It is currently trading at $121.05 which is just a bit higher than $114.95, the 50 day moving average and marginally over the 200 day moving average of $112.58. The 50 day moving average moved up $6.10 and the 200 day average went up by +7.52%. Trading volume for LogMeIn, Inc. was 826K in the last trading session. Trading volume was up 41.44% over the stocks average daily volume.
Investors are a little more bearish on the company lately if you evaluate the change in short interest. The firm had a rise in short interest of 1.45% as of October 13, 2017 from the last reporting period. Short shares increased from 3,007,913 to 3,051,637 over that timeframe. Days to cover decreased from 8.0 to 7.0 and the percentage of shorted shares was 0.06% on October 13.
LogMeIn, Inc. (NASDAQ:LOGM) has been the object of insider selling activity recently. Steven J. Benson, Director sold $337,098 worth of shares at an average price of $111.77 on Wed the 13th. Benson now owns $111,770 of stock as recorded in a recent Form 4 SEC filing. Director Michael K. Simon disclosed the sale of 20,000 shares of LOGM stock. The shares were sold on September 11th for an average price of $112.12. Simon now owns $84,255,601 of the stock per the Form 4 SEC filing.
Here are a few substantial investment firms who have updated their positions. Regions Financial Corp reduced its position by selling 80 shares a decrease of 8.3% from 06/30/2017 to 09/30/2017. Regions Financial Corp now controls 879 shares valued at $97,000. The value of the position overall is down by 3.0%. As of the end of the quarter Parkside Financial Bank & Trust had acquired a total of 21 shares growing its holdings by 16.8%. The value of the company’s investment in LogMeIn, Inc. increased from $13,000 to $16,000 increasing 23.1% quarter to quarter.
Raymond James Financial Services Advisors, Inc. expanded its investment by buying 4,381 shares an increase of 101.2%. Raymond James Financial Services Advisors, Inc. controls 8,712 shares worth $959,000. The total value of its holdings increased 111.7%. Aperio Group, LLC augmented its stake by buying 3,454 shares an increase of 10.5% as of 09/30/2017. Aperio Group, LLC currently owns 36,343 shares with a value of $4,000,000. The value of the position overall is up by 16.4%.
On July 28 the company was rated “Overweight” according to a KeyBanc report which is up from the previous “Overweight” rating. On October 3 the stock rating was upgraded to “Outperform” from “Neutral” by Baird.
On October 27 Barclays kept the stock rating at “Overweight” but moved up the price target to $142.00 from $105.00.
The company is so far trading up since yesterday’s close of $121.05. The company recently declared a dividend for shareholders that will be paid on Fri Nov 24, 2017. The dividend will be $0.250 per share for the quarter which comes to $1.00 on an annualized basis. This dividend represents a yield of $0.82. The ex-dividend date is Monday the 7th of August 2017.
As of the last earnings report the EPS was $-0.08 and is projected to be $4.21 for the current year with 52,728,000 shares currently outstanding. Next quarter’s EPS is forecasted at $1.12 with next year’s EPS anticipated to be $4.93.
LogMeIn, Inc., launched on August 3, 2004, provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. The Business’s product line includes AppGuru, BoldChat, Cubby, join.me, LastPass, LogMeIn Pro, LogMeIn Central, LogMeIn Rescue, LogMeIn Rescue+Mobile, LogMeIn Backup, LogMeIn for iPhone Operating System (iOS), LogMeIn Hamachi, Meldium, Xively and RemotelyAnywhere. The Business’s core cloud-based services are categorized into four business lines: Communications and Collaboration; Engagement and Support; Identity and Access, and Additional Service Offerings. Its services are delivered through a common cloud connectivity and data platform called Gravity, which consists of software applications, customized databases and Web servers..