Migdal Insurance & Financial Holdings Ltd. bought a new stake in LogMeIn Inc (NASDAQ:LOGM) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 4,729 shares of the software maker’s stock, valued at approximately $421,000.
A number of other large investors have also recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its holdings in shares of LogMeIn by 2.4% in the first quarter. Principal Financial Group Inc. now owns 229,100 shares of the software maker’s stock worth $26,472,000 after purchasing an additional 5,341 shares during the period. Bank of Montreal Can bought a new position in LogMeIn in the second quarter valued at $1,258,000. Amalgamated Bank increased its stake in LogMeIn by 5.5% in the second quarter. Amalgamated Bank now owns 11,774 shares of the software maker’s stock valued at $1,216,000 after acquiring an additional 615 shares during the last quarter. Nisa Investment Advisors LLC bought a new position in LogMeIn in the second quarter valued at $2,496,000. Finally, Aurora Investment Counsel bought a new position in LogMeIn in the second quarter valued at $1,477,000. Institutional investors own 90.99% of the company’s stock.
NASDAQ LOGM opened at $85.44 on Friday. The company has a quick ratio of 0.62, a current ratio of 0.62 and a debt-to-equity ratio of 0.07. LogMeIn Inc has a 12-month low of $74.87 and a 12-month high of $134.80. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 25.50, a price-to-earnings-growth ratio of 1.11 and a beta of 1.06.
The firm also recently declared a quarterly dividend, which will be paid on Friday, November 30th. Shareholders of record on Wednesday, November 14th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, November 13th. This represents a $1.20 annualized dividend and a yield of 1.40%. LogMeIn’s payout ratio is 35.82%.
In other LogMeIn news, Director Michael K. Simon sold 20,000 shares of the company’s stock in a transaction dated Monday, September 10th. The shares were sold at an average price of $84.61, for a total transaction of $1,692,200.00. Following the completion of the sale, the director now directly owns 636,966 shares in the company, valued at $53,893,693.26. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 60,000 shares of company stock valued at $5,058,800. Company insiders own 2.50% of the company’s stock.
A number of research firms recently commented on LOGM. BidaskClub raised LogMeIn from a “hold” rating to a “buy” rating in a research note on Thursday. Barclays increased their target price on LogMeIn from $112.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday, October 26th. Royal Bank of Canada cut LogMeIn from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $140.00 to $90.00 in a research note on Friday, July 27th. Piper Jaffray Companies cut LogMeIn from an “overweight” rating to a “neutral” rating and reduced their target price for the company from $135.00 to $95.00 in a research note on Friday, July 27th. Finally, JPMorgan Chase & Co. reissued a “neutral” rating and issued a $96.00 target price (down previously from $145.00) on shares of LogMeIn in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $110.10.
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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