Mutual of America Capital Management LLC Sells 20,118 Shares of LogMein, Inc. (LOGM)
Mutual of America Capital Management LLC lowered its position in LogMein, Inc. (NASDAQ:LOGM) by 12.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 143,027 shares of the software maker’s stock after selling 20,118 shares during the quarter. Mutual of America Capital Management LLC owned approximately 0.27% of LogMein worth $14,946,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the stock. Penserra Capital Management LLC raised its holdings in LogMein by 316.8% during the second quarter. Penserra Capital Management LLC now owns 8,224 shares of the software maker’s stock worth $104,000 after purchasing an additional 6,251 shares in the last quarter. Creative Planning raised its holdings in LogMein by 0.3% during the second quarter. Creative Planning now owns 1,147 shares of the software maker’s stock worth $120,000 after purchasing an additional 3 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in LogMein by 102.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,951 shares of the software maker’s stock worth $190,000 after purchasing an additional 985 shares in the last quarter. Sandy Spring Bank acquired a new stake in LogMein during the first quarter worth approximately $199,000. Finally, M&T Bank Corp acquired a new stake in LogMein during the first quarter worth approximately $202,000. Institutional investors own 95.41% of the company’s stock.
A number of analysts have weighed in on LOGM shares. Royal Bank Of Canada reissued a “buy” rating and set a $140.00 price objective on shares of LogMein in a report on Monday, September 4th. KeyCorp raised shares of LogMein from a “sector weight” rating to an “overweight” rating and set a $135.00 price objective on the stock in a report on Friday, July 28th. BidaskClub raised shares of LogMein from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Cowen and Company reissued a “buy” rating and set a $134.00 price objective on shares of LogMein in a report on Friday, September 1st. Finally, Piper Jaffray Companies reissued an “overweight” rating and set a $150.00 price objective on shares of LogMein in a report on Friday, June 23rd. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $131.85.
In other LogMein news, insider Christopher Battles sold 721 shares of the stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total value of $84,919.38. Following the sale, the insider now directly owns 2,036 shares of the company’s stock, valued at $239,800.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Raymond Wagner sold 4,588 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $116.30, for a total value of $533,584.40. Following the completion of the sale, the chief executive officer now directly owns 69,542 shares in the company, valued at $8,087,734.60. The disclosure for this sale can be found here. Insiders sold 69,319 shares of company stock worth $7,922,367 over the last ninety days. 2.50% of the stock is owned by corporate insiders.
Shares of LogMein, Inc. (NASDAQ LOGM) traded up 1.44% during trading on Monday, reaching $112.80. 108,908 shares of the company’s stock traded hands. LogMein, Inc. has a 1-year low of $86.22 and a 1-year high of $123.95. The company’s market capitalization is $5.95 billion. The company has a 50 day moving average of $113.77 and a 200-day moving average of $108.51.
LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. The firm had revenue of $266.95 million for the quarter, compared to analysts’ expectations of $264.95 million. During the same period last year, the business posted $0.49 earnings per share. The firm’s revenue for the quarter was up 220.6% on a year-over-year basis. Equities analysts predict that LogMein, Inc. will post $4.05 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, August 25th. Shareholders of record on Wednesday, August 9th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Monday, August 7th. LogMein’s dividend payout ratio is presently -909.01%.
LogMein Company Profile
LogMeIn, Inc provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Company’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings.
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