Victory Capital Management Inc recently disclosed that they own 7.8% of LogMein Inc. (NASDAQ:LOGM) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Thursday, September 22nd. The investor owns 1,964,877 shares of the stock valued at $177,349,798. The filing is available through the SEC website at this link.
Other hedge funds and other institutional investors have also modified their holdings of the company. Victory Capital Management Inc. raised its position in LogMein by 160.9% in the second quarter. Victory Capital Management Inc. now owns 2,069 shares of the company’s stock worth $131,000 after buying an additional 1,276 shares during the last quarter. Acrospire Investment Management LLC purchased a new position in LogMein during the first quarter worth $146,000. PineBridge Investments L.P. raised its position in LogMein by 3.4% in the second quarter. PineBridge Investments L.P. now owns 3,170 shares of the company’s stock worth $201,000 after buying an additional 103 shares during the last quarter. Janney Montgomery Scott LLC purchased a new position in LogMein during the second quarter worth $208,000. Finally, Profund Advisors LLC purchased a new position in LogMein during the second quarter worth $211,000.
Shares of LogMein Inc. (NASDAQ:LOGM) traded down 1.08% during trading on Thursday, reaching $90.26. 506,583 shares of the company traded hands. LogMein Inc. has a 52 week low of $35.00 and a 52 week high of $94.42. The company’s 50-day moving average price is $85.36 and its 200-day moving average price is $65.51. The company has a market capitalization of $2.28 billion, a P/E ratio of 177.33 and a beta of 1.20.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings results on Tuesday, July 26th. The company reported $0.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.46 by $0.03. The firm had revenue of $83.30 million for the quarter, compared to the consensus estimate of $81.80 million. LogMein had a net margin of 4.29% and a return on equity of 12.99%. The business’s quarterly revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the firm posted $0.35 EPS. Equities research analysts forecast that LogMein Inc. will post $1.93 EPS for the current fiscal year.
The business also recently declared a special dividend, which was paid on Friday, August 26th. Stockholders of record on Monday, August 8th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Thursday, August 4th.
A number of research analysts recently weighed in on the stock. Zacks Investment Research lowered shares of LogMein from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Needham & Company LLC lifted their price objective on shares of LogMein from $81.00 to $98.00 and gave the stock a “strong-buy” rating in a research report on Wednesday, July 27th. JPMorgan Chase & Co. raised shares of LogMein from a “neutral” rating to an “overweight” rating and set a $96.00 price objective on the stock in a research report on Wednesday, July 27th. Barclays PLC lifted their price objective on shares of LogMein from $57.00 to $82.00 and gave the stock an “underweight” rating in a research report on Wednesday, July 27th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating on shares of LogMein in a research report on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $77.44.
In other news, Director Steven G. Chambers sold 4,540 shares of the stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $84.42, for a total value of $383,266.80. Following the transaction, the director now owns 1,850 shares in the company, valued at approximately $156,177. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marilyn Matz sold 500 shares of the stock in a transaction that occurred on Wednesday, August 10th. The stock was sold at an average price of $83.20, for a total transaction of $41,600.00. Following the completion of the transaction, the director now owns 1,950 shares in the company, valued at approximately $162,240. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
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 product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively and RemotelyAnywhere.
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