Cubist Systematic Strategies LLC Reduces Position in Gogo Inc. (NASDAQ:GOGO)

Cubist Systematic Strategies LLC decreased its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 52.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 92,112 shares of the technology company's stock after selling 100,152 shares during the quarter. Cubist Systematic Strategies LLC owned 0.07% of Gogo worth $745,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of GOGO. Van ECK Associates Corp increased its position in shares of Gogo by 256.1% in the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company's stock valued at $1,252,000 after purchasing an additional 111,267 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in Gogo by 8.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,073,039 shares of the technology company's stock worth $8,678,000 after buying an additional 85,412 shares during the last quarter. Amundi boosted its position in shares of Gogo by 142.9% during the 4th quarter. Amundi now owns 26,387 shares of the technology company's stock worth $200,000 after acquiring an additional 15,525 shares in the last quarter. LB Partners LLC increased its holdings in shares of Gogo by 8.6% in the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company's stock valued at $17,969,000 after acquiring an additional 176,092 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Gogo by 357.5% during the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company's stock worth $789,000 after acquiring an additional 85,925 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

Analyst Upgrades and Downgrades

GOGO has been the topic of several recent analyst reports. StockNews.com upgraded shares of Gogo from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Roth Mkm dropped their price objective on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.

Insider Activity at Gogo

In related news, Director Oakleigh Thorne bought 30,173 shares of the company's stock in a transaction on Monday, March 17th. The stock was bought at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This represents a 4.43% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 25.78% of the company's stock.

Gogo Stock Performance

GOGO traded up $0.08 during trading on Tuesday, hitting $12.34. The stock had a trading volume of 161,101 shares, compared to its average volume of 1,274,101. The firm has a market capitalization of $1.63 billion, a P/E ratio of 28.71 and a beta of 0.93. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $12.90. The company's 50-day moving average price is $8.15 and its 200 day moving average price is $7.95.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $230.31 million during the quarter, compared to analysts' expectations of $214.93 million. During the same period in the prior year, the company posted $0.23 earnings per share. The firm's revenue for the quarter was up 120.8% on a year-over-year basis. On average, equities research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Gogo 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.