Bluestein R H & Co. Has $386,000 Stake in LogMein, Inc. (LOGM)
Bluestein R H & Co. maintained its position in shares of LogMein, Inc. (NASDAQ:LOGM) during the fourth quarter, Holdings Channel reports. The fund owned 4,000 shares of the company’s stock at the end of the fourth quarter. Bluestein R H & Co.’s holdings in LogMein were worth $386,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Victory Capital Management Inc. raised its position in shares of LogMein by 96,200.0% in the third quarter. Victory Capital Management Inc. now owns 1,992,447 shares of the company’s stock worth $180,098,000 after buying an additional 1,990,378 shares in the last quarter. Vanguard Group Inc. raised its position in shares of LogMein by 2.8% in the second quarter. Vanguard Group Inc. now owns 1,956,927 shares of the company’s stock worth $124,129,000 after buying an additional 54,131 shares in the last quarter. BlackRock Fund Advisors raised its position in shares of LogMein by 8.1% in the third quarter. BlackRock Fund Advisors now owns 1,721,914 shares of the company’s stock worth $155,644,000 after buying an additional 128,701 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of LogMein by 1.9% in the third quarter. Bank of New York Mellon Corp now owns 959,848 shares of the company’s stock worth $86,761,000 after buying an additional 17,704 shares in the last quarter. Finally, State Street Corp raised its position in shares of LogMein by 5.7% in the fourth quarter. State Street Corp now owns 539,448 shares of the company’s stock worth $52,086,000 after buying an additional 29,157 shares in the last quarter.
Shares of LogMein, Inc. (NASDAQ:LOGM) remained flat at $95.60 during mid-day trading on Thursday. The company’s stock had a trading volume of 1,018,679 shares. The company’s 50 day moving average price is $101.92 and its 200-day moving average price is $94.82. LogMein, Inc. has a 12-month low of $47.36 and a 12-month high of $110.10. The company has a market capitalization of $2.44 billion, a P/E ratio of 355.39 and a beta of 1.24.
The company also recently announced a special dividend, which was paid on Tuesday, January 31st. Shareholders of record on Monday, January 16th were paid a $0.50 dividend. The ex-dividend date was Wednesday, January 11th.
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A number of research analysts have commented on LOGM shares. TheStreet lowered LogMein from a “buy” rating to a “hold” rating in a report on Tuesday, December 27th. RBC Capital Markets reissued an “outperform” rating and set a $125.00 target price (up from $70.00) on shares of LogMein in a report on Sunday, February 5th. Royal Bank Of Canada reduced their target price on LogMein from $125.00 to $70.00 and set an “outperform” rating on the stock in a report on Friday, February 3rd. Piper Jaffray Companies reissued a “buy” rating and set a $120.00 target price on shares of LogMein in a report on Tuesday, November 22nd. Finally, Barclays PLC increased their target price on LogMein from $110.00 to $120.00 and gave the stock an “overweight” rating in a report on Wednesday, January 25th. Three research analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $97.00.
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 product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iOS, LogMeIn Hamachi, MeldiumTM, Xively, GoToMeeting, GoToWebinar, GoToTraining, Openvoice, Grasshopper, GoToAssist, GoToAssist SeeIt, GoToMyPC and RemotelyAnywhere.
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