JPMorgan Chase & Co. trimmed its holdings in Limelight Networks, Inc. (NASDAQ:LLNW) by 2.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,688,486 shares of the information services provider’s stock after selling 43,324 shares during the quarter. JPMorgan Chase & Co. owned about 1.55% of Limelight Networks worth $4,879,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. American International Group Inc. lifted its stake in Limelight Networks by 7.1% in the 1st quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock worth $113,000 after purchasing an additional 2,913 shares in the last quarter. Strs Ohio lifted its stake in Limelight Networks by 58.4% in the 1st quarter. Strs Ohio now owns 68,100 shares of the information services provider’s stock worth $175,000 after purchasing an additional 25,100 shares in the last quarter. SG Americas Securities LLC purchased a new position in Limelight Networks in the 1st quarter worth approximately $214,000. Ironwood Investment Management LLC lifted its stake in Limelight Networks by 1.4% in the 1st quarter. Ironwood Investment Management LLC now owns 88,329 shares of the information services provider’s stock worth $228,000 after purchasing an additional 1,209 shares in the last quarter. Finally, Teachers Advisors LLC lifted its stake in Limelight Networks by 7.2% in the 4th quarter. Teachers Advisors LLC now owns 160,939 shares of the information services provider’s stock worth $406,000 after purchasing an additional 10,823 shares in the last quarter. 68.99% of the stock is currently owned by institutional investors and hedge funds.
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Shares of Limelight Networks, Inc. (NASDAQ LLNW) opened at 4.24 on Friday. The stock’s market cap is $463.21 million. The stock’s 50 day moving average is $3.77 and its 200 day moving average is $3.20. Limelight Networks, Inc. has a 52-week low of $1.45 and a 52-week high of $4.40.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings data on Wednesday, July 26th. The information services provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.01 by $0.02. The business had revenue of $45.37 million for the quarter, compared to the consensus estimate of $45.25 million. Limelight Networks had a negative net margin of 8.65% and a negative return on equity of 5.03%. The company’s quarterly revenue was up 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.01 earnings per share. On average, equities analysts expect that Limelight Networks, Inc. will post $0.06 earnings per share for the current fiscal year.
A number of research firms have weighed in on LLNW. B. Riley reissued a “buy” rating and issued a $4.30 target price on shares of Limelight Networks in a research note on Tuesday, August 1st. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Finally, TheStreet raised shares of Limelight Networks from a “d+” rating to a “c” rating in a research note on Thursday, July 27th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Limelight Networks presently has an average rating of “Buy” and a consensus price target of $3.64.
Limelight Networks Company Profile
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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