Spark Investment Management LLC reduced its position in Limelight Networks, Inc. (NASDAQ:LLNW) by 47.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 217,100 shares of the information services provider’s stock after selling 194,100 shares during the period. Spark Investment Management LLC owned about 0.20% of Limelight Networks worth $560,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in LLNW. Dimensional Fund Advisors LP boosted its position in shares of Limelight Networks by 1.4% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,609,427 shares of the information services provider’s stock worth $9,096,000 after buying an additional 50,127 shares during the period. Cortina Asset Management LLC boosted its position in Limelight Networks by 78.3% in the fourth quarter. Cortina Asset Management LLC now owns 2,840,308 shares of the information services provider’s stock valued at $7,158,000 after buying an additional 1,247,346 shares during the period. Hood River Capital Management LLC acquired a new position in Limelight Networks during the first quarter valued at about $6,907,000. Renaissance Technologies LLC boosted its position in Limelight Networks by 3.5% in the fourth quarter. Renaissance Technologies LLC now owns 2,353,086 shares of the information services provider’s stock valued at $5,930,000 after buying an additional 78,631 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Limelight Networks by 1,161.5% in the first quarter. JPMorgan Chase & Co. now owns 1,731,810 shares of the information services provider’s stock valued at $4,468,000 after buying an additional 1,594,523 shares during the period. 68.88% of the stock is currently owned by institutional investors and hedge funds.
Shares of Limelight Networks, Inc. (NASDAQ:LLNW) traded down 3.18% during mid-day trading on Tuesday, reaching $2.74. The company’s stock had a trading volume of 60,501 shares. The firm’s market cap is $295.86 million. Limelight Networks, Inc. has a 12-month low of $1.29 and a 12-month high of $3.51. The firm’s 50-day moving average price is $3.06 and its 200 day moving average price is $2.57.
Limelight Networks (NASDAQ:LLNW) last announced its earnings results on Monday, April 24th. The information services provider reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $44.70 million for the quarter, compared to analyst estimates of $43.01 million. Limelight Networks had a negative return on equity of 6.69% and a negative net margin of 39.80%. The firm’s quarterly revenue was up 8.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.01) earnings per share. On average, analysts expect that Limelight Networks, Inc. will post $0.05 EPS for the current year.
Several equities research analysts recently weighed in on LLNW shares. DA Davidson restated a “buy” rating on shares of Limelight Networks in a research report on Monday, April 3rd. Zacks Investment Research raised Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 target price on the stock in a report on Friday, April 28th. Cowen and Company boosted their target price on Limelight Networks from $3.00 to $3.50 and gave the stock an “outperform” rating in a report on Wednesday, April 26th. Finally, B. Riley restated a “buy” rating and issued a $4.00 price target on shares of Limelight Networks in a research note on Sunday, April 30th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $3.38.
About Limelight Networks
Limelight Networks, Inc operates a distributed network and provides a suite of integrated services marketed as the Limelight Orchestrate Platform. The Company is engaged in providing content delivery and related services and solutions for global businesses to help them deliver their digital content across Internet, mobile, and social channels.
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