LogMein, Inc. (LOGM) Position Lowered by Schroder Investment Management Group
Schroder Investment Management Group decreased its holdings in LogMein, Inc. (NASDAQ:LOGM) by 53.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,483 shares of the software maker’s stock after selling 27,041 shares during the quarter. Schroder Investment Management Group’s holdings in LogMein were worth $2,471,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Creative Planning lifted its stake in shares of LogMein by 0.3% in the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after acquiring an additional 3 shares in the last quarter. American Capital Management Inc. acquired a new position in shares of LogMein in the second quarter worth about $203,000. Osborn Williams & Donohoe LLC acquired a new position in shares of LogMein in the second quarter worth about $203,000. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of LogMein by 102.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock worth $190,000 after acquiring an additional 985 shares in the last quarter. Finally, Trexquant Investment LP acquired a new position in shares of LogMein in the second quarter worth about $209,000. Institutional investors and hedge funds own 95.41% of the company’s stock.
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In other LogMein news, insider Christopher Battles sold 721 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the transaction, the insider now owns 2,036 shares in the company, valued at $239,800.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Steven J. Benson sold 3,016 shares of the firm’s stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $111.60, for a total transaction of $336,585.60. Following the transaction, the director now owns 1,787 shares of the company’s stock, valued at approximately $199,429.20. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,319 shares of company stock valued at $7,922,367. 2.50% of the stock is owned by corporate insiders.
LOGM has been the topic of several recent analyst reports. Cowen and Company reiterated a “buy” rating and issued a $134.00 price target on shares of LogMein in a research note on Friday, September 1st. BidaskClub upgraded LogMein from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. Piper Jaffray Companies restated an “overweight” rating and set a $150.00 price objective on shares of LogMein in a research note on Friday, June 23rd. Robert W. Baird restated a “hold” rating and set a $130.00 price objective on shares of LogMein in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $140.00 price objective on shares of LogMein in a research note on Monday, September 4th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have assigned a buy rating to the company’s stock. LogMein presently has an average rating of “Buy” and an average target price of $131.85.
LogMein, Inc. (LOGM) opened at 110.60 on Friday. The stock’s 50 day moving average price is $113.56 and its 200 day moving average price is $108.94. LogMein, Inc. has a 12-month low of $86.22 and a 12-month high of $123.95. The company’s market capitalization is $5.83 billion.
LogMein (NASDAQ:LOGM) last released its earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business had revenue of $266.95 million during the quarter, compared to analysts’ expectations of $264.95 million. During the same quarter last year, the company earned $0.49 earnings per share. The firm’s revenue was up 220.6% on a year-over-year basis. On average, equities research analysts anticipate that LogMein, Inc. will post $4.05 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Investors of record on Wednesday, August 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date was Monday, August 7th. LogMein’s payout ratio is presently -909.01%.
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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