Quaker Capital Investments LLC continued to hold its position in Limelight Networks, Inc. (NASDAQ:LLNW) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,489,127 shares of the information services provider’s stock at the end of the first quarter. Limelight Networks makes up about 2.8% of Quaker Capital Investments LLC’s portfolio, making the stock its 10th largest position. Quaker Capital Investments LLC owned about 3.23% of Limelight Networks worth $9,002,000 at the end of the most recent reporting period.
Several other institutional investors have also bought and sold shares of LLNW. State Street Corp raised its stake 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 in the last quarter. ClariVest Asset Management LLC increased its position in shares of Limelight Networks by 2.1% in the first quarter. ClariVest Asset Management LLC now owns 324,990 shares of the information services provider’s stock valued at $839,000 after buying an additional 6,727 shares in the last quarter. Renaissance Technologies LLC increased 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 in the last quarter. Dimensional Fund Advisors LP increased its stake 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. Finally, Cortina Asset Management LLC increased its stake in shares of Limelight Networks by 25.0% in the first quarter. Cortina Asset Management LLC now owns 3,550,985 shares of the information services provider’s stock worth $9,162,000 after buying an additional 710,677 shares during the period. Hedge funds and other institutional investors own 68.88% of the company’s stock.
Shares of Limelight Networks, Inc. (NASDAQ:LLNW) traded down 2.12% during trading on Tuesday, reaching $2.77. The company had a trading volume of 115,887 shares. The company’s market capitalization is $299.10 million. Limelight Networks, Inc. has a 52 week low of $1.29 and a 52 week high of $3.51. The stock’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 quarterly earnings results on Monday, April 24th. The information services provider reported $0.02 EPS for the quarter. The business had revenue of $44.70 million for the quarter, compared to analysts’ expectations of $43.01 million. Limelight Networks had a negative return on equity of 6.69% and a negative net margin of 39.80%. The business’s quarterly revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.01) EPS. On average, equities analysts expect that Limelight Networks, Inc. will post $0.05 EPS for the current fiscal year.
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A number of brokerages have commented on LLNW. B. Riley reaffirmed a “buy” rating and issued a $3.70 price target on shares of Limelight Networks in a research note on Wednesday, March 22nd. DA Davidson restated a “buy” rating on shares of Limelight Networks in a research report on Monday, April 3rd. Cowen and Company restated a “buy” rating and set a $3.00 price target on shares of Limelight Networks in a research report on Wednesday, April 5th. Finally, Zacks Investment Research upgraded Limelight Networks from a “hold” rating to a “buy” rating and set a $3.50 price target for the company in a research note on Friday, April 28th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target 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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