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%|
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Page 1 of 5 – SEC Filing
LIONBRIDGE TECHNOLOGIES, INC.
(Name of Issuer)
|Common Stock, par value $0.01 per share|
(Title of Class of Securities)
Leon G. Cooperman
11431 W. Palmetto Park Road
Boca Raton FL 33428
(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)