Magnetar Financial LLC Buys Shares of 2,926 LogMein, Inc. (LOGM)

Magnetar Financial LLC bought a new position in LogMein, Inc. (NASDAQ:LOGM) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,926 shares of the software maker’s stock, valued at approximately $322,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Reliance Trust Co. of Delaware acquired a new position in shares of LogMein during the 3rd quarter valued at about $201,000. Stephens Inc. AR acquired a new position in shares of LogMein during the 3rd quarter valued at about $202,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of LogMein during the 2nd quarter valued at about $208,000. Trexquant Investment LP acquired a new position in shares of LogMein during the 2nd quarter valued at about $209,000. Finally, BB&T Securities LLC acquired a new position in shares of LogMein during the 2nd quarter valued at about $210,000. 99.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of LogMein, Inc. (LOGM) opened at $119.15 on Friday. LogMein, Inc. has a 52-week low of $90.35 and a 52-week high of $129.51. The company has a market capitalization of $6,260.00, a P/E ratio of 43.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.28.

LogMein (NASDAQ:LOGM) last announced its quarterly earnings data on Thursday, October 26th. The software maker reported $1.16 EPS for the quarter, topping the Zacks’ consensus estimate of $1.11 by $0.05. The company had revenue of $269.30 million during the quarter, compared to the consensus estimate of $270.56 million. LogMein had a return on equity of 5.50% and a net margin of 1.01%. The company’s quarterly revenue was up 216.5% on a year-over-year basis. During the same quarter last year, the company earned $0.56 EPS. equities analysts expect that LogMein, Inc. will post 3.28 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, November 24th. Investors of record on Wednesday, November 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, November 7th. This represents a $1.00 annualized dividend and a dividend yield of 0.84%. LogMein’s dividend payout ratio (DPR) is presently 909.09%.

A number of analysts have issued reports on the company. Zacks Investment Research lowered LogMein from a “buy” rating to a “hold” rating in a report on Thursday, September 28th. Robert W. Baird reaffirmed a “hold” rating and issued a $130.00 target price on shares of LogMein in a report on Friday, September 1st. Barclays raised their target price on LogMein from $132.00 to $142.00 and gave the company an “overweight” rating in a report on Friday, October 27th. Cowen reaffirmed a “buy” rating and issued a $134.00 target price on shares of LogMein in a report on Friday, September 1st. Finally, Piper Jaffray Companies reaffirmed a “buy” rating and issued a $170.00 target price on shares of LogMein in a report on Tuesday, October 24th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $135.96.

In related news, insider Christopher Battles sold 1,136 shares of the firm’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $119.43, for a total transaction of $135,672.48. Following the completion of the transaction, the insider now owns 2,760 shares in the company, valued at approximately $329,626.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.50% of the stock is owned by company insiders.

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About LogMein

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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Institutional Ownership by Quarter for LogMein (NASDAQ:LOGM)

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