Dimensional Fund Advisors LP Raises Stake in Limelight Networks, Inc. (LLNW)
Dimensional Fund Advisors LP lifted its holdings in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 7.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,311,687 shares of the information services provider’s stock after purchasing an additional 305,571 shares during the quarter. Dimensional Fund Advisors LP owned about 3.81% of Limelight Networks worth $21,646,000 as of its most recent filing with the SEC.
A number of other large investors have also recently modified their holdings of LLNW. MML Investors Services LLC bought a new stake in Limelight Networks during the third quarter worth $106,000. Macquarie Group Ltd. bought a new position in shares of Limelight Networks during the 2nd quarter worth about $139,000. NJ State Employees Deferred Compensation Plan bought a new position in shares of Limelight Networks during the 3rd quarter worth about $251,000. Russell Investments Group Ltd. bought a new position in Limelight Networks in the 2nd quarter valued at about $261,000. Finally, PEAK6 Investments L.P. lifted its position in Limelight Networks by 371.6% in the 2nd quarter. PEAK6 Investments L.P. now owns 68,813 shares of the information services provider’s stock valued at $308,000 after acquiring an additional 54,222 shares in the last quarter. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts have recently issued reports on the stock. BidaskClub lowered shares of Limelight Networks from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 13th. ValuEngine lowered shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, November 6th. TheStreet lowered shares of Limelight Networks from a “b-” rating to a “c+” rating in a research note on Tuesday, October 30th. Finally, DA Davidson set a $7.00 price objective on shares of Limelight Networks and gave the company a “buy” rating in a research note on Monday, October 8th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and five have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $6.21.
Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Thursday, October 18th. The information services provider reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. The firm had revenue of $49.32 million during the quarter, compared to analyst estimates of $49.01 million. Limelight Networks had a net margin of 7.07% and a return on equity of 2.32%. The business’s revenue for the quarter was up 7.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.02 EPS. As a group, equities analysts predict that Limelight Networks, Inc. will post -0.01 earnings per share for the current fiscal year.
In other news, CEO Robert A. Lento sold 40,000 shares of the business’s stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $4.02, for a total transaction of $160,800.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 10.60% of the stock is owned by insiders.
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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