Connor Clark & Lunn Investment Management Ltd. raised its stake in Limelight Networks, Inc. (NASDAQ:LLNW) by 106.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 203,142 shares of the information services provider’s stock after buying an additional 104,875 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.18% of Limelight Networks worth $908,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. The Manufacturers Life Insurance Company increased its holdings in 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 buying an additional 11,383 shares in the last quarter. California State Teachers Retirement System increased its holdings in Limelight Networks by 17.7% in the first quarter. California State Teachers Retirement System now owns 139,696 shares of the information services provider’s stock valued at $574,000 after buying an additional 21,053 shares in the last quarter. Swiss National Bank increased its holdings in Limelight Networks by 15.3% in the first quarter. Swiss National Bank now owns 185,400 shares of the information services provider’s stock valued at $762,000 after buying an additional 24,600 shares in the last quarter. MetLife Investment Advisors LLC increased its holdings in 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 buying an additional 27,754 shares in the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in Limelight Networks in the second quarter valued at about $125,000. 68.71% of the stock is owned by institutional investors.

In other news, Director David Peterschmidt sold 21,771 shares of the firm’s stock in a transaction that occurred on Monday, June 11th. The shares were sold at an average price of $5.05, for a total transaction of $109,943.55. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Robert A. Lento sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 2nd. The stock was sold at an average price of $4.46, for a total transaction of $178,400.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 140,371 shares of company stock valued at $654,155. Corporate insiders own 10.60% of the company’s stock.

LLNW has been the subject of a number of research analyst reports. Cowen reaffirmed a “buy” rating and issued a $6.50 target price on shares of Limelight Networks in a report on Friday, July 20th. Zacks Investment Research raised shares of Limelight Networks from a “hold” rating to a “strong-buy” rating and set a $5.75 target price for the company in a report on Wednesday, June 20th. ValuEngine cut shares of Limelight Networks from a “strong-buy” rating to a “buy” rating in a report on Friday, June 1st. DA Davidson reaffirmed a “buy” rating on shares of Limelight Networks in a report on Monday, July 16th. Finally, BidaskClub cut shares of Limelight Networks from a “hold” rating to a “sell” rating in a report on Tuesday, June 12th. Two research analysts have rated the stock with a sell rating and five have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $5.95.

Shares of LLNW opened at $3.95 on Friday. Limelight Networks, Inc. has a 1-year low of $3.46 and a 1-year high of $6.05. The company has a market cap of $469.72 million, a PE ratio of -198.25, a price-to-earnings-growth ratio of 10.11 and a beta of 2.32.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Thursday, July 19th. The information services provider reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.01. Limelight Networks had a net margin of 6.43% and a return on equity of 1.99%. The business had revenue of $50.25 million during the quarter, compared to analysts’ expectations of $49.64 million. During the same period last year, the company posted $0.03 EPS. The company’s revenue was up 10.8% on a year-over-year basis. research analysts predict that Limelight Networks, Inc. will post 0.03 earnings per share for the current year.

Limelight Networks 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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Institutional Ownership by Quarter for Limelight Networks (NASDAQ:LLNW)

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