s quarterly revenue was down 13.2% on a year-over-year basis. On average, equities research analysts expect that EarthLink Holdings Corp. will post $0.08 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 4th. Stockholders of record on Wednesday, December 21st will be paid a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 3.50%. The ex-dividend date is Monday, December 19th. EarthLink Holdings Corp.’s dividend payout ratio (DPR) is presently -2,000.00%.

Several equities analysts recently commented on ELNK shares. Zacks Investment Research cut shares of EarthLink Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 28th. Cowen and Company started coverage on shares of EarthLink Holdings Corp. in a research note on Monday, October 17th. They set an “outperform” rating and a $8.00 price objective for the company. Barclays PLC boosted their price objective on shares of EarthLink Holdings Corp. to $18.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. Drexel Hamilton cut shares of EarthLink Holdings Corp. from a “buy” rating to a “hold” rating in a research note on Tuesday, November 8th. Finally, Jefferies Group reaffirmed a “hold” rating and set a $4.90 price objective (down previously from $6.50) on shares of EarthLink Holdings Corp. in a research note on Thursday, November 10th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.53.

In other news, EVP Rick C. Froehlich sold 31,499 shares of the stock in a transaction that occurred on Monday, September 12th. The shares were sold at an average price of $6.33, for a total value of $199,388.67. The sale 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 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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