ClariVest Asset Management LLC Raises Position in Limelight Networks Inc. (LLNW)
ClariVest Asset Management LLC increased its position in Limelight Networks Inc. (NASDAQ:LLNW) by 3.9% during the second quarter, Holdings Channel reports. The institutional investor owned 304,781 shares of the company’s stock after buying an additional 11,500 shares during the period. ClariVest Asset Management LLC’s holdings in Limelight Networks were worth $453,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently bought and sold shares of LLNW. Spark Investment Management LLC increased its position in Limelight Networks by 22.9% in the first quarter. Spark Investment Management LLC now owns 544,900 shares of the company’s stock worth $986,000 after buying an additional 101,600 shares in the last quarter. State Street Corp increased its position in Limelight Networks by 10.9% in the first quarter. State Street Corp now owns 1,060,478 shares of the company’s stock worth $1,921,000 after buying an additional 104,480 shares in the last quarter. Finally, Quaker Capital Investments LLC increased its position in Limelight Networks by 31.7% in the first quarter. Quaker Capital Investments LLC now owns 2,441,063 shares of the company’s stock worth $4,418,000 after buying an additional 587,140 shares in the last quarter. 66.34% of the stock is currently owned by institutional investors.
Shares of Limelight Networks Inc. (NASDAQ:LLNW) traded up 1.66% during trading on Friday, hitting $1.84. 76,143 shares of the stock were exchanged. The stock’s 50 day moving average is $1.75 and its 200-day moving average is $1.62. The stock’s market cap is $192.60 million. Limelight Networks Inc. has a 12-month low of $0.90 and a 12-month high of $2.22.
Limelight Networks (NASDAQ:LLNW) last released its earnings results on Wednesday, July 27th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.02. The business had revenue of $43.56 million for the quarter, compared to the consensus estimate of $43.84 million. Limelight Networks had a negative net margin of 42.85% and a negative return on equity of 9.88%. The firm’s quarterly revenue was down .5% compared to the same quarter last year. During the same period last year, the firm posted ($0.04) earnings per share. Equities research analysts anticipate that Limelight Networks Inc. will post $0.01 EPS for the current year.
A number of equities analysts have weighed in on the stock. B. Riley reaffirmed a “buy” rating and set a $3.70 price target on shares of Limelight Networks in a research note on Tuesday, July 5th. FBR & Co raised their target price on shares of Limelight Networks from $1.50 to $2.50 and gave the company a “market perform” rating in a research note on Thursday, September 1st. Finally, Zacks Investment Research downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $2.99.
About Limelight Networks
Limelight Networks, Inc provides content delivery network services to deliver content over Internet. The Company operates a globally distributed, computing platform and provides services under the Orchestrate Platform, which include content delivery, video content management, Website and Web application acceleration, Website and content security and cloud storage services.
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