Glenhill Advisors Reduces Stake in Lionbridge Technologies Inc. (LIOX) by Selling 384,342 Shares

Glenhill Advisors, managed by Glenn J. Krevlin, has reduced its stake in Lionbridge Technologies Inc. (NASDAQ:LIOX). In a new filing with the U.S. Securities and Exchange Commission, Glenhill Advisors disclosed that it has sold 384,342 shares in a transaction last month at an average price of $6 apiece. Still, Glenhill Advisors holds 7.55 million shares of common stock of Lionbridge Technologies. The stake represents a decrease from 9.48 million shares the fund reported in its latest 13F filing.

Lionbridge Technologies, Inc. (NASDAQ:LIOX)

Lionbridge Technologies Inc. (NASDAQ:LIOX) provides translation, online marketing, global content management and application testing solutions, and has a market cap of $390.7 million. For the first quarter of 2014, the company reported a year-on-year increase of $6.5 million in revenue to $120.2 million, compared to $113.7 million in the same quarter of 2013. It also posted a $4.9 million increase in GAAP net income to $1.9 million, or $0.03 per share, compared to the first quarter of 2013, primarily due to strong year-on-year margin expansion in the company’s GLC segment.

Recently, Lionbridge Technologies Inc. (NASDAQ:LIOX) acquired Darwin Zone for a total estimated cash consideration of about $2.4 million. Darwin Zone is a full-service digital marketing services agency based in Costa Rica. Lionbridge believes that Darwin Zone’s 70 highly-skilled professionals in digital marketing campaign management, social media, search engine marketing and analytics, will enable it to add near-shore operations and expertise to support its growing digital marketing services offerings, according to a press release.

Other significant shareholders of Lionbridge Technologies Inc. (NASDAQ:LIOX) include Robert B. Gillam’s Mckinley Capital Management, which owns 980,860 shares and Jim Simons’ Renaissance Technologies, which holds 809,513 shares of the company.

Glenhill Advisors follows a long/short equity strategy, with a focus on small cap companies. As of the end of the first quarter of 2014, the value of the fund’s equity portfolio totaled $1.11 billion. Earlier, the fund disclosed increasing its position in Jamba Inc. (NASDAQ:JMBA) to 888,155 shares from 369,009 shares held earlier, the stake equals to 5.2% of the common stock.

Disclosure: none

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