Harvey Partners LLC reduced its position in Limelight Networks, Inc. (NASDAQ:LLNW) by 42.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 410,000 shares of the information services provider’s stock after selling 300,000 shares during the period. Limelight Networks accounts for approximately 1.9% of Harvey Partners LLC’s portfolio, making the stock its 19th largest holding. Harvey Partners LLC owned approximately 0.37% of Limelight Networks worth $1,628,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. American International Group Inc. raised 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 valued at $113,000 after acquiring an additional 2,913 shares during the period. The Manufacturers Life Insurance Company raised its stake in Limelight Networks by 4.8% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 66,823 shares of the information services provider’s stock valued at $193,000 after acquiring an additional 3,090 shares during the period. Acadian Asset Management LLC raised its stake in Limelight Networks by 3.0% in the 2nd quarter. Acadian Asset Management LLC now owns 179,959 shares of the information services provider’s stock valued at $520,000 after acquiring an additional 5,269 shares during the period. Dorsey & Whitney Trust CO LLC raised its stake in Limelight Networks by 26.8% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 48,570 shares of the information services provider’s stock valued at $140,000 after acquiring an additional 10,270 shares during the period. Finally, Bank of New York Mellon Corp raised its stake in Limelight Networks by 3.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 289,101 shares of the information services provider’s stock valued at $1,148,000 after acquiring an additional 10,368 shares during the period. Institutional investors and hedge funds own 70.27% of the company’s stock.
Shares of Limelight Networks, Inc. (LLNW) opened at $4.81 on Friday. Limelight Networks, Inc. has a 52-week low of $2.02 and a 52-week high of $6.05.
Limelight Networks (NASDAQ:LLNW) last announced its quarterly earnings results on Wednesday, October 18th. The information services provider reported $0.02 earnings per share for the quarter. Limelight Networks had a negative return on equity of 3.29% and a negative net margin of 5.91%. The firm had revenue of $46.07 million for the quarter, compared to analysts’ expectations of $43.09 million. The firm’s quarterly revenue was up 16.7% on a year-over-year basis. equities research analysts forecast that Limelight Networks, Inc. will post -0.04 EPS for the current year.
A number of equities research analysts recently issued reports on the company. B. Riley restated a “buy” rating and issued a $6.00 price objective on shares of Limelight Networks in a research note on Monday. Zacks Investment Research cut Limelight Networks from a “buy” rating to a “hold” rating in a research note on Friday, September 29th. Cowen reiterated an “outperform” rating and set a $6.00 price target (up from $4.00) on shares of Limelight Networks in a research report on Thursday, October 19th. Finally, DA Davidson set a $5.50 price target on Limelight Networks and gave the company a “buy” rating in a research report on Monday, October 16th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $5.00.
In other news, Director Mark J. Midle sold 15,000,000 shares of the company’s stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $4.35, for a total transaction of $65,250,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 37.60% of the company’s stock.
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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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