LogMeIn Inc (NASDAQ:LOGM) saw a significant increase in short interest in October. As of October 31st, there was short interest totalling 3,600,000 shares, an increase of 37.4% from the September 30th total of 2,620,000 shares. Currently, 7.6% of the shares of the stock are sold short. Based on an average daily volume of 433,600 shares, the days-to-cover ratio is currently 8.3 days.
LOGM has been the subject of a number of recent research reports. Northland Securities restated a “buy” rating on shares of LogMeIn in a research report on Friday, July 26th. BidaskClub downgraded LogMeIn from a “sell” rating to a “strong sell” rating in a research report on Friday, October 4th. Berenberg Bank initiated coverage on LogMeIn in a research report on Thursday, October 10th. They set a “buy” rating and a $91.00 target price for the company. Stephens restated an “equal weight” rating and set a $77.00 target price on shares of LogMeIn in a research report on Thursday, August 22nd. Finally, ValuEngine upgraded LogMeIn from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $88.20.
Shares of LOGM stock traded down $0.29 on Tuesday, hitting $68.76. 903 shares of the stock were exchanged, compared to its average volume of 594,927. The company has a current ratio of 0.47, a quick ratio of 0.47 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $3.48 billion, a P/E ratio of 15.18, a price-to-earnings-growth ratio of 3.43 and a beta of 1.07. The business has a 50-day moving average of $68.41 and a 200 day moving average of $72.18. LogMeIn has a fifty-two week low of $62.02 and a fifty-two week high of $96.87.
LogMeIn (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, October 24th. The software maker reported $1.39 earnings per share for the quarter, topping the consensus estimate of $1.36 by $0.03. The company had revenue of $317.20 million during the quarter, compared to analysts’ expectations of $316.29 million. LogMeIn had a return on equity of 7.37% and a net margin of 1.20%. LogMeIn’s revenue for the quarter was up 2.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. As a group, research analysts forecast that LogMeIn will post 4.08 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 29th. Stockholders of record on Wednesday, November 13th will be given a dividend of $0.325 per share. The ex-dividend date is Tuesday, November 12th. This represents a $1.30 annualized dividend and a dividend yield of 1.89%. LogMeIn’s dividend payout ratio is currently 28.57%.
In other news, Director Peter John Sacripanti sold 7,124 shares of the business’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $70.00, for a total transaction of $498,680.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Steven J. Benson sold 1,000 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $66.96, for a total value of $66,960.00. Following the sale, the director now owns 2,223 shares of the company’s stock, valued at approximately $148,852.08. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by insiders.
Hedge funds have recently bought and sold shares of the company. Stonebridge Capital Advisors LLC acquired a new position in shares of LogMeIn during the second quarter worth about $33,000. Benjamin F. Edwards & Company Inc. boosted its position in shares of LogMeIn by 235.3% during the third quarter. Benjamin F. Edwards & Company Inc. now owns 503 shares of the software maker’s stock worth $36,000 after buying an additional 353 shares during the period. Cerebellum GP LLC boosted its position in shares of LogMeIn by 81.8% during the third quarter. Cerebellum GP LLC now owns 831 shares of the software maker’s stock worth $95,000 after buying an additional 374 shares during the period. Quest Capital Management Inc. ADV acquired a new position in LogMeIn during the third quarter valued at approximately $76,000. Finally, CSat Investment Advisory L.P. acquired a new position in LogMeIn during the second quarter valued at approximately $100,000. 95.49% of the stock is 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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