Russell Investments Group Ltd. reduced its stake in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 8.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 61,984 shares of the information services provider’s stock after selling 5,600 shares during the period. Russell Investments Group Ltd. owned 0.06% of Limelight Networks worth $159,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in LLNW. State Street Corp boosted its position in shares of Limelight Networks by 4.6% in the fourth quarter. State Street Corp now owns 1,125,653 shares of the information services provider’s stock valued at $2,838,000 after buying an additional 49,423 shares during the last quarter. Renaissance Technologies LLC boosted its position in shares of 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 last quarter. 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 valued at $9,096,000 after buying an additional 50,127 shares during the last quarter. Nationwide Fund Advisors boosted its position in shares of Limelight Networks by 109.0% in the first quarter. Nationwide Fund Advisors now owns 349,454 shares of the information services provider’s stock valued at $902,000 after buying an additional 182,255 shares during the last quarter. Finally, Strs Ohio boosted its position in shares of Limelight Networks by 58.4% in the first quarter. Strs Ohio now owns 68,100 shares of the information services provider’s stock valued at $175,000 after buying an additional 25,100 shares during the last quarter. Institutional investors and hedge funds own 68.88% of the company’s stock.
Limelight Networks, Inc. (LLNW) opened at 3.14 on Friday. The firm’s 50-day moving average price is $2.99 and its 200 day moving average price is $2.60. The firm’s market cap is $339.05 million. Limelight Networks, Inc. has a 52-week low of $1.38 and a 52-week high of $3.51.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Monday, April 24th. The information services provider reported $0.02 EPS for the quarter. The company had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $43.01 million. Limelight Networks had a negative net margin of 39.80% and a negative return on equity of 6.69%. Limelight Networks’s revenue was up 8.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.01) EPS. On average, equities research analysts forecast that Limelight Networks, Inc. will post $0.05 EPS for the current year.
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Several equities analysts have recently issued reports on LLNW shares. DA Davidson reiterated a “buy” rating on shares of Limelight Networks in a research note on Monday, April 3rd. Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 target price for the company in a research note 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 research note on Wednesday, April 26th. Finally, B. Riley restated a “buy” rating and set a $4.00 target price on shares of Limelight Networks in a research note on Sunday, April 30th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $3.38.
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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