Icon Advisers Inc. Co. trimmed its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 28.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 70,983 shares of the software maker’s stock after selling 28,128 shares during the period. Icon Advisers Inc. Co.’s holdings in LogMeIn were worth $6,325,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in LOGM. Bronfman E.L. Rothschild L.P. increased its holdings in shares of LogMeIn by 299.4% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,350 shares of the software maker’s stock worth $139,000 after buying an additional 1,012 shares during the last quarter. Osborn Williams & Donohoe LLC acquired a new stake in shares of LogMeIn during the 2nd quarter worth $200,000. We Are One Seven LLC acquired a new stake in shares of LogMeIn during the 3rd quarter worth $215,000. Global X Management Co LLC acquired a new stake in shares of LogMeIn during the 2nd quarter worth $216,000. Finally, Sigma Planning Corp increased its holdings in shares of LogMeIn by 39.5% during the 2nd quarter. Sigma Planning Corp now owns 2,580 shares of the software maker’s stock worth $266,000 after buying an additional 730 shares during the last quarter. Institutional investors and hedge funds own 98.67% of the company’s stock.
Shares of NASDAQ LOGM opened at $87.27 on Wednesday. LogMeIn Inc has a 12-month low of $74.87 and a 12-month high of $134.80. The firm has a market capitalization of $4.50 billion, a P/E ratio of 26.05, a P/E/G ratio of 1.15 and a beta of 1.06. The company has a debt-to-equity ratio of 0.07, a current ratio of 0.62 and a quick ratio of 0.62.
LogMeIn (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, October 25th. The software maker reported $1.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.34 by $0.06. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. The firm had revenue of $309.58 million during the quarter, compared to the consensus estimate of $302.92 million. On average, analysts forecast that LogMeIn Inc will post 4.38 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Investors of record on Wednesday, November 14th will be issued a $0.30 dividend. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.38%. LogMeIn’s dividend payout ratio is currently 35.82%.
A number of analysts have recently commented on LOGM shares. Zacks Investment Research upgraded LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. UBS Group upgraded LogMeIn from a “market perform” rating to an “outperform” rating in a report on Monday, October 1st. BidaskClub upgraded LogMeIn from a “hold” rating to a “buy” rating in a report on Thursday, September 13th. Oppenheimer upgraded LogMeIn from a “market perform” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Monday, October 1st. Finally, Piper Jaffray Companies dropped their price objective on LogMeIn from $95.00 to $90.00 and set a “neutral” rating for the company in a report on Monday, October 15th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and seven have assigned a buy rating to the company. LogMeIn has an average rating of “Hold” and an average price target of $113.50.
In related news, Director Michael K. Simon sold 20,000 shares of the stock in a transaction on Monday, September 10th. The stock was sold at an average price of $84.61, for a total value of $1,692,200.00. Following the completion of the sale, the director now directly owns 636,966 shares in the company, valued at approximately $53,893,693.26. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Over the last quarter, insiders sold 60,000 shares of company stock valued at $5,058,800. 2.30% of the stock is owned by insiders.
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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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