Ancora Advisors LLC Invests $458,000 in Gogo Inc. $GOGO

Key Points

• Ancora Advisors LLC invested $458,000 in Gogo Inc., purchasing 53,086 shares during the first quarter, indicating strong institutional interest in the company.
• Gogo's recent earnings report showed a 121.4% year-over-year revenue increase to $226.04 million, with an EPS of $0.13 that beat expectations.
• Analysts have set a consensus target price of $14.83 for Gogo, with ratings ranging from "buy" to "hold," reflecting mixed investor sentiment.

Ancora Advisors LLC purchased a new position in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 53,086 shares of the technology company's stock, valued at approximately $458,000.

A number of other large investors have also modified their holdings of the business. GAMMA Investing LLC boosted its position in Gogo by 532.9% in the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock valued at $31,000 after buying an additional 3,027 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Gogo in the fourth quarter valued at approximately $43,000. State of Wyoming purchased a new stake in Gogo in the fourth quarter valued at approximately $57,000. Teza Capital Management LLC purchased a new stake in Gogo in the fourth quarter valued at approximately $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gogo in the first quarter valued at approximately $111,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Gogo Trading Down 0.1%

Gogo stock opened at $10.72 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $16.82. The stock's 50 day simple moving average is $13.88 and its two-hundred day simple moving average is $10.86. The firm has a market cap of $1.43 billion, a PE ratio of 268.00 and a beta of 0.78.

Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings data on Thursday, August 7th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate of $0.12 by $0.01. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The business had revenue of $226.04 million for the quarter, compared to analyst estimates of $220.12 million. During the same quarter in the prior year, the firm posted $0.01 EPS. The business's quarterly revenue was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. Analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

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

Insider Activity at Gogo

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

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.

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