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.
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.
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.
Want to see what other hedge funds are holding LOGM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for LogMein, Inc. (NASDAQ:LOGM).
Receive News & Ratings for LogMein Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for LogMein and related companies with MarketBeat.com's FREE daily email newsletter.