Champlain Investment Partners Lowers stake in LogMeIn Inc (LOGM)

LogMeIn Inc (LOGM) : Champlain Investment Partners reduced its stake in LogMeIn Inc by 10.49% during the most recent quarter end. The investment management company now holds a total of 1,146,185 shares of LogMeIn Inc which is valued at $95,030,198 after selling 134,255 shares in LogMeIn Inc , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.LogMeIn Inc makes up approximately 1.56% of Champlain Investment Partners’s portfolio.

Other Hedge Funds, Including , Marshall Wace Llp reduced its stake in LOGM by selling 59,034 shares or 21.47% in the most recent quarter. The Hedge Fund company now holds 215,937 shares of LOGM which is valued at $17,903,337. LogMeIn Inc makes up approx 0.15% of Marshall Wace Llp’s portfolio. Quadrature Capital Ltd sold out all of its stake in LOGM during the most recent quarter. The investment firm sold 9,858 shares of LOGM which is valued $817,327.First Mercantile Trust Co boosted its stake in LOGM in the latest quarter, The investment management firm added 142 additional shares and now holds a total of 5,300 shares of LogMeIn Inc which is valued at $439,423. LogMeIn Inc makes up approx 0.05% of First Mercantile Trust Co’s portfolio. Dynamic Technology Lab Private Ltd sold out all of its stake in LOGM during the most recent quarter. The investment firm sold 18,691 shares of LOGM which is valued $1,549,671.Great West Life Assurance Co Can boosted its stake in LOGM in the latest quarter, The investment management firm added 30,234 additional shares and now holds a total of 32,413 shares of LogMeIn Inc which is valued at $2,723,989. LogMeIn Inc makes up approx 0.01% of Great West Life Assurance Co Can’s portfolio.

LogMeIn Inc opened for trading at $82.52 and hit $83.06 on the upside on Monday, eventually ending the session at $83, with a gain of 0.65% or 0.54 points. The heightened volatility saw the trading volume jump to 97,953 shares. Company has a market cap of $2,100 M.

On the company’s financial health, LogMeIn Inc reported $0.35 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.30. The company had revenue of $79.70 million for the quarter, compared to analysts expectations of $77.76 million. The company’s revenue was up 30.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.33 EPS.

Many Wall Street Analysts have commented on LogMeIn Inc. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Underweight”, Firm has raised the Price Target to $ 82 from a previous price target of $57 .Company shares were Reiterated by Needham on Jul 27, 2016 to “Strong Buy”, Firm has raised the Price Target to $ 98 from a previous price target of $81 .LogMeIn Inc was Upgraded by JP Morgan to ” Overweight” on Jul 27, 2016.

LogMeIn Inc. provides a portfolio of cloud-based service offerings. The Company’s services range from free downloadable mobile and Web-based collaboration apps to enterprise grade professional helpdesk solutions to a cloud-based platform for the Internet of Things all of which are accessible with an Internet connection. The Company’s services are delivered via the cloud as hosted services. The Company offers both free and fee based or premium services. The Company’s core cloud-based services are categorized into four business lines: Collaboration Service and Support Connected Products and Additional Service Offerings. Its collaboration business consists of services for users to interact with and access the computers devices data and people that make up their digital world. join.me join.me pro and join.me enterprise are its free and premium browser-based online meeting and screen sharing services that give users the ability to host an online meeting with other people.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *