Granite Investment Partners LLC boosted its position in shares of LogMeIn Inc (NASDAQ:LOGM) by 22.6% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,644 shares of the software maker’s stock after purchasing an additional 1,775 shares during the quarter. Granite Investment Partners LLC’s holdings in LogMeIn were worth $772,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOGM. Hancock Whitney Corp purchased a new position in shares of LogMeIn in the 1st quarter valued at $1,221,000. Amundi Pioneer Asset Management Inc. increased its holdings in shares of LogMeIn by 2.9% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 81,742 shares of the software maker’s stock valued at $6,547,000 after acquiring an additional 2,277 shares during the period. Northern Trust Corp grew its stake in LogMeIn by 20.0% during the 1st quarter. Northern Trust Corp now owns 487,387 shares of the software maker’s stock worth $39,040,000 after buying an additional 81,389 shares during the last quarter. Teza Capital Management LLC purchased a new position in LogMeIn during the 1st quarter worth $662,000. Finally, FIL Ltd grew its stake in LogMeIn by 100.4% during the 1st quarter. FIL Ltd now owns 121,240 shares of the software maker’s stock worth $9,711,000 after buying an additional 60,746 shares during the last quarter. Institutional investors own 97.11% of the company’s stock.
In other LogMeIn news, Director Michael K. Simon sold 22,500 shares of LogMeIn stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the completion of the sale, the director now owns 504,753 shares of the company’s stock, valued at approximately $38,255,229.87. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 2.40% of the company’s stock.
Shares of LOGM stock opened at $70.80 on Thursday. LogMeIn Inc has a 1-year low of $69.18 and a 1-year high of $114.45. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 0.10. The firm has a market cap of $3.53 billion, a P/E ratio of 15.56, a price-to-earnings-growth ratio of 1.47 and a beta of 1.11.
LogMeIn (NASDAQ:LOGM) last issued its quarterly earnings results on Thursday, April 25th. The software maker reported $1.17 EPS for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.27. LogMeIn had a return on equity of 7.68% and a net margin of 2.89%. The company had revenue of $307.70 million during the quarter, compared to analysts’ expectations of $305.57 million. During the same quarter in the previous year, the firm posted $1.21 EPS. The firm’s revenue was up 10.2% compared to the same quarter last year. On average, equities research analysts forecast that LogMeIn Inc will post 3.86 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, May 24th. Shareholders of record on Wednesday, May 8th were given a dividend of $0.325 per share. The ex-dividend date of this dividend was Tuesday, May 7th. This represents a $1.30 dividend on an annualized basis and a yield of 1.84%. LogMeIn’s dividend payout ratio is currently 28.57%.
Several research analysts recently weighed in on LOGM shares. Barclays downgraded LogMeIn from an “overweight” rating to an “underweight” rating and dropped their target price for the stock from $104.00 to $74.00 in a research note on Friday, April 12th. Northland Securities restated a “buy” rating and set a $125.00 target price on shares of LogMeIn in a research note on Friday, March 22nd. TheStreet downgraded LogMeIn from a “b” rating to a “c” rating in a research note on Friday, April 26th. KeyCorp dropped their target price on LogMeIn from $120.00 to $95.00 and set an “overweight” rating on the stock in a research note on Friday, February 15th. Finally, Needham & Company LLC downgraded LogMeIn from a “buy” rating to a “hold” rating in a research note on Friday, February 15th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $94.90.
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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