LogMeIn (NASDAQ:LOGM) Reaches New 52-Week Low at $67.63

Share on StockTwits

LogMeIn Inc (NASDAQ:LOGM) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $67.63 and last traded at $67.63, with a volume of 5915 shares changing hands. The stock had previously closed at $68.64.

Several equities analysts have issued reports on the company. TheStreet lowered LogMeIn from a “b” rating to a “c” rating in a research note on Friday, April 26th. Zacks Investment Research raised LogMeIn from a “hold” rating to a “strong-buy” rating and set a $81.00 price target on the stock in a research note on Wednesday, July 31st. Robert W. Baird set a $85.00 price target on LogMeIn and gave the company a “hold” rating in a research note on Friday, July 26th. Northland Securities reissued a “buy” rating on shares of LogMeIn in a research note on Friday, July 26th. Finally, BidaskClub lowered LogMeIn from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $93.67.

The company has a quick ratio of 0.46, a current ratio of 0.46 and a debt-to-equity ratio of 0.10. The firm has a 50-day moving average of $74.39. The stock has a market capitalization of $3.53 billion, a P/E ratio of 14.97, a price-to-earnings-growth ratio of 3.53 and a beta of 1.01.

LogMeIn (NASDAQ:LOGM) last issued its earnings results on Thursday, July 25th. The software maker reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.85 by $0.05. LogMeIn had a return on equity of 7.44% and a net margin of 1.82%. The company had revenue of $313.10 million for the quarter, compared to analyst estimates of $310.98 million. During the same period in the prior year, the firm earned $1.32 earnings per share. LogMeIn’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts predict that LogMeIn Inc will post 4.02 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, August 23rd. Stockholders of record on Wednesday, August 7th will be given a dividend of $0.325 per share. This represents a $1.30 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, August 6th. LogMeIn’s payout ratio is 28.57%.

In other news, Director Michael K. Simon sold 22,500 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $75.79, for a total transaction of $1,705,275.00. Following the transaction, the director now directly owns 504,753 shares of the company’s stock, valued at $38,255,229.87. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is owned by corporate insiders.

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its holdings in LogMeIn by 7.9% during the first quarter. BlackRock Inc. now owns 4,906,972 shares of the software maker’s stock worth $393,048,000 after buying an additional 359,569 shares in the last quarter. First Trust Advisors LP grew its holdings in LogMeIn by 21.5% during the second quarter. First Trust Advisors LP now owns 2,057,435 shares of the software maker’s stock worth $151,592,000 after buying an additional 363,552 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in LogMeIn by 2.2% during the first quarter. Champlain Investment Partners LLC now owns 1,519,600 shares of the software maker’s stock worth $121,720,000 after buying an additional 33,365 shares in the last quarter. Clearbridge Investments LLC grew its holdings in LogMeIn by 10.5% during the first quarter. Clearbridge Investments LLC now owns 1,082,778 shares of the software maker’s stock worth $86,731,000 after buying an additional 103,153 shares in the last quarter. Finally, Man Group plc grew its holdings in LogMeIn by 331.5% during the second quarter. Man Group plc now owns 878,903 shares of the software maker’s stock worth $64,757,000 after buying an additional 675,205 shares in the last quarter. Institutional investors and hedge funds own 98.12% of the company’s stock.

LogMeIn Company Profile (NASDAQ:LOGM)

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.

Read More: How to track put option volume

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.