Gogo Inc. $GOGO is LB Partners LLC's Largest Position

LB Partners LLC grew its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 5.1% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,483,979 shares of the technology company's stock after buying an additional 120,000 shares during the period. Gogo accounts for approximately 23.3% of LB Partners LLC's holdings, making the stock its biggest holding. LB Partners LLC owned approximately 1.88% of Gogo worth $36,465,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Ancora Advisors LLC purchased a new stake in shares of Gogo during the 1st quarter valued at $458,000. Select Equity Group L.P. grew its stake in shares of Gogo by 68.8% during the 1st quarter. Select Equity Group L.P. now owns 402,987 shares of the technology company's stock valued at $3,474,000 after buying an additional 164,257 shares during the period. Tenzing Global Management LLC grew its stake in shares of Gogo by 31.3% during the 1st quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company's stock valued at $23,490,000 after buying an additional 650,000 shares during the period. Asset Management One Co. Ltd. purchased a new stake in shares of Gogo during the 1st quarter valued at $189,000. Finally, GAMMA Investing LLC grew its stake in shares of Gogo by 532.9% during 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. 69.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO Christopher John Moore acquired 10,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were purchased at an average price of $12.11 per share, for a total transaction of $121,100.00. Following the acquisition, the chief executive officer directly owned 10,000 shares of the company's stock, valued at $121,100. This represents a ∞ increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 25.78% of the stock is owned by corporate insiders.

Gogo Stock Down 2.2%

Shares of Gogo stock opened at $8.88 on Monday. Gogo Inc. has a twelve month low of $6.20 and a twelve month high of $16.82. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10. The stock has a market cap of $1.19 billion, a price-to-earnings ratio of 222.00 and a beta of 1.07. The company has a fifty day moving average price of $10.11 and a 200 day moving average price of $11.23.

Gogo (NASDAQ:GOGO - Get Free Report) last issued 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. Gogo had a net margin of 1.05% and a return on equity of 88.04%. The firm had revenue of $226.04 million for the quarter, compared to analyst estimates of $220.12 million. During the same quarter in the previous year, the business posted $0.01 EPS. The firm's revenue was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. Equities research analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on GOGO shares. Weiss Ratings reissued a "sell (d+)" rating on shares of Gogo in a research note on Wednesday, October 8th. Morgan Stanley began coverage on shares of Gogo in a research report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 price target for the company. Finally, Wall Street Zen cut shares of 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, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Gogo currently has a consensus rating of "Hold" and a consensus price target of $14.83.

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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