Laurion Capital Management LP Purchases New Position in LogMeIn Inc (LOGM)

Laurion Capital Management LP purchased a new position in shares of LogMeIn Inc (NASDAQ:LOGM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 243,566 shares of the software maker’s stock, valued at approximately $21,702,000. Laurion Capital Management LP owned 0.48% of LogMeIn as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. Smith Asset Management Group LP grew its stake in shares of LogMeIn by 3.4% during the 3rd quarter. Smith Asset Management Group LP now owns 20,773 shares of the software maker’s stock worth $1,851,000 after acquiring an additional 690 shares during the period. Sigma Planning Corp grew its stake in shares of 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 acquiring an additional 730 shares during the period. Arizona State Retirement System grew its stake in shares of LogMeIn by 2.3% during the 2nd quarter. Arizona State Retirement System now owns 36,250 shares of the software maker’s stock worth $3,743,000 after acquiring an additional 830 shares during the period. US Bancorp DE boosted its stake in LogMeIn by 23.5% in the 3rd quarter. US Bancorp DE now owns 4,376 shares of the software maker’s stock worth $390,000 after purchasing an additional 833 shares during the period. Finally, People s United Financial Inc. boosted its stake in LogMeIn by 16.0% in the 2nd quarter. People s United Financial Inc. now owns 6,224 shares of the software maker’s stock worth $643,000 after purchasing an additional 860 shares during the period. Institutional investors own 97.97% of the company’s stock.

In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $85.70, for a total value of $1,714,000.00. Following the sale, the director now owns 607,026 shares of the company’s stock, valued at approximately $52,022,128.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 2.50% of the company’s stock.

Several brokerages have commented on LOGM. BidaskClub downgraded LogMeIn from a “buy” rating to a “hold” rating in a research note on Thursday, October 11th. Zacks Investment Research upgraded LogMeIn from a “hold” rating to a “buy” rating and set a $97.00 target price for the company in a research note on Friday, November 16th. Barclays raised their target price on LogMeIn from $105.00 to $112.00 and gave the stock an “overweight” rating in a research note on Friday, September 7th. TheStreet upgraded LogMeIn from a “c+” rating to a “b-” rating in a research note on Monday, November 26th. Finally, Needham & Company LLC cut their target price on LogMeIn from $112.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, September 7th. One analyst has rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus price target of $110.10.

Shares of NASDAQ LOGM opened at $88.40 on Thursday. LogMeIn Inc has a 52 week low of $74.87 and a 52 week high of $134.80. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.07. The stock has a market capitalization of $4.52 billion, a price-to-earnings ratio of 26.39, a P/E/G ratio of 1.15 and a beta of 1.05.

LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, October 25th. The software maker reported $1.40 EPS for the quarter, topping the consensus estimate of $1.34 by $0.06. LogMeIn had a return on equity of 7.19% and a net margin of 12.16%. The business had revenue of $309.58 million during the quarter, compared to the consensus estimate of $302.92 million. On average, equities analysts forecast that LogMeIn Inc will post 4.38 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, November 13th. This represents a $1.20 annualized dividend and a dividend yield of 1.36%. LogMeIn’s payout ratio is currently 35.82%.

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LogMeIn 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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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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