Trexquant Investment LP Purchases 8,540 Shares of LogMein, Inc. (LOGM)
Trexquant Investment LP lifted its position in shares of LogMein, Inc. (NASDAQ:LOGM) by 426.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,542 shares of the software maker’s stock after buying an additional 8,540 shares during the quarter. Trexquant Investment LP’s holdings in LogMein were worth $1,160,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Group LLC grew its position in shares of LogMein by 0.9% during the 2nd quarter. Renaissance Group LLC now owns 3,445 shares of the software maker’s stock worth $360,000 after buying an additional 32 shares in the last quarter. Neuberger Berman Group LLC grew its position in shares of LogMein by 110.0% during the 2nd quarter. Neuberger Berman Group LLC now owns 210,764 shares of the software maker’s stock worth $22,025,000 after buying an additional 110,384 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of LogMein by 23.6% during the 2nd quarter. Wells Fargo & Company MN now owns 866,387 shares of the software maker’s stock worth $90,537,000 after buying an additional 165,690 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of LogMein by 13.8% during the 2nd quarter. Dimensional Fund Advisors LP now owns 378,597 shares of the software maker’s stock worth $39,566,000 after buying an additional 45,825 shares in the last quarter. Finally, Laurion Capital Management LP bought a new position in shares of LogMein during the 2nd quarter worth $5,086,000. 99.32% of the stock is currently owned by institutional investors and hedge funds.
Shares of LogMein, Inc. (NASDAQ LOGM) opened at $119.45 on Tuesday. The firm has a market capitalization of $6,266.52, a price-to-earnings ratio of 44.42, a P/E/G ratio of 2.07 and a beta of 1.34. LogMein, Inc. has a 12 month low of $90.35 and a 12 month high of $129.51.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 earnings per share for the quarter, topping analysts’ consensus estimates of $1.11 by $0.05. The firm had revenue of $269.30 million during the quarter, compared to analysts’ expectations of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The firm’s quarterly revenue was up 216.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.56 EPS. analysts forecast that LogMein, Inc. will post 3.28 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Wednesday, November 8th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date was Tuesday, November 7th. LogMein’s dividend payout ratio (DPR) is currently 909.17%.
In related news, insider Christopher Battles sold 1,136 shares of the company’s stock in a transaction on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the completion of the sale, the insider now directly owns 2,760 shares in the company, valued at approximately $329,626.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael K. Simon sold 20,000 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $111.93, for a total value of $2,238,600.00. Following the completion of the sale, the director now owns 765,579 shares of the company’s stock, valued at $85,691,257.47. The disclosure for this sale can be found here. Insiders have sold a total of 24,152 shares of company stock valued at $2,710,858 over the last 90 days. 2.50% of the stock is currently owned by company insiders.
A number of equities analysts have recently issued reports on the company. Piper Jaffray Companies reissued a “buy” rating and set a $170.00 price target on shares of LogMein in a research report on Tuesday, October 24th. Zacks Investment Research raised LogMein from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a research report on Thursday, August 3rd. Royal Bank Of Canada reissued a “buy” rating and set a $140.00 price target on shares of LogMein in a research report on Monday, September 4th. Robert W. Baird raised LogMein from a “neutral” rating to an “outperform” rating and set a $130.00 price target on the stock in a research report on Tuesday, October 3rd. Finally, Barclays PLC increased their price target on LogMein from $132.00 to $142.00 and gave the stock an “overweight” rating in a research report on Friday, October 27th. One investment analyst has rated the stock with a sell rating and ten have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $135.96.
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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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