Driehaus Capital Management LLC raised its position in LogMeIn Inc (NASDAQ:LOGM) by 57.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 44,417 shares of the software maker’s stock after buying an additional 16,119 shares during the quarter. Driehaus Capital Management LLC’s holdings in LogMeIn were worth $5,086,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Bray Capital Advisors bought a new position in LogMeIn in the 4th quarter valued at about $204,000. C M Bidwell & Associates Ltd. bought a new position in LogMeIn in the 4th quarter valued at about $206,000. Stephens Inc. AR acquired a new stake in shares of LogMeIn in the 3rd quarter valued at approximately $202,000. Turner Investments LLC acquired a new stake in shares of LogMeIn in the 3rd quarter valued at approximately $275,000. Finally, E&G Advisors LP acquired a new stake in shares of LogMeIn in the 4th quarter valued at approximately $309,000. 99.49% of the stock is currently owned by hedge funds and other institutional investors.
Shares of LogMeIn Inc (NASDAQ:LOGM) opened at $126.25 on Friday. LogMeIn Inc has a 1 year low of $92.72 and a 1 year high of $134.80. The company has a market cap of $6,620.00, a P/E ratio of 701.39, a P/E/G ratio of 1.75 and a beta of 1.41.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 28th. Investors of record on Monday, February 12th were given a dividend of $0.30 per share. The ex-dividend date of this dividend was Friday, February 9th. This is an increase from LogMeIn’s previous quarterly dividend of $0.25. This represents a $1.20 annualized dividend and a yield of 0.95%. LogMeIn’s dividend payout ratio (DPR) is currently 666.67%.
A number of equities research analysts have recently weighed in on LOGM shares. BidaskClub upgraded shares of LogMeIn from a “buy” rating to a “strong-buy” rating in a research note on Saturday, February 10th. Zacks Investment Research downgraded shares of LogMeIn from a “hold” rating to a “sell” rating in a research note on Tuesday, February 27th. Needham & Company LLC reduced their price target on shares of LogMeIn from $135.00 to $130.00 and set a “buy” rating on the stock in a research note on Wednesday, December 20th. Finally, Oppenheimer restated a “hold” rating on shares of LogMeIn in a research note on Wednesday, December 20th. Two analysts have rated the stock with a sell rating, one has issued a hold rating and nine have given a buy rating to the company. LogMeIn currently has a consensus rating of “Buy” and an average price target of $137.63.
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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