Aquatic Capital Management LLC Takes $278,000 Position in Gogo Inc. (NASDAQ:GOGO)

Aquatic Capital Management LLC bought a new position in Gogo Inc. (NASDAQ:GOGO - Free Report) in the fourth quarter, according to the company in its most recent filing with the SEC. The fund bought 34,368 shares of the technology company's stock, valued at approximately $278,000.

A number of other hedge funds have also bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its holdings in shares of Gogo by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after purchasing an additional 5,078 shares in the last quarter. Principal Financial Group Inc. increased its position in Gogo by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company's stock valued at $2,329,000 after buying an additional 5,420 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Gogo by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 36,216 shares of the technology company's stock worth $293,000 after acquiring an additional 5,613 shares in the last quarter. Brighton Jones LLC boosted its stake in Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock worth $138,000 after purchasing an additional 6,978 shares in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Gogo by 25.4% during the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company's stock worth $286,000 after buying an additional 7,156 shares during the period. Institutional investors own 69.60% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Roth Mkm reduced their price objective on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 17th. StockNews.com downgraded shares of Gogo from a "hold" rating to a "sell" rating in a report on Monday, March 17th.

Gogo Stock Performance

Gogo stock traded up $0.04 during midday trading on Tuesday, hitting $7.54. 843,982 shares of the company were exchanged, compared to its average volume of 1,191,516. The business has a fifty day simple moving average of $7.42 and a two-hundred day simple moving average of $7.69. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The firm has a market capitalization of $996.47 million, a PE ratio of 17.52 and a beta of 0.93. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.00.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating the consensus estimate of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $137.80 million during the quarter, compared to analyst estimates of $97.80 million. During the same period in the previous year, the firm earned $0.11 EPS. The business's quarterly revenue was up 40.9% on a year-over-year basis. On average, sell-side analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Activity at Gogo

In related news, Director Oakleigh Thorne purchased 30,173 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now owns 711,341 shares in the company, valued at $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.00% of the stock is owned by company insiders.

Gogo Company Profile

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.