Leon Cooperman and Glen Capital Partners Boost Stake in Lionbridge Technologies (LIOX)

Published on July 12, 2016 at 1:35 pm by Insider Monkey Staff in Hedge Funds,News

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Billionaire Leon Cooperman and Gregory Summe‘s Glen Capital Partners have stepped up their interest in Lionbridge Technologies Inc (NASDAQ:LIOX) as reported in a recently amended filing with the Securities and Exchange Commission. Together, they currently hold 5.12 million shares or 8.1% of the company’s common stock. Mr. Cooperman personally owns 1.27 million shares, having teamed up with Glen Capital back in November 2015 to go activist on Lionbridge. Glen Capital collectively owns 3.86 million shares of the company, up from 3.65 million owned on March 31. Mr. Cooperman indicated owning 713,469 shares of the company in a November 24, 2015 filing.

A provider of language, content, and testing solutions, Lionbridge Technologies Inc (NASDAQ:LIOX) has a market cap of $270 million and does not pay a dividend. The stock is currently trading at a Price-to-Earnings (P/E) ratio of 24, lower than the industry average of 37, according to data provided by Yahoo! Finance. So far this year, the stock has been wobbling around between the $4 and $5 levels, and is currently down by roughly 5% for the year. Lionbridge is scheduled to release its second quarter results on August 3, before the market open, with analysts eyeing revenue of $146 million and earnings of $0.17 per share.

At the end of the first quarter, approximately 24% of Lionbridge Technologies Inc (NASDAQ:LIOX)’s common stock was held by 16 of the hedge funds followed by Insider Monkey. Glenn J. Krevlin‘s Glenhill Advisors held the largest stake among the funds in our database, having indicated ownership of 8.47 million shares in its latest 13F filing. Jim Simons’ Renaissance Technologies was also heavily invested, having boosted its stake by 9% to 583,600 Lionbridge shares.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name	Sole Voting Power	Shared Voting Power	Sole Dispositive Power	Shared Dispositive Power	Aggregate Amount Owned Power	Percent of Class
LEON G. COOPERMAN	0	0	1,272,165	0	5,128,184	8.1%

Leon Cooperman

Omega Advisors

Page 1 of 5 – SEC Filing

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13D/A

Under the Securities Exchange Act of 1934

(Amendment No. 2)*

LIONBRIDGE TECHNOLOGIES, INC.

(Name of Issuer)

Common Stock, par value $0.01 per share

(Title of Class of Securities)

536252109

(CUSIP Number)

Leon G. Cooperman

11431 W. Palmetto Park Road

Boca Raton FL 33428
(561) 852-2565

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

July 7, 2016

(Date of Event which Requires Filing of this Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box ☐.

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See §240.13d-7 for other parties to whom copies are to be sent.

^* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 “Act” or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

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