Kornitzer Capital Management Inc. KS Reduces Position in LogMeIn Inc (LOGM)

Kornitzer Capital Management Inc. KS reduced its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 84.7% during the 1st quarter, HoldingsChannel reports. The fund owned 3,635 shares of the software maker’s stock after selling 20,166 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in LogMeIn were worth $291,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc raised its position in shares of LogMeIn by 1.4% during the 3rd quarter. Vanguard Group Inc now owns 4,579,956 shares of the software maker’s stock valued at $408,073,000 after acquiring an additional 63,104 shares in the last quarter. BlackRock Inc. raised its position in shares of LogMeIn by 1.0% during the 4th quarter. BlackRock Inc. now owns 4,547,403 shares of the software maker’s stock valued at $370,931,000 after acquiring an additional 45,603 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LogMeIn by 2.6% during the 4th quarter. Bank of New York Mellon Corp now owns 1,707,533 shares of the software maker’s stock valued at $139,285,000 after acquiring an additional 43,653 shares in the last quarter. Epoch Investment Partners Inc. increased its position in LogMeIn by 51.1% in the fourth quarter. Epoch Investment Partners Inc. now owns 1,106,383 shares of the software maker’s stock worth $90,248,000 after buying an additional 374,020 shares during the period. Finally, Dimensional Fund Advisors LP increased its position in LogMeIn by 15.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 831,108 shares of the software maker’s stock worth $67,792,000 after buying an additional 110,179 shares during the period. 97.95% of the stock is currently owned by institutional investors and hedge funds.

LOGM has been the topic of several analyst reports. BidaskClub raised LogMeIn from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, February 13th. Zacks Investment Research raised LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Needham & Company LLC lowered LogMeIn from a “buy” rating to a “hold” rating in a research report on Friday, February 15th. ValuEngine lowered LogMeIn from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. Finally, Oppenheimer lowered LogMeIn from an “outperform” rating to a “market perform” rating and set a $105.00 target price on the stock. in a research report on Friday, February 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company. LogMeIn currently has an average rating of “Hold” and an average target price of $95.30.

Shares of LOGM opened at $80.28 on Friday. The firm has a market cap of $4.01 billion, a PE ratio of 17.64, a price-to-earnings-growth ratio of 1.70 and a beta of 1.02. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.07. LogMeIn Inc has a one year low of $74.87 and a one year high of $118.80.

LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.90 by $0.27. The company had revenue of $307.70 million for the quarter, compared to analyst estimates of $305.57 million. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The company’s quarterly revenue was up 10.2% compared to the same quarter last year. During the same period last year, the company earned $1.21 earnings per share. Sell-side analysts anticipate that LogMeIn Inc will post 3.86 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 24th. Stockholders of record on Wednesday, May 8th will be issued a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.62%. The ex-dividend date is Tuesday, May 7th. LogMeIn’s dividend payout ratio (DPR) is 28.57%.

In other news, Director Michael K. Simon sold 22,500 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $81.22, for a total transaction of $1,827,450.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders have sold 67,500 shares of company stock worth $5,505,300 over the last three months. Corporate insiders own 2.40% of the company’s stock.

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About LogMeIn

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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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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