Wedge Capital Management L L P NC lowered its stake in LogMeIn Inc (NASDAQ:LOGM) by 42.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,428 shares of the software maker’s stock after selling 2,519 shares during the period. Wedge Capital Management L L P NC’s holdings in LogMeIn were worth $243,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of LOGM. Stonebridge Capital Advisors LLC bought a new position in shares of LogMeIn in the second quarter valued at $33,000. Quest Capital Management Inc. ADV acquired a new stake in LogMeIn during the 3rd quarter valued at $76,000. Cerebellum GP LLC raised its stake in LogMeIn by 81.8% during the 3rd quarter. Cerebellum GP LLC now owns 831 shares of the software maker’s stock valued at $95,000 after purchasing an additional 374 shares during the period. CSat Investment Advisory L.P. acquired a new stake in LogMeIn during the 2nd quarter valued at $100,000. Finally, Cresset Asset Management LLC raised its stake in LogMeIn by 270.6% during the 2nd quarter. Cresset Asset Management LLC now owns 2,954 shares of the software maker’s stock valued at $218,000 after purchasing an additional 2,157 shares during the period. 95.81% of the stock is currently owned by institutional investors.
Several analysts have issued reports on the stock. Robert W. Baird set a $85.00 target price on shares of LogMeIn and gave the company a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada cut their target price on shares of LogMeIn from $87.00 to $70.00 and set a “sector perform” rating on the stock in a research note on Friday, October 25th. Zacks Investment Research raised shares of LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research note on Wednesday, July 31st. ValuEngine raised shares of LogMeIn from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Barclays cut their target price on shares of LogMeIn from $75.00 to $70.00 and set an “underweight” rating on the stock in a research note on Friday, October 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $88.20.
Shares of LogMeIn stock traded up $0.31 on Friday, hitting $69.89. 1,178,100 shares of the company traded hands, compared to its average volume of 611,461. The company has a quick ratio of 0.47, a current ratio of 0.47 and a debt-to-equity ratio of 0.11. LogMeIn Inc has a 12-month low of $62.02 and a 12-month high of $96.87. The company has a 50-day moving average price of $68.51 and a 200 day moving average price of $72.30. The company has a market cap of $3.50 billion, a PE ratio of 15.36, a PEG ratio of 3.44 and a beta of 1.07.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings results on Thursday, October 24th. The software maker reported $1.39 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.36 by $0.03. LogMeIn had a net margin of 1.20% and a return on equity of 7.37%. The company had revenue of $317.20 million during the quarter, compared to analysts’ expectations of $316.29 million. During the same period in the prior year, the company earned $1.40 earnings per share. The business’s quarterly revenue was up 2.7% compared to the same quarter last year. Equities research analysts anticipate that LogMeIn Inc will post 4.08 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 29th. Shareholders of record on Wednesday, November 13th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date of this dividend is Tuesday, November 12th. LogMeIn’s dividend payout ratio (DPR) is 28.57%.
In other news, Director Steven J. Benson sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $66.96, for a total transaction of $66,960.00. Following the completion of the transaction, the director now owns 2,223 shares of the company’s stock, valued at $148,852.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Peter John Sacripanti sold 7,124 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total transaction of $498,680.00. The disclosure for this sale can be found here. 2.40% of the stock is owned by corporate insiders.
LogMeIn Company Profile
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
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