Asset Management One Co. Ltd. Purchases New Position in Gogo Inc. (NASDAQ:GOGO)

Asset Management One Co. Ltd. acquired a new stake in Gogo Inc. (NASDAQ:GOGO - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 21,872 shares of the technology company's stock, valued at approximately $189,000.

A number of other large investors have also recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Gogo by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock worth $298,000 after acquiring an additional 1,273 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Gogo by 0.6% during the fourth 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 during the period. GAMMA Investing LLC boosted 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 valued at $31,000 after buying an additional 3,027 shares during the period. Price T Rowe Associates Inc. MD grew its position in shares of Gogo by 8.9% during 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 buying an additional 5,078 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Gogo by 1.9% in the fourth 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 during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Roth Capital set a $16.50 price target on Gogo and gave the company a "buy" rating in a report on Wednesday, June 18th. Wall Street Zen upgraded shares of Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Finally, Roth Mkm reduced their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 17th. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $12.63.

Gogo Trading Up 0.2%

GOGO traded up $0.03 during trading on Thursday, reaching $15.51. The company had a trading volume of 1,134,189 shares, compared to its average volume of 1,444,359. The firm's 50-day simple moving average is $11.38 and its 200 day simple moving average is $8.97. The company has a debt-to-equity ratio of 10.03, a quick ratio of 1.36 and a current ratio of 1.84. The company has a market cap of $2.05 billion, a price-to-earnings ratio of -387.63 and a beta of 1.06. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $15.77.

Gogo (NASDAQ:GOGO - Get Free Report) last released its earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share for the quarter, topping the consensus estimate of $0.05 by $0.13. The business had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. Gogo had a negative net margin of 0.82% and a positive return on equity of 95.01%. The firm's quarterly revenue was up 120.8% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. Equities research analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In other Gogo news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the business's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total value of $93,500,000.00. Following the completion of the sale, the director directly owned 4,174,482 shares of the company's stock, valued at $45,919,302. The trade was a 67.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Michael Begler sold 107,136 shares of the company's stock in a transaction on Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total transaction of $1,607,040.00. Following the transaction, the executive vice president owned 14,454 shares of the company's stock, valued at approximately $216,810. The trade was a 88.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. 25.78% of the stock is 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.