LogMein, Inc. (LOGM) Shares Sold by King Luther Capital Management Corp
King Luther Capital Management Corp trimmed its position in LogMein, Inc. (NASDAQ:LOGM) by 60.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,278 shares of the software maker’s stock after selling 14,006 shares during the quarter. King Luther Capital Management Corp’s holdings in LogMein were worth $970,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC bought a new stake in shares of LogMein in the 2nd quarter valued at approximately $208,000. Icon Advisers Inc. Co. grew its stake in LogMein by 124.8% during the 2nd quarter. Icon Advisers Inc. Co. now owns 69,700 shares of the software maker’s stock worth $7,284,000 after buying an additional 38,700 shares during the last quarter. Seven Eight Capital LP grew its stake in LogMein by 409.8% during the 2nd quarter. Seven Eight Capital LP now owns 30,479 shares of the software maker’s stock worth $3,185,000 after buying an additional 24,500 shares during the last quarter. Cowen Inc. grew its stake in LogMein by 16.5% during the 2nd quarter. Cowen Inc. now owns 18,050 shares of the software maker’s stock worth $1,886,000 after buying an additional 2,550 shares during the last quarter. Finally, Timpani Capital Management LLC grew its stake in LogMein by 75.2% during the 2nd quarter. Timpani Capital Management LLC now owns 18,690 shares of the software maker’s stock worth $1,953,000 after buying an additional 8,020 shares during the last quarter. Institutional investors and hedge funds own 95.41% of the company’s stock.
LogMein, Inc. (LOGM) opened at 112.90 on Tuesday. The company’s market cap is $5.95 billion. The stock has a 50 day moving average price of $113.67 and a 200 day moving average price of $108.83. LogMein, Inc. has a 1-year low of $86.22 and a 1-year high of $123.95.
LogMein (NASDAQ:LOGM) last posted its earnings results on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.93 by $0.08. The business had revenue of $266.95 million during the quarter, compared to the consensus estimate of $264.95 million. LogMein had a positive return on equity of 5.42% and a negative net margin of 0.41%. LogMein’s revenue was up 220.6% on a year-over-year basis. During the same quarter last year, the company earned $0.49 EPS. Equities analysts forecast 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. Investors of record on Wednesday, August 9th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. LogMein’s dividend payout ratio (DPR) is presently -909.01%.
A number of research analysts recently commented on LOGM shares. Northland Securities restated a “buy” rating on shares of LogMein in a research note on Friday, July 28th. BidaskClub downgraded LogMein from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, June 14th. Zacks Investment Research upgraded LogMein from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a research note on Thursday, August 3rd. Cowen and Company restated a “buy” rating and set a $134.00 price objective on shares of LogMein in a research note on Friday, September 1st. Finally, Royal Bank Of Canada restated a “buy” rating and set a $140.00 price objective on shares of LogMein in a research note on Monday, September 4th. One 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 stock currently has an average rating of “Buy” and an average target price of $131.85.
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In related news, insider Christopher Battles sold 721 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $117.78, for a total transaction of $84,919.38. Following the completion of the sale, the insider now directly owns 2,036 shares of the company’s stock, valued at approximately $239,800.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward K. Herdiech sold 6,354 shares of the firm’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $117.66, for a total value of $747,611.64. Following the sale, the chief financial officer now directly owns 13,695 shares of the company’s stock, valued at $1,611,353.70. The disclosure for this sale can be found here. Insiders have sold a total of 69,319 shares of company stock valued at $7,922,367 in the last 90 days. 2.50% of the stock is owned by corporate insiders.
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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