361 Capital LLC Buys New Position in LogMein, Inc. (LOGM)

361 Capital LLC bought a new stake in LogMein, Inc. (NASDAQ:LOGM) in the 3rd quarter, according to its most recent filing with the SEC. The fund bought 7,485 shares of the software maker’s stock, valued at approximately $824,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Creative Planning lifted its stake in shares of LogMein by 0.3% in the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after purchasing an additional 3 shares during the period. Renaissance Group LLC lifted its stake in shares of LogMein by 0.9% in the 2nd quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock valued at $360,000 after purchasing an additional 32 shares during the period. M&T Bank Corp lifted its stake in shares of LogMein by 1.8% in the 2nd quarter. M&T Bank Corp now owns 2,104 shares of the software maker’s stock valued at $219,000 after purchasing an additional 37 shares during the period. D.A. Davidson & CO. lifted its stake in shares of LogMein by 1.5% in the 2nd quarter. D.A. Davidson & CO. now owns 4,127 shares of the software maker’s stock valued at $431,000 after purchasing an additional 61 shares during the period. Finally, Advisor Group Inc. lifted its stake in shares of LogMein by 4.0% in the 2nd quarter. Advisor Group Inc. now owns 3,236 shares of the software maker’s stock valued at $335,000 after purchasing an additional 123 shares during the period. Hedge funds and other institutional investors own 95.39% of the company’s stock.

LOGM has been the subject of several analyst reports. Northland Securities reiterated a “buy” rating on shares of LogMein in a research note on Friday, July 28th. Cowen and Company restated a “buy” rating and set a $134.00 price objective on shares of LogMein in a research report on Friday, September 1st. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research report on Thursday, August 3rd. Finally, Piper Jaffray Companies restated a “buy” rating and set a $170.00 price objective on shares of LogMein in a research report on Tuesday, October 24th. One 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 an average rating of “Buy” and a consensus target price of $135.96.

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LogMein, Inc. (NASDAQ LOGM) traded down $1.00 during trading hours on Monday, reaching $116.40. 260,000 shares of the company’s stock were exchanged, compared to its average volume of 728,829. LogMein, Inc. has a 52 week low of $90.35 and a 52 week high of $129.51. The firm has a market capitalization of $6,127.02, a PE ratio of 43.43, a PEG ratio of 2.03 and a beta of 1.34.

LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, October 26th. The software maker reported $1.16 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. LogMein had a net margin of 1.01% and a return on equity of 5.50%. The business had revenue of $269.30 million during the quarter, compared to analyst estimates of $270.56 million. During the same quarter in the prior year, the firm earned $0.56 earnings per share. The company’s revenue for the quarter was up 216.5% compared to the same quarter last year. sell-side analysts forecast that LogMein, Inc. will post 3.28 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 24th. Stockholders of record on Wednesday, November 8th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date is Tuesday, November 7th. LogMein’s payout ratio is 909.17%.

In other news, insider Christopher Battles sold 1,136 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were 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 of the company’s stock, valued at $329,626.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $336,585.60. Following the sale, the director now directly owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The disclosure for this sale can be found here. Insiders have sold 24,152 shares of company stock valued at $2,710,858 in the last ninety days. Insiders own 2.50% of the company’s stock.

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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Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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