American Century Companies Inc. Grows Stock Position in Gogo Inc. $GOGO

American Century Companies Inc. raised its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 18.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 174,630 shares of the technology company's stock after acquiring an additional 26,873 shares during the quarter. American Century Companies Inc. owned approximately 0.13% of Gogo worth $1,505,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in Gogo by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock valued at $298,000 after acquiring an additional 1,273 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Gogo by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock worth $1,807,000 after purchasing an additional 1,373 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Gogo by 532.9% in the 1st quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock worth $31,000 after purchasing an additional 3,027 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position 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 worth $502,000 after purchasing an additional 5,078 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in shares of Gogo in the 4th quarter worth $43,000. Institutional investors own 69.60% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GOGO. Wall Street Zen cut Gogo from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Roth Capital set a $16.50 price objective on Gogo and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Finally, Morgan Stanley began coverage on Gogo in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $15.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $14.83.

Insider Transactions at Gogo

In other Gogo news, EVP Michael Begler sold 107,136 shares of Gogo stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $15.00, for a total transaction of $1,607,040.00. Following the completion of the transaction, the executive vice president owned 14,454 shares in the company, valued at approximately $216,810. This trade represents a 88.11% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Christopher John Moore acquired 10,000 shares of Gogo stock in a transaction on Friday, August 8th. The shares were bought at an average price of $12.11 per share, with a total value of $121,100.00. Following the purchase, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $121,100. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 25.78% of the company's stock.

Gogo Stock Performance

GOGO traded down $0.01 on Friday, reaching $10.72. 1,061,923 shares of the stock were exchanged, compared to its average volume of 1,711,145. The company's 50-day moving average price is $13.88 and its 200 day moving average price is $10.86. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $16.82. The company has a debt-to-equity ratio of 8.10, a current ratio of 1.71 and a quick ratio of 1.32. The firm has a market capitalization of $1.43 billion, a PE ratio of 268.00 and a beta of 0.78.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The technology company reported $0.13 EPS for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The company had revenue of $226.04 million during the quarter, compared to analysts' expectations of $220.12 million. During the same quarter in the previous year, the firm posted $0.01 EPS. The firm's revenue was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. As a group, sell-side analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

About Gogo

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.