Marcus Capital LLC decreased its holdings in shares of LogMein, Inc. (NASDAQ:LOGM) by 46.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,375 shares of the software maker’s stock after selling 7,375 shares during the quarter. Marcus Capital LLC’s holdings in LogMein were worth $922,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LOGM. Dimensional Fund Advisors LP grew its stake in shares of LogMein by 368.3% during the first quarter. Dimensional Fund Advisors LP now owns 332,772 shares of the software maker’s stock valued at $32,446,000 after buying an additional 261,715 shares during the last quarter. HighTower Advisors LLC bought a new position in shares of LogMein during the first quarter valued at approximately $280,000. Capstone Asset Management Co. grew its stake in shares of LogMein by 12.9% during the second quarter. Capstone Asset Management Co. now owns 7,376 shares of the software maker’s stock valued at $771,000 after buying an additional 843 shares during the last quarter. Creative Planning grew its stake in shares of LogMein by 0.3% during the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after buying an additional 3 shares during the last quarter. Finally, LS Investment Advisors LLC grew its stake in shares of LogMein by 13.9% during the second quarter. LS Investment Advisors LLC now owns 5,400 shares of the software maker’s stock valued at $564,000 after buying an additional 657 shares during the last quarter. 96.62% of the stock is currently owned by hedge funds and other institutional investors.
LogMein, Inc. (NASDAQ LOGM) traded down $1.10 during trading on Wednesday, reaching $114.50. The company’s stock had a trading volume of 511,000 shares, compared to its average volume of 732,209. The stock has a market capitalization of $6,084.92, a price-to-earnings ratio of 43.13, a P/E/G ratio of 2.01 and a beta of 1.34. LogMein, Inc. has a one year low of $90.35 and a one year high of $129.51.
LogMein (NASDAQ:LOGM) last posted its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The company had revenue of $269.30 million during the quarter, compared to analyst estimates of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. LogMein’s revenue was up 216.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.56 earnings per share. equities research analysts predict that LogMein, Inc. will post 3.28 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Shareholders of record on Wednesday, November 8th will be issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.87%. LogMein’s dividend payout ratio is currently 909.17%.
In other LogMein news, insider Christopher Battles sold 1,136 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the completion of the sale, the insider now owns 2,760 shares in the company, valued at $329,626.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven J. Benson sold 3,016 shares of the company’s stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total value of $336,585.60. Following the sale, the director now owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 24,152 shares of company stock valued at $2,710,858. 2.50% of the stock is owned by company insiders.
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LOGM has been the topic of a number of analyst reports. BidaskClub cut LogMein from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 3rd. Cowen and Company reiterated a “buy” rating and issued a $134.00 price target on shares of LogMein in a report on Friday, September 1st. Robert W. Baird reiterated a “hold” rating and issued a $130.00 price target on shares of LogMein in a report on Friday, September 1st. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $135.00 price target for the company in a report on Wednesday, November 1st. Finally, Barclays PLC boosted their price target on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $135.96.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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