Gogo Inc. $GOGO Shares Purchased by Nantahala Capital Management LLC

Key Points

• Nantahala Capital Management LLC has increased its stake in Gogo Inc. by 38.5%, now holding 3,564,797 shares, making Gogo its 10th largest position.
• Gogo reported a 121.4% increase in revenue in its latest quarter, surpassing analysts' expectations, with an earnings per share (EPS) of $0.13, beating the consensus estimate.
• Insider transactions include CEO Christopher John Moore purchasing 10,000 shares at an average price of $12.11, while EVP Michael Begler sold 107,136 shares, reducing his holdings by 88.11%.

Nantahala Capital Management LLC increased its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 38.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,564,797 shares of the technology company's stock after purchasing an additional 990,155 shares during the period. Gogo accounts for about 1.2% of Nantahala Capital Management LLC's holdings, making the stock its 10th biggest position. Nantahala Capital Management LLC owned about 2.70% of Gogo worth $30,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently modified their holdings of the stock. MetLife Investment Management LLC raised its position in shares of Gogo by 6.9% during the 1st quarter. MetLife Investment Management LLC now owns 38,698 shares of the technology company's stock worth $334,000 after purchasing an additional 2,482 shares during the last quarter. AlphaQuest LLC raised its position in shares of Gogo by 105.1% during the 1st quarter. AlphaQuest LLC now owns 40,635 shares of the technology company's stock worth $350,000 after purchasing an additional 20,818 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of Gogo by 18.2% during the first quarter. American Century Companies Inc. now owns 174,630 shares of the technology company's stock worth $1,505,000 after buying an additional 26,873 shares in the last quarter. Public Sector Pension Investment Board grew its holdings in shares of Gogo by 27.3% during the first quarter. Public Sector Pension Investment Board now owns 187,518 shares of the technology company's stock worth $1,616,000 after buying an additional 40,233 shares in the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Gogo during the first quarter worth about $1,927,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts have recently commented on GOGO shares. Wall Street Zen downgraded shares of Gogo from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Roth Capital set a $16.50 price target on Gogo and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Morgan Stanley began coverage on Gogo in a report on Thursday, August 14th. They issued an "equal weight" rating and a $15.00 price target for the company. Two 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 stock has a consensus rating of "Moderate Buy" and an average price target of $14.83.

Gogo Trading Down 0.1%

GOGO traded down $0.01 during trading on Friday, hitting $10.72. The company's stock had a trading volume of 1,061,923 shares, compared to its average volume of 1,711,145. The firm's 50 day moving average price is $13.88 and its 200-day moving average price is $10.86. 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 stock has a market cap of $1.43 billion, a PE ratio of 268.00 and a beta of 0.78. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $16.82.

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 analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $226.04 million during the quarter, compared to the consensus estimate of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The business's revenue for the quarter was up 121.4% on a year-over-year basis. During the same period in the prior year, the firm posted $0.01 EPS. Gogo has set its FY 2025 guidance at EPS. On average, analysts expect that Gogo Inc. will post 0.41 earnings per share for the current 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.