LogMein, Inc. (LOGM) Shares Bought by Icon Advisers Inc. Co.
Icon Advisers Inc. Co. raised its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 124.8% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 69,700 shares of the software maker’s stock after acquiring an additional 38,700 shares during the period. Icon Advisers Inc. Co. owned approximately 0.13% of LogMein worth $7,284,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Creative Planning lifted its stake in LogMein by 0.3% during the 2nd quarter. Creative Planning now owns 1,147 shares of the software maker’s stock valued at $120,000 after acquiring an additional 3 shares during the period. American Capital Management Inc. bought a new position in LogMein during the 2nd quarter valued at about $203,000. Osborn Williams & Donohoe LLC bought a new position in LogMein during the 2nd quarter valued at about $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in LogMein by 102.0% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock valued at $190,000 after acquiring an additional 985 shares during the period. Finally, Trexquant Investment LP bought a new position in LogMein during the 2nd quarter valued at about $209,000. Institutional investors and hedge funds own 95.69% of the company’s stock.
In related news, insider Christopher Battles sold 721 shares of LogMein stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the sale, the insider now owns 2,036 shares of the company’s stock, valued at $239,800.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael K. Simon sold 20,000 shares of LogMein stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.33, for a total value of $2,326,600.00. Following the sale, the director now directly owns 790,977 shares of the company’s stock, valued at approximately $92,014,354.41. The disclosure for this sale can be found here. Insiders have sold 69,319 shares of company stock worth $7,922,367 in the last 90 days. Insiders own 2.50% of the company’s stock.
Several research firms have issued reports on LOGM. KeyCorp upgraded shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 target price on the stock in a research note on Friday, July 28th. Piper Jaffray Companies restated an “overweight” rating and set a $170.00 target price on shares of LogMein in a research note on Wednesday, August 9th. BidaskClub cut shares of LogMein from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Northland Securities restated a “buy” rating on shares of LogMein in a research note on Friday, July 28th. Finally, Zacks Investment Research upgraded shares of LogMein from a “hold” rating to a “buy” rating and set a $131.00 target price on the stock in a research note on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $131.85.
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Shares of LogMein, Inc. (LOGM) traded down 1.44% during trading on Thursday, hitting $109.85. 54,456 shares of the stock traded hands. The firm’s market cap is $5.79 billion. The stock has a 50 day moving average of $113.86 and a 200 day moving average of $108.34. LogMein, Inc. has a 52-week low of $86.22 and a 52-week high of $123.95.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.93 by $0.08. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The business had revenue of $266.95 million for the quarter, compared to analyst estimates of $264.95 million. During the same quarter in the previous year, the firm earned $0.49 earnings per share. The company’s revenue was up 220.6% on a year-over-year basis. Analysts expect that LogMein, Inc. will post $4.05 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.90%. LogMein’s payout ratio is -909.01%.
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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