Insider Selling: Lionbridge Technologies major shareholder Sells 384,342 Shares of Stock (LIOX)
Lionbridge Technologies (NASDAQ:LIOX) major shareholder Glenhill Advisors Llc sold 384,342 shares of the company’s stock on the open market in a transaction that occurred on Friday, June 27th. The stock was sold at an average price of $6.01, for a total value of $2,309,895.42. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.
A number of research firms have recently commented on LIOX. Analysts at Zacks upgraded shares of Lionbridge Technologies from a “neutral” rating to an “outperform” rating in a research note on Wednesday, June 25th. They now have a $6.40 price target on the stock. Separately, analysts at Feltl & Co. upgraded shares of Lionbridge Technologies from a “buy” rating to a “strong-buy” rating in a research note on Friday, May 9th. They now have a $8.00 price target on the stock. Finally, analysts at B. Riley upgraded shares of Lionbridge Technologies from a “neutral” rating to a “buy” rating in a research note on Friday, May 9th. They now have a $6.50 price target on the stock.
Shares of Lionbridge Technologies (NASDAQ:LIOX) traded up 0.84% during mid-day trading on Tuesday, hitting $5.99. 694,883 shares of the company’s stock traded hands. Lionbridge Technologies has a one year low of $2.93 and a one year high of $7.50. The stock has a 50-day moving average of $5.73 and a 200-day moving average of $6.12. The company has a market cap of $360.6 million and a price-to-earnings ratio of 22.33. Lionbridge Technologies also was the recipient of a significant decline in short interest in June. As of June 13th, there was short interest totalling 1,197,079 shares, a decline of 30.1% from the May 30th total of 1,712,056 shares. Based on an average daily trading volume, of 313,749 shares, the short-interest ratio is presently 3.8 days. Approximately 2.0% of the company’s shares are sold short.
Lionbridge Technologies (NASDAQ:LIOX) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.08 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.05 by $0.03. The company had revenue of $120.72 million for the quarter, compared to the consensus estimate of $121.72 million. Lionbridge Technologies’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict that Lionbridge Technologies will post $0.27 earnings per share for the current fiscal year.
Lionbridge Technologies, Inc (NASDAQ:LIOX) is a provider of language, content and testing solutions that enable clients to optimize, release, manage, test and maintain their technology applications and content in global markets.
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