Russell Investments Group Ltd. reduced its position in shares of Limelight Networks, Inc. (NASDAQ:LLNW) by 25.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,445,290 shares of the information services provider’s stock after selling 492,405 shares during the period. Russell Investments Group Ltd. owned 1.24% of Limelight Networks worth $3,902,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in LLNW. Meitav Dash Investments Ltd. purchased a new position in Limelight Networks in the first quarter valued at approximately $44,000. Cibc Bank USA purchased a new stake in shares of Limelight Networks during the second quarter valued at approximately $54,000. SG Americas Securities LLC purchased a new stake in shares of Limelight Networks during the first quarter valued at approximately $66,000. GSA Capital Partners LLP purchased a new stake in shares of Limelight Networks during the second quarter valued at approximately $73,000. Finally, BNP Paribas Arbitrage SA raised its stake in shares of Limelight Networks by 12,438.3% during the first quarter. BNP Paribas Arbitrage SA now owns 22,945 shares of the information services provider’s stock valued at $74,000 after purchasing an additional 22,762 shares during the period. 76.19% of the stock is currently owned by institutional investors.

In related news, CFO Sajid Malhotra purchased 20,000 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was acquired at an average price of $2.28 per share, with a total value of $45,600.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Thomas Marth purchased 21,550 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were bought at an average cost of $2.32 per share, with a total value of $49,996.00. The disclosure for this purchase can be found here. 10.40% of the stock is currently owned by company insiders.

Shares of LLNW traded down $0.01 during mid-day trading on Monday, reaching $3.18. 20,618 shares of the stock traded hands, compared to its average volume of 727,991. The firm has a market cap of $383.46 million, a price-to-earnings ratio of -159.50 and a beta of 2.12. The stock has a fifty day simple moving average of $2.51 and a 200 day simple moving average of $2.81. Limelight Networks, Inc. has a 12-month low of $2.20 and a 12-month high of $5.32. The company has a quick ratio of 2.10, a current ratio of 2.10 and a debt-to-equity ratio of 0.01.

Limelight Networks (NASDAQ:LLNW) last released its quarterly earnings results on Wednesday, July 17th. The information services provider reported ($0.06) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.02). Limelight Networks had a negative return on equity of 13.07% and a negative net margin of 11.63%. The company had revenue of $45.90 million for the quarter, compared to analyst estimates of $46.40 million. During the same period in the previous year, the business posted $0.04 EPS. The firm’s quarterly revenue was down 8.6% compared to the same quarter last year. On average, equities research analysts expect that Limelight Networks, Inc. will post -0.13 earnings per share for the current fiscal year.

A number of research firms have recently issued reports on LLNW. BidaskClub upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Friday. Zacks Investment Research lowered shares of Limelight Networks from a “hold” rating to a “sell” rating in a research note on Friday, July 19th. ValuEngine upgraded shares of Limelight Networks from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. DA Davidson reiterated a “neutral” rating and set a $2.70 price objective on shares of Limelight Networks in a research note on Tuesday, July 2nd. Finally, B. Riley reiterated a “buy” rating and set a $5.00 price objective on shares of Limelight Networks in a research note on Monday, July 15th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $3.85.

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, social, and other digital initiatives.

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

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