LogMeIn Inc (NASDAQ:LOGM) Position Lowered by Brookstone Capital Management

Brookstone Capital Management decreased its stake in shares of LogMeIn Inc (NASDAQ:LOGM) by 55.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,070 shares of the software maker’s stock after selling 3,772 shares during the period. Brookstone Capital Management’s holdings in LogMeIn were worth $218,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Stonebridge Capital Advisors LLC bought a new position in LogMeIn in the second quarter worth about $33,000. Cerebellum GP LLC lifted its holdings in LogMeIn by 81.8% in the third quarter. Cerebellum GP LLC now owns 831 shares of the software maker’s stock worth $95,000 after acquiring an additional 374 shares during the last quarter. CSat Investment Advisory L.P. bought a new position in LogMeIn in the second quarter worth about $100,000. Cresset Asset Management LLC lifted 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 worth $218,000 after acquiring an additional 2,157 shares during the last quarter. Finally, Shepherd Kaplan Krochuk LLC bought a new position in LogMeIn in the second quarter worth about $221,000. 95.59% of the stock is currently owned by institutional investors and hedge funds.

In other LogMeIn news, Director Peter John Sacripanti sold 7,124 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $70.00, for a total value of $498,680.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 sale, the director now owns 2,223 shares in the company, valued at approximately $148,852.08. The disclosure for this sale can be found here. 2.40% of the stock is currently owned by company insiders.

A number of equities analysts have issued reports on LOGM shares. Robert W. Baird set a $85.00 target price on shares of LogMeIn and gave the stock a “hold” rating in a report on Friday, July 26th. Berenberg Bank started coverage on shares of LogMeIn in a report on Thursday, October 10th. They issued a “buy” rating and a $91.00 target price on the stock. ValuEngine raised shares of LogMeIn from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. 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 report on Wednesday, July 31st. Finally, Northland Securities reissued a “buy” rating on shares of LogMeIn in a report on Friday, July 26th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $91.22.

Shares of NASDAQ:LOGM opened at $67.47 on Wednesday. The firm’s 50 day moving average is $68.87 and its two-hundred day moving average is $73.60. LogMeIn Inc has a 52 week low of $65.04 and a 52 week high of $96.87. The firm has a market capitalization of $3.37 billion, a P/E ratio of 14.83, a PEG ratio of 3.37 and a beta of 1.09. The company has a current ratio of 0.46, a quick ratio of 0.46 and a debt-to-equity ratio of 0.10.

LogMeIn (NASDAQ:LOGM) last announced its quarterly earnings results on Thursday, July 25th. The software maker reported $0.90 EPS for the quarter, beating the consensus estimate of $0.85 by $0.05. LogMeIn had a net margin of 1.82% and a return on equity of 7.44%. The company had revenue of $313.10 million for the quarter, compared to analyst estimates of $310.98 million. During the same quarter last year, the business earned $1.32 earnings per share. LogMeIn’s revenue was up 2.4% compared to the same quarter last year. Analysts predict that LogMeIn Inc will post 4.02 EPS for the current year.

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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Institutional Ownership by Quarter for LogMeIn (NASDAQ:LOGM)

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