Nisa Investment Advisors LLC trimmed its holdings in LogMeIn Inc (NASDAQ:LOGM) by 72.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,613 shares of the software maker’s stock after selling 20,523 shares during the quarter. Nisa Investment Advisors LLC’s holdings in LogMeIn were worth $561,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in LogMeIn by 7.9% in the 1st quarter. BlackRock Inc. now owns 4,906,972 shares of the software maker’s stock worth $393,048,000 after purchasing an additional 359,569 shares in the last quarter. First Trust Advisors LP raised its position in shares of LogMeIn by 7.1% during the 1st quarter. First Trust Advisors LP now owns 1,693,883 shares of the software maker’s stock valued at $135,680,000 after buying an additional 112,961 shares during the period. Champlain Investment Partners LLC raised its position in shares of LogMeIn by 2.2% during the 1st quarter. Champlain Investment Partners LLC now owns 1,519,600 shares of the software maker’s stock valued at $121,720,000 after buying an additional 33,365 shares during the period. Clearbridge Investments LLC raised its position in shares of LogMeIn by 10.5% during the 1st quarter. Clearbridge Investments LLC now owns 1,082,778 shares of the software maker’s stock valued at $86,731,000 after buying an additional 103,153 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of LogMeIn by 15.3% during the 4th quarter. Dimensional Fund Advisors LP now owns 831,108 shares of the software maker’s stock valued at $67,792,000 after buying an additional 110,179 shares during the period. 97.56% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ LOGM traded down $1.54 during trading hours on Monday, hitting $72.07. The company had a trading volume of 4,880 shares, compared to its average volume of 453,000. The company has a current ratio of 0.46, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10. LogMeIn Inc has a 1-year low of $68.00 and a 1-year high of $96.87. The stock has a market cap of $3.67 billion, a P/E ratio of 15.78, a PEG ratio of 3.67 and a beta of 1.01. The firm has a 50 day moving average of $74.18.
LogMeIn (NASDAQ:LOGM) last released its quarterly earnings data on Thursday, July 25th. The software maker reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.85 by $0.05. LogMeIn had a net margin of 1.82% and a return on equity of 7.44%. The company had revenue of $313.10 million during the quarter, compared to the consensus estimate of $310.98 million. During the same quarter in the prior year, the firm posted $1.32 earnings per share. LogMeIn’s revenue for the quarter was up 2.4% on a year-over-year basis. On average, sell-side analysts predict that LogMeIn Inc will post 4.02 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, August 23rd. Shareholders of record on Wednesday, August 7th will be paid a $0.325 dividend. The ex-dividend date of this dividend is Tuesday, August 6th. This represents a $1.30 annualized dividend and a yield of 1.80%. LogMeIn’s dividend payout ratio is presently 28.57%.
In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $75.79, for a total value of $1,705,275.00. Following the completion of the transaction, the director now owns 504,753 shares in the company, valued at $38,255,229.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.40% of the company’s stock.
LOGM has been the topic of several analyst reports. Northland Securities reaffirmed a “buy” rating on shares of LogMeIn in a research report on Friday, July 26th. BidaskClub lowered LogMeIn from a “hold” rating to a “sell” rating in a research report on Tuesday, July 30th. Barclays lowered LogMeIn from an “overweight” rating to an “underweight” rating and cut their target price for the company from $104.00 to $74.00 in a research report on Friday, April 12th. TheStreet lowered LogMeIn from a “b” rating to a “c” rating in a research report on Friday, April 26th. Finally, Zacks Investment Research raised LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, July 31st. Three investment analysts have rated the stock with a sell rating, five have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $93.67.
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.
Read More: The Role of a Fiduciary and Individual Investors
Want to see what other hedge funds are holding LOGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LogMeIn Inc (NASDAQ:LOGM).
Receive News & Ratings for LogMeIn Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMeIn and related companies with MarketBeat.com's FREE daily email newsletter.