Russell Investments Group Ltd. purchased a new position in shares of Limelight Networks, Inc. (NASDAQ:LLNW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,507 shares of the information services provider’s stock, valued at approximately $261,000. Russell Investments Group Ltd. owned approximately 0.05% of Limelight Networks as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in LLNW. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Limelight Networks in the second quarter valued at $125,000. WINTON GROUP Ltd acquired a new stake in shares of Limelight Networks in the first quarter valued at $172,000. MetLife Investment Advisors LLC raised its stake in shares of Limelight Networks by 172.6% in the first quarter. MetLife Investment Advisors LLC now owns 43,835 shares of the information services provider’s stock valued at $180,000 after acquiring an additional 27,754 shares in the last quarter. Cim Investment Mangement Inc. acquired a new stake in shares of Limelight Networks in the second quarter valued at $182,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Limelight Networks by 18.9% in the first quarter. The Manufacturers Life Insurance Company now owns 71,533 shares of the information services provider’s stock valued at $294,000 after acquiring an additional 11,383 shares in the last quarter. Institutional investors own 72.84% of the company’s stock.
Several analysts have recently issued reports on the company. DA Davidson set a $7.00 price objective on Limelight Networks and gave the company a “buy” rating in a research note on Monday. BidaskClub upgraded Limelight Networks from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Craig Hallum assumed coverage on Limelight Networks in a research note on Monday, August 27th. They issued a “buy” rating and a $6.00 price objective on the stock. Zacks Investment Research cut Limelight Networks from a “hold” rating to a “sell” rating in a research note on Wednesday, July 25th. Finally, TheStreet upgraded Limelight Networks from a “c” rating to a “b-” rating in a research note on Thursday, July 19th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and six have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $6.21.
Limelight Networks (NASDAQ:LLNW) last posted its earnings results on Thursday, July 19th. The information services provider reported $0.04 EPS for the quarter, beating the consensus estimate of $0.03 by $0.01. The firm had revenue of $50.25 million for the quarter, compared to analyst estimates of $49.64 million. Limelight Networks had a return on equity of 1.99% and a net margin of 6.43%. Limelight Networks’s revenue for the quarter was up 10.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. Analysts anticipate that Limelight Networks, Inc. will post 0.03 EPS for the current year.
In related news, CEO Robert A. Lento sold 40,000 shares of the stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $4.42, for a total value of $176,800.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Kurt Silverman sold 7,500 shares of the stock in a transaction on Friday, July 20th. The shares were sold at an average price of $5.00, for a total value of $37,500.00. The disclosure for this sale can be found here. Insiders sold 162,400 shares of company stock worth $778,516 in the last three months. 10.60% of the stock is currently owned by corporate insiders.
About Limelight Networks
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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