LogMeIn Inc (LOGM): Are Hedge Funds Right About This Stock?

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As aggregate interest increased, some big names have been driving this bullishness. EMS Capital created the largest position in LogMeIn Inc (NASDAQ:LOGM). EMS Capital had $24.4 million invested in the company at the end of the quarter. Bruce Garelick’s Garelick Capital Partners also made a $12.9 million investment in the stock during the quarter. The following funds were also among the new LOGM investors: Dennis Puri and Oliver Keller’s Hunt Lane Capital, Dmitry Balyasny’s Balyasny Asset Management, and D. E. Shaw’s D E Shaw.

Let’s check out hedge fund activity in other stocks similar to LogMeIn Inc (NASDAQ:LOGM). We will take a look at Kemper Corporation (NYSE:KMPR), Radius Health Inc (NASDAQ:RDUS), Enerplus Corp (USA) (NYSE:ERF), and Forum Energy Technologies Inc (NYSE:FET). All of these stocks’ market caps resemble LOGM’s market cap.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
KMPR 5 3831 -1
RDUS 24 555048 6
ERF 21 89116 7
FET 16 79616 3

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $182 million. That figure was $301 million in LOGM’s case. Radius Health Inc (NASDAQ:RDUS) is the most popular stock in this table. On the other hand Kemper Corporation (NYSE:KMPR) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks LogMeIn Inc (NASDAQ:LOGM) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

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Disclosure: None





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