Prelude Capital Management LLC Lowers Holdings in Edgio, Inc. (NASDAQ:EGIO)

Prelude Capital Management LLC lessened its holdings in Edgio, Inc. (NASDAQ:EGIOFree Report) by 39.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 325,232 shares of the company’s stock after selling 213,920 shares during the quarter. Prelude Capital Management LLC owned 0.15% of Edgio worth $257,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in EGIO. Price T Rowe Associates Inc. MD purchased a new stake in shares of Edgio during the 4th quarter worth $26,000. Mercer Global Advisors Inc. ADV purchased a new stake in shares of Edgio in the 4th quarter worth about $28,000. MetLife Investment Management LLC acquired a new stake in Edgio in the 4th quarter valued at about $28,000. Savant Capital LLC acquired a new stake in Edgio in the 4th quarter valued at about $31,000. Finally, Algert Global LLC purchased a new position in Edgio during the 4th quarter valued at about $33,000. Hedge funds and other institutional investors own 23.16% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Lake Street Capital cut their price objective on Edgio from $2.00 to $1.50 and set a “buy” rating for the company in a research report on Thursday, July 20th. DA Davidson restated a “neutral” rating and issued a $0.75 price objective on shares of Edgio in a research report on Wednesday, August 16th. Five research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $2.38.

Check Out Our Latest Analysis on Edgio

Edgio Stock Performance

NASDAQ EGIO opened at $0.85 on Tuesday. The business’s 50-day moving average price is $0.78 and its 200 day moving average price is $0.71. Edgio, Inc. has a twelve month low of $0.45 and a twelve month high of $3.17. The company has a market capitalization of $191.22 million, a PE ratio of -1.18 and a beta of 1.00. The company has a current ratio of 0.94, a quick ratio of 1.12 and a debt-to-equity ratio of 0.78.

Edgio (NASDAQ:EGIOGet Free Report) last posted its quarterly earnings results on Tuesday, August 15th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $101.95 million for the quarter. Edgio had a negative return on equity of 41.54% and a negative net margin of 37.36%. On average, research analysts predict that Edgio, Inc. will post -0.45 earnings per share for the current year.

Edgio Profile

(Free Report)

Edgio, Inc provides edge-enabled software solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company operates private global networks with distributed computing resources and extensive connectivity to last-mile broadband network providers; offers live and on-demand video delivery services; and provides platform, media, and application solutions.

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Institutional Ownership by Quarter for Edgio (NASDAQ:EGIO)

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