53,086 Shares in Gogo Inc. $GOGO Acquired by Ancora Advisors LLC

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 stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 53,086 shares of the technology company's stock, valued at approximately $458,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GOGO. GAMMA Investing LLC increased its holdings 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 buying an additional 3,027 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Gogo in the fourth quarter worth about $43,000. State of Wyoming bought a new stake in Gogo during the fourth quarter worth approximately $57,000. Teza Capital Management LLC purchased a new stake in Gogo during the fourth quarter valued at approximately $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in shares of Gogo in the 1st quarter valued at approximately $111,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Gogo Trading Up 1.9%

NASDAQ:GOGO traded up $0.19 during midday trading on Thursday, hitting $10.36. The stock had a trading volume of 1,929,671 shares, compared to its average volume of 1,544,206. The stock has a 50-day moving average of $13.51 and a 200 day moving average of $10.93. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 259.00 and a beta of 0.78. Gogo Inc. has a one year low of $6.17 and a one year high of $16.82. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 8.10.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $226.04 million during the quarter, compared to analyst estimates of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.Gogo's revenue was up 121.4% on a year-over-year basis. During the same period in the previous year, the company posted $0.01 EPS. 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 year.

Wall Street Analyst Weigh In

GOGO has been the topic of several analyst reports. Morgan Stanley assumed coverage on Gogo in a research report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 target price on the stock. Roth Capital set a $16.50 price objective on shares of Gogo and gave the company a "buy" rating in a research report on Wednesday, June 18th. Finally, Wall Street Zen lowered shares of Gogo from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $14.83.

Insider Activity at Gogo

In other Gogo news, EVP Michael Begler sold 107,136 shares of the company's stock in a transaction 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 sale, the executive vice president owned 14,454 shares in the company, valued at $216,810. This represents a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher John Moore purchased 10,000 shares of the business's stock in a transaction dated Friday, August 8th. The stock was bought at an average price of $12.11 per share, for a total transaction of $121,100.00. Following the completion of the acquisition, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $121,100. This trade represents a ∞ increase in their position. The disclosure for this purchase can be found here. 25.78% of the stock is currently owned by corporate insiders.

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.