Highbridge Capital Management LLC Has $866,000 Stake in LogMein, Inc. (LOGM)
Highbridge Capital Management LLC cut its stake in LogMein, Inc. (NASDAQ:LOGM) by 55.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,870 shares of the software maker’s stock after selling 9,638 shares during the period. Highbridge Capital Management LLC’s holdings in LogMein were worth $866,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Reliance Trust Co. of Delaware purchased a new stake in shares of LogMein in the third quarter valued at approximately $201,000. Stephens Inc. AR purchased a new stake in shares of LogMein in the third quarter valued at approximately $202,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of LogMein in the second quarter valued at approximately $208,000. Trexquant Investment LP purchased a new stake in shares of LogMein in the second quarter valued at approximately $209,000. Finally, BB&T Securities LLC purchased a new stake in shares of LogMein in the second quarter valued at approximately $210,000. Institutional investors and hedge funds own 99.32% of the company’s stock.
A number of equities research analysts have recently issued reports on LOGM shares. Cowen restated a “buy” rating and issued a $134.00 price target on shares of LogMein in a research report on Friday, September 1st. Robert W. Baird restated a “hold” rating and issued a $130.00 price target on shares of LogMein in a research report on Friday, September 1st. Royal Bank of Canada restated a “buy” rating and issued a $140.00 price target on shares of LogMein in a research report on Monday, September 4th. Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a research report on Thursday, September 28th. Finally, Piper Jaffray Companies restated a “buy” rating and issued a $170.00 price target on shares of LogMein in a research report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $135.96.
In related news, insider Christopher Battles sold 1,136 shares of the stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total value of $135,672.48. Following the completion of the transaction, the insider now directly owns 2,760 shares in the company, valued at $329,626.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.50% of the company’s stock.
LogMein, Inc. (LOGM) opened at $118.75 on Friday. The firm has a market capitalization of $6,274.41, a P/E ratio of 44.48, a P/E/G ratio of 2.08 and a beta of 1.28. LogMein, Inc. has a 52-week low of $90.35 and a 52-week 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 the consensus estimate of $1.11 by $0.05. The company had revenue of $269.30 million during the quarter, compared to analyst estimates of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The firm’s revenue for the quarter was up 216.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.56 earnings per share. analysts expect that LogMein, Inc. will post 3.28 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Wednesday, November 8th were given a $0.25 dividend. The ex-dividend date was Tuesday, November 7th. This represents a $1.00 annualized dividend and a yield of 0.84%. LogMein’s payout ratio is 909.17%.
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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