LogMeIn Inc (LOGM) Stake Lowered by Strs Ohio
Strs Ohio reduced its holdings in LogMeIn Inc (NASDAQ:LOGM) by 96.6% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,665 shares of the software maker’s stock after selling 74,835 shares during the quarter. Strs Ohio’s holdings in LogMeIn were worth $275,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also made changes to their positions in the company. Assetmark Inc. boosted its holdings in shares of LogMeIn by 77.5% in the 1st quarter. Assetmark Inc. now owns 1,436 shares of the software maker’s stock worth $166,000 after acquiring an additional 627 shares in the last quarter. Osborn Williams & Donohoe LLC acquired a new position in shares of LogMeIn in the 2nd quarter worth approximately $200,000. Silvant Capital Management LLC acquired a new position in LogMeIn during the 1st quarter worth $267,000. Sigma Planning Corp lifted its holdings in 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 in the last quarter. Finally, Synovus Financial Corp lifted its holdings in LogMeIn by 7,912.8% during the 2nd quarter. Synovus Financial Corp now owns 3,125 shares of the software maker’s stock worth $324,000 after buying an additional 3,086 shares in the last quarter. 98.74% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:LOGM opened at $85.70 on Thursday. LogMeIn Inc has a 52-week low of $77.05 and a 52-week high of $134.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 0.64 and a current ratio of 0.64. The firm has a market cap of $4.43 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 1.16 and a beta of 1.09.
The business also recently declared a quarterly dividend, which was paid on Friday, August 24th. Stockholders of record on Wednesday, August 8th were paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date was Tuesday, August 7th. LogMeIn’s dividend payout ratio (DPR) is currently 35.82%.
LOGM has been the topic of several research reports. Zacks Investment Research raised LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, July 25th. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a report on Thursday. Needham & Company LLC reduced their price objective on LogMeIn from $112.00 to $100.00 and set a “buy” rating on the stock in a report on Friday, September 7th. Robert W. Baird downgraded LogMeIn from an “outperform” rating to a “neutral” rating in a report on Friday, July 27th. Finally, ValuEngine raised LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, June 20th. One analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. LogMeIn presently has a consensus rating of “Hold” and a consensus target price of $117.90.
In other 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 transaction, the director now owns 636,966 shares of the company’s stock, valued at approximately $53,893,693.26. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher Battles sold 2,530 shares of the stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $81.13, for a total value of $205,258.90. Following the completion of the transaction, the insider now directly owns 5,468 shares in the company, valued at approximately $443,618.84. The disclosure for this sale can be found here. In the last three months, insiders sold 62,790 shares of company stock worth $5,190,442. 2.50% of the stock is currently owned by company insiders.
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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