BidaskClub Lowers LogMeIn (NASDAQ:LOGM) to Sell

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BidaskClub downgraded shares of LogMeIn (NASDAQ:LOGM) from a hold rating to a sell rating in a research report report published on Tuesday, July 30th, BidAskClub reports.

LOGM has been the topic of several other reports. Northland Securities reaffirmed a buy rating on shares of LogMeIn in a research report on Friday, July 26th. ValuEngine lowered LogMeIn from a hold rating to a sell rating in a report on Monday, April 1st. Barclays lowered LogMeIn from an overweight rating to an underweight rating and lowered their price objective for the company from $104.00 to $74.00 in a report on Friday, April 12th. Zacks Investment Research lowered LogMeIn from a buy rating to a hold rating in a report on Tuesday, May 21st. Finally, Robert W. Baird set a $85.00 target price on LogMeIn and gave the company a hold rating in a research note on Friday, July 26th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The company has a consensus rating of Hold and an average price target of $93.67.

Shares of NASDAQ LOGM opened at $67.60 on Tuesday. The company has a market cap of $3.53 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 3.53 and a beta of 1.01. LogMeIn has a 12 month low of $67.12 and a 12 month high of $96.87. 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 business has a fifty day simple moving average of $74.30 and a 200-day simple moving average of $78.73.

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

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

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

A number of hedge funds have recently added to or reduced their stakes in the stock. Stonebridge Capital Advisors LLC acquired a new stake in shares of LogMeIn in the 2nd quarter valued at $33,000. Icon Wealth Partners LLC acquired a new stake in shares of LogMeIn in the 1st quarter valued at $39,000. Flagship Harbor Advisors LLC increased its stake in shares of LogMeIn by 59.3% in the 1st quarter. Flagship Harbor Advisors LLC now owns 567 shares of the software maker’s stock valued at $45,000 after buying an additional 211 shares during the period. Cullen Frost Bankers Inc. bought a new position in shares of LogMeIn in the 1st quarter worth $91,000. Finally, CSat Investment Advisory L.P. bought a new position in shares of LogMeIn in the 2nd quarter worth $100,000. 98.12% of the stock is owned by hedge funds and other institutional investors.

About LogMeIn

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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Analyst Recommendations for LogMeIn (NASDAQ:LOGM)

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