Acadian Asset Management LLC increased its position in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 3.0% during the second quarter, Holdings Channel reports. The firm owned 179,959 shares of the information services provider’s stock after buying an additional 5,269 shares during the period. Acadian Asset Management LLC’s holdings in Limelight Networks were worth $520,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LLNW. American International Group Inc. increased its stake in shares of Limelight Networks by 7.1% in the first quarter. American International Group Inc. now owns 43,718 shares of the information services provider’s stock worth $113,000 after buying an additional 2,913 shares during the period. Russell Investments Group Ltd. bought a new stake in shares of Limelight Networks during the fourth quarter worth $173,000. Strs Ohio increased its stake in shares of Limelight Networks by 58.4% in the first quarter. Strs Ohio now owns 68,100 shares of the information services provider’s stock worth $175,000 after buying an additional 25,100 shares during the period. SG Americas Securities LLC bought a new stake in shares of Limelight Networks during the first quarter worth $214,000. Finally, Ironwood Investment Management LLC increased its stake in shares of Limelight Networks by 1.4% in the first quarter. Ironwood Investment Management LLC now owns 88,329 shares of the information services provider’s stock worth $228,000 after buying an additional 1,209 shares during the period. 68.18% of the stock is owned by hedge funds and other institutional investors.

Shares of Limelight Networks, Inc. (NASDAQ:LLNW) traded up 2.85% during mid-day trading on Friday, reaching $3.61. 370,948 shares of the company’s stock were exchanged. The stock’s market cap is $394.39 million. The stock’s 50-day moving average is $3.25 and its 200-day moving average is $2.79. Limelight Networks, Inc. has a 52-week low of $1.45 and a 52-week high of $3.78.

Limelight Networks (NASDAQ:LLNW) last issued its quarterly earnings data on Wednesday, July 26th. The information services provider reported $0.03 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.02. Limelight Networks had a negative return on equity of 5.03% and a negative net margin of 8.65%. The business had revenue of $45.37 million for the quarter, compared to analysts’ expectations of $45.25 million. During the same period last year, the business earned $0.01 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, equities analysts expect that Limelight Networks, Inc. will post $0.06 EPS for the current year.

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A number of analysts have weighed in on the stock. B. Riley reissued a “buy” rating and issued a $4.00 price target on shares of Limelight Networks in a report on Sunday, April 30th. Zacks Investment Research downgraded shares of Limelight Networks from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. TheStreet raised shares of Limelight Networks from a “d+” rating to a “c” rating in a report on Thursday, July 27th. BidaskClub raised shares of Limelight Networks from a “hold” rating to a “buy” rating in a report on Monday, July 24th. Finally, Cowen and Company set a $4.00 price target on shares of Limelight Networks and gave the company a “buy” rating in a report on Tuesday, April 25th. Two research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Limelight Networks has a consensus rating of “Buy” and an average target price of $3.45.

Limelight Networks Company Profile

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

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