LogMeIn Inc (NASDAQ:LOGM) Receives Consensus Recommendation of “Hold” from Analysts
LogMeIn Inc (NASDAQ:LOGM) has been given a consensus rating of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, six have issued a hold recommendation, three have given a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $86.88.
LOGM has been the topic of several research analyst reports. Zacks Investment Research raised shares of LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 target price on the stock in a research report on Wednesday, July 31st. Northland Securities reiterated a “buy” rating on shares of LogMeIn in a research note on Friday, July 26th. BidaskClub downgraded shares of LogMeIn from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Robert W. Baird set a $85.00 price objective on shares of LogMeIn and gave the company a “hold” rating in a report on Friday, July 26th. Finally, Stephens reissued an “equal weight” rating and issued a $77.00 target price on shares of LogMeIn in a research report on Thursday, August 22nd.
NASDAQ LOGM traded up $1.94 during trading on Thursday, hitting $70.00. The company’s stock had a trading volume of 469,969 shares, compared to its average volume of 630,618. The company has a debt-to-equity ratio of 0.10, a current ratio of 0.46 and a quick ratio of 0.46. The company has a market cap of $3.36 billion, a PE ratio of 15.38, a P/E/G ratio of 3.38 and a beta of 1.05. The business’s 50 day simple moving average is $70.65 and its 200-day simple moving average is $76.02. LogMeIn has a fifty-two week low of $65.11 and a fifty-two week high of $96.87.
The company also recently announced a quarterly dividend, which was paid on Friday, August 23rd. Investors of record on Wednesday, August 7th were given a $0.325 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $1.30 dividend on an annualized basis and a yield of 1.86%. LogMeIn’s dividend payout ratio is currently 28.57%.
In other LogMeIn news, Director Steven J. Benson sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $66.96, for a total transaction of $66,960.00. Following the completion of the transaction, the director now directly owns 2,223 shares of the company’s stock, valued at approximately $148,852.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.40% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Treasurer of the State of North Carolina raised its holdings in shares of LogMeIn by 11.2% during the second quarter. Treasurer of the State of North Carolina now owns 24,140 shares of the software maker’s stock worth $1,779,000 after purchasing an additional 2,440 shares during the last quarter. Natixis purchased a new stake in LogMeIn in the second quarter valued at $2,176,000. Cresset Asset Management LLC boosted its holdings in LogMeIn by 270.6% in the second quarter. Cresset Asset Management LLC now owns 2,954 shares of the software maker’s stock valued at $218,000 after purchasing an additional 2,157 shares during the last quarter. Indaba Capital Management L.P. grew its position in LogMeIn by 3.6% during the 2nd quarter. Indaba Capital Management L.P. now owns 319,247 shares of the software maker’s stock worth $23,522,000 after purchasing an additional 10,947 shares during the period. Finally, Maverick Capital Ltd. acquired a new stake in LogMeIn during the 2nd quarter worth about $5,448,000. Institutional investors and hedge funds own 95.61% of the company’s stock.
LogMeIn, Inc provides a portfolio of cloud-based communication and collaboration, identity and access, and customer engagement and support solutions. It enables people to connect with each other worldwide to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses.
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