LOGM has been the subject of a number of other reports. ValuEngine lowered shares of LogMeIn from a hold rating to a sell rating in a report on Monday, April 1st. Zacks Investment Research downgraded shares of LogMeIn from a buy rating to a hold rating in a research report on Monday, December 31st. Mizuho began coverage on shares of LogMeIn in a research report on Wednesday, March 13th. They set a neutral rating and a $88.00 price objective on the stock. Oppenheimer downgraded shares of LogMeIn from an outperform rating to a market perform rating and set a $105.00 price objective on the stock. in a research report on Friday, February 15th. Finally, Needham & Company LLC downgraded shares of LogMeIn from a buy rating to a hold rating in a research report on Friday, February 15th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of Hold and a consensus price target of $100.45.
NASDAQ:LOGM traded down $3.30 during mid-day trading on Thursday, hitting $80.99. 1,577,963 shares of the stock traded hands, compared to its average volume of 824,837. The stock has a market cap of $4.18 billion, a P/E ratio of 17.80, a P/E/G ratio of 1.25 and a beta of 1.03. LogMeIn has a 12-month low of $74.87 and a 12-month high of $118.80. The company has a current ratio of 0.63, a quick ratio of 0.63 and a debt-to-equity ratio of 0.07.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, May 24th. Investors of record on Wednesday, May 8th will be given a dividend of $0.325 per share. This represents a $1.30 annualized dividend and a yield of 1.61%. The ex-dividend date of this dividend is Tuesday, May 7th. LogMeIn’s dividend payout ratio (DPR) is 28.57%.
In related news, Director Michael K. Simon sold 22,500 shares of the stock in a transaction dated Monday, March 11th. The shares were sold at an average price of $81.17, for a total transaction of $1,826,325.00. Following the sale, the director now directly owns 547,074 shares of the company’s stock, valued at approximately $44,405,996.58. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.40% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the stock. JPMorgan Chase & Co. lifted its stake in LogMeIn by 6.8% during the 3rd quarter. JPMorgan Chase & Co. now owns 58,530 shares of the software maker’s stock valued at $5,215,000 after acquiring an additional 3,719 shares during the period. Janus Henderson Group PLC bought a new position in LogMeIn during the 3rd quarter valued at about $382,000. Bank of New York Mellon Corp lifted its stake in LogMeIn by 10.9% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,663,880 shares of the software maker’s stock valued at $148,252,000 after acquiring an additional 163,724 shares during the period. BlackRock Inc. lifted its stake in LogMeIn by 0.3% during the 3rd quarter. BlackRock Inc. now owns 4,501,800 shares of the software maker’s stock valued at $401,109,000 after acquiring an additional 11,846 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in LogMeIn by 48.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 720,929 shares of the software maker’s stock valued at $64,231,000 after acquiring an additional 234,717 shares during the period. 97.95% of the stock is currently owned by institutional investors.
LogMeIn Company Profile
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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