Arcadia Investment Management Corp MI Boosts Position in LogMein, Inc. (LOGM)
Arcadia Investment Management Corp MI increased its stake in shares of LogMein, Inc. (NASDAQ:LOGM) by 26.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,128 shares of the software maker’s stock after buying an additional 1,684 shares during the period. Arcadia Investment Management Corp MI’s holdings in LogMein were worth $849,000 at the end of the most recent quarter.
Other large investors also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in LogMein by 97,044.4% in the first quarter. BlackRock Inc. now owns 5,531,400 shares of the software maker’s stock valued at $539,312,000 after buying an additional 5,525,706 shares during the period. Vanguard Group Inc. boosted its stake in LogMein by 112.7% in the first quarter. Vanguard Group Inc. now owns 4,446,416 shares of the software maker’s stock valued at $433,525,000 after buying an additional 2,356,291 shares during the period. FMR LLC boosted its stake in LogMein by 129.0% in the first quarter. FMR LLC now owns 2,903,102 shares of the software maker’s stock valued at $283,052,000 after buying an additional 1,635,216 shares during the period. Clearbridge Investments LLC bought a new stake in LogMein during the first quarter valued at about $141,745,000. Finally, Elliott Management Corp bought a new stake in LogMein during the first quarter valued at about $118,804,000. 97.39% of the stock is owned by institutional investors.
Shares of LogMein, Inc. (LOGM) opened at 117.05 on Tuesday. The company’s market cap is $6.17 billion. LogMein, Inc. has a 12-month low of $79.63 and a 12-month high of $123.95. The stock has a 50 day moving average of $111.39 and a 200 day moving average of $106.42.
LogMein (NASDAQ:LOGM) last posted its quarterly earnings data on Thursday, July 27th. The software maker reported $1.01 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.08. LogMein had a negative net margin of 0.41% and a positive return on equity of 5.42%. The business had revenue of $266.95 million during the quarter, compared to analyst estimates of $264.95 million. During the same quarter last year, the firm posted $0.49 earnings per share. The business’s revenue for the quarter was up 220.6% compared to the same quarter last year. Analysts forecast that LogMein, Inc. will post $4.06 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 25th. Stockholders of record on Wednesday, August 9th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.85%. The ex-dividend date is Monday, August 7th. LogMein’s payout ratio is -909.01%.
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Several equities research analysts have issued reports on LOGM shares. TheStreet raised shares of LogMein from a “c” rating to a “b-” rating in a research report on Wednesday, April 19th. Cowen and Company boosted their price objective on shares of LogMein from $115.00 to $130.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Vetr lowered shares of LogMein from a “hold” rating to a “sell” rating and set a $101.67 price target for the company. in a report on Wednesday, April 26th. BidaskClub upgraded shares of LogMein from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Finally, Piper Jaffray Companies restated an “overweight” rating and issued a $150.00 price target on shares of LogMein in a report on Friday, June 23rd. One equities research 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 has a consensus rating of “Buy” and a consensus price target of $127.74.
In related news, CFO Edward K. Herdiech sold 8,824 shares of LogMein stock in a transaction that occurred on Tuesday, May 23rd. The shares were sold at an average price of $111.16, for a total value of $980,875.84. Following the completion of the transaction, the chief financial officer now owns 4,891 shares in the company, valued at $543,683.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP James Lok sold 960 shares of LogMein stock in a transaction that occurred on Tuesday, May 23rd. The stock was sold at an average price of $111.00, for a total transaction of $106,560.00. Following the completion of the transaction, the senior vice president now owns 2,109 shares of the company’s stock, valued at approximately $234,099. The disclosure for this sale can be found here. In the last three months, insiders sold 116,860 shares of company stock valued at $13,258,245. Insiders own 2.50% of the company’s stock.
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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