Acadian Asset Management LLC bought a new stake in shares of LogMeIn Inc (NASDAQ:LOGM) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,690 shares of the software maker’s stock, valued at approximately $856,000.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Flagship Harbor Advisors LLC lifted its stake in shares of LogMeIn by 59.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock worth $45,000 after purchasing an additional 211 shares during the period. IFP Advisors Inc lifted its stake in shares of LogMeIn by 853.7% in the 4th quarter. IFP Advisors Inc now owns 782 shares of the software maker’s stock worth $63,000 after purchasing an additional 700 shares during the period. Enlightenment Research LLC bought a new position in shares of LogMeIn in the 4th quarter worth approximately $65,000. Cullen Frost Bankers Inc. bought a new position in shares of LogMeIn in the 1st quarter worth approximately $91,000. Finally, Oppenheimer Asset Management Inc. bought a new position in shares of LogMeIn in the 4th quarter worth approximately $96,000. Institutional investors and hedge funds own 97.11% of the company’s stock.
NASDAQ LOGM opened at $72.05 on Monday. LogMeIn Inc has a 12 month low of $69.18 and a 12 month high of $114.45. The company has a market cap of $3.59 billion, a price-to-earnings ratio of 15.84, a PEG ratio of 1.49 and a beta of 1.11. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10.
LogMeIn (NASDAQ:LOGM) last released its earnings results on Thursday, April 25th. The software maker reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.27. LogMeIn had a net margin of 2.89% and a return on equity of 7.68%. The company had revenue of $307.70 million for the quarter, compared to analysts’ expectations of $305.57 million. During the same quarter last year, the business earned $1.21 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. As a group, analysts expect that LogMeIn Inc will post 3.86 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date was Tuesday, May 7th. LogMeIn’s dividend payout ratio (DPR) is currently 28.57%.
In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the completion of the sale, the director now directly owns 504,753 shares of the company’s stock, valued at approximately $38,255,229.87. The sale was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.40% of the company’s stock.
Several brokerages have recently weighed in on LOGM. BidaskClub upgraded shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, February 13th. KeyCorp decreased their target price on shares of LogMeIn from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, February 15th. Oppenheimer cut shares of LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a research note on Friday, February 15th. Needham & Company LLC cut shares of LogMeIn from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Finally, Northland Securities restated a “buy” rating and set a $125.00 target price on shares of LogMeIn in a research note on Friday, April 26th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $94.90.
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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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