GSA Capital Partners LLP lessened its position in Limelight Networks, Inc. (NASDAQ:LLNW) by 45.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 129,143 shares of the information services provider’s stock after selling 107,955 shares during the period. GSA Capital Partners LLP owned 0.12% of Limelight Networks worth $531,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Renaissance Technologies LLC grew its holdings in Limelight Networks by 18.5% in the 4th quarter. Renaissance Technologies LLC now owns 2,970,655 shares of the information services provider’s stock worth $13,101,000 after acquiring an additional 462,800 shares during the last quarter. BlackRock Inc. grew its holdings in Limelight Networks by 1.3% in the 4th quarter. BlackRock Inc. now owns 6,934,194 shares of the information services provider’s stock worth $30,580,000 after acquiring an additional 88,510 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Limelight Networks by 73.3% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 957,177 shares of the information services provider’s stock worth $4,221,000 after acquiring an additional 404,942 shares during the last quarter. Swiss National Bank bought a new stake in Limelight Networks in the 4th quarter worth $709,000. Finally, Nicholas Investment Partners LP bought a new stake in Limelight Networks in the 4th quarter worth $1,834,000. 70.57% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director David Peterschmidt sold 21,771 shares of the firm’s stock in a transaction dated Monday, June 11th. The shares were sold at an average price of $5.05, for a total value of $109,943.55. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction dated Monday, April 2nd. The stock was sold at an average price of $4.21, for a total transaction of $168,400.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 468,076 shares of company stock valued at $2,369,181. Corporate insiders own 10.60% of the company’s stock.
NASDAQ:LLNW opened at $5.01 on Friday. Limelight Networks, Inc. has a 12 month low of $2.73 and a 12 month high of $6.05. The stock has a market capitalization of $566.56 million, a PE ratio of -250.50, a P/E/G ratio of 64.00 and a beta of 2.33.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Thursday, April 19th. The information services provider reported $0.06 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.04. Limelight Networks had a negative net margin of 2.16% and a positive return on equity of 1.50%. The firm had revenue of $52.11 million during the quarter, compared to analysts’ expectations of $48.17 million. During the same period last year, the company posted $0.02 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. research analysts predict that Limelight Networks, Inc. will post 0.04 earnings per share for the current year.
A number of equities research analysts have issued reports on LLNW shares. ValuEngine lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, April 17th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “strong-buy” rating and set a $4.50 price target on the stock in a report on Friday, April 6th. BidaskClub lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. Finally, Oppenheimer started coverage on shares of Limelight Networks in a report on Monday, April 16th. They issued an “outperform” rating and a $6.00 price target on the stock. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $5.85.
Limelight Networks Company Profile
Limelight Networks, Inc provides content delivery and related services and solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers services and solutions for businesses to deliver their digital content across Internet, mobile, and social channels. It provides Orchestrate Platform, a suite of integrated services comprising content delivery, video content management, Website and Web application acceleration, Website and content security, and cloud storage services.
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