Dimensional Fund Advisors LP Has $5.56 Million Holdings in Gogo Inc. $GOGO

Dimensional Fund Advisors LP lessened its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 22.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,382,477 shares of the technology company's stock after selling 410,692 shares during the quarter. Dimensional Fund Advisors LP owned about 1.02% of Gogo worth $5,558,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Nantahala Capital Management LLC bought a new position in shares of Gogo in the 4th quarter valued at approximately $31,654,000. Millennium Management LLC lifted its stake in shares of Gogo by 774.0% in the fourth quarter. Millennium Management LLC now owns 2,355,573 shares of the technology company's stock worth $10,977,000 after buying an additional 2,086,042 shares during the last quarter. Balyasny Asset Management L.P. acquired a new stake in shares of Gogo in the fourth quarter worth $5,250,000. Two Sigma Investments LP boosted its holdings in shares of Gogo by 512.6% during the 3rd quarter. Two Sigma Investments LP now owns 1,218,005 shares of the technology company's stock worth $10,463,000 after buying an additional 1,019,195 shares during the period. Finally, Goldman Sachs Group Inc. boosted its holdings in shares of Gogo by 403.5% during the 4th quarter. Goldman Sachs Group Inc. now owns 1,137,602 shares of the technology company's stock worth $5,301,000 after buying an additional 911,657 shares during the period. Institutional investors and hedge funds own 69.60% of the company's stock.

Analyst Ratings Changes

GOGO has been the topic of several recent analyst reports. Roth Capital reiterated a "buy" rating on shares of Gogo in a report on Friday. Zacks Research cut shares of Gogo from a "hold" rating to a "strong sell" rating in a report on Friday, August 7th. Morgan Stanley lowered their price target on Gogo from $8.00 to $7.00 and set an "equal weight" rating on the stock in a research report on Thursday, May 21st. Weiss Ratings upgraded Gogo from a "sell (d+)" rating to a "hold (c-)" rating in a research note on Monday, August 3rd. Finally, Wall Street Zen cut Gogo from a "hold" rating to a "sell" rating in a research report on Saturday. One analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $8.50.

Gogo Stock Down 9.4%

NASDAQ GOGO opened at $2.89 on Wednesday. The company has a debt-to-equity ratio of 6.74, a quick ratio of 1.21 and a current ratio of 1.73. The firm has a 50-day simple moving average of $3.63 and a 200 day simple moving average of $4.13. Gogo Inc. has a twelve month low of $2.86 and a twelve month high of $13.13. The stock has a market cap of $390.84 million, a PE ratio of 289.00 and a beta of 1.13.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The technology company reported $0.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.06 by ($0.03). The firm had revenue of $222.81 million for the quarter, compared to the consensus estimate of $229.35 million. Gogo had a negative net margin of 0.09% and a positive return on equity of 22.55%. The company's revenue was down 1.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.09 earnings per share. On average, research analysts forecast that Gogo Inc. will post 0.14 EPS for the current year.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo's offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo's ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.

Want to see what other hedge funds are holding GOGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gogo Inc. (NASDAQ:GOGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source