Hussman Strategic Advisors Inc. held its stake in shares of LogMein, Inc. (NASDAQ:LOGM) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 12,888 shares of the software maker’s stock at the end of the second quarter. Hussman Strategic Advisors Inc.’s holdings in LogMein were worth $1,347,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of LOGM. Elliott Management Corp acquired a new stake in LogMein during the first quarter valued at approximately $118,804,000. Cim LLC boosted its stake in LogMein by 26.1% in the first quarter. Cim LLC now owns 5,339 shares of the software maker’s stock valued at $520,000 after buying an additional 1,104 shares in the last quarter. Teachers Advisors LLC boosted its stake in LogMein by 48.6% in the first quarter. Teachers Advisors LLC now owns 348,029 shares of the software maker’s stock valued at $33,933,000 after buying an additional 113,746 shares in the last quarter. Weiss Multi Strategy Advisers LLC purchased a new position in shares of LogMein during the first quarter valued at about $1,951,000. Finally, Massachusetts Financial Services Co. MA raised its position in shares of LogMein by 155.7% in the first quarter. Massachusetts Financial Services Co. MA now owns 1,597,788 shares of the software maker’s stock valued at $155,784,000 after buying an additional 972,980 shares during the last quarter. 97.39% of the stock is owned by institutional investors.
Shares of LogMein, Inc. (LOGM) traded up 0.04% during trading on Friday, hitting $113.50. The stock had a trading volume of 296,444 shares. The firm’s market capitalization is $5.98 billion. LogMein, Inc. has a 1-year low of $79.63 and a 1-year high of $123.95. The stock’s 50-day moving average price is $112.29 and its 200 day moving average price is $106.70.
LogMein (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $264.95 million. During the same quarter in the prior year, the business posted $0.49 EPS. LogMein’s revenue for the quarter was up 220.6% compared to the same quarter last year. On average, analysts anticipate that LogMein, Inc. will post $4.06 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th will be paid a $0.25 dividend. The ex-dividend date is Monday, August 7th. This represents a $1.00 dividend on an annualized basis and a yield of 0.88%. LogMein’s payout ratio is presently -909.01%.
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Several research analysts have issued reports on LOGM shares. BidaskClub lowered LogMein from a “strong-buy” rating to a “buy” rating in a report on Thursday, August 3rd. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $131.00 price target on the stock in a report on Thursday, August 3rd. Northland Securities reiterated a “buy” rating on shares of LogMein in a report on Friday, July 28th. Needham & Company LLC reiterated a “buy” rating and issued a $125.00 price target (up previously from $110.00) on shares of LogMein in a report on Friday, May 5th. Finally, Cowen and Company raised their target price on LogMein from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Monday, May 15th. 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 company has an average rating of “Buy” and a consensus target price of $127.74.
In other news, CEO William Raymond Wagner sold 4,588 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $116.30, for a total transaction of $533,584.40. Following the completion of the transaction, the chief executive officer now owns 69,542 shares in the company, valued at $8,087,734.60. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 value of $84,919.38. Following the transaction, the insider now owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The disclosure for this sale can be found here. Insiders sold a total of 116,860 shares of company stock valued at $13,258,245 in the last quarter. 2.50% of the stock is currently owned by company insiders.
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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