Public Sector Pension Investment Board Acquires 40,233 Shares of Gogo Inc. $GOGO

Key Points

• The Public Sector Pension Investment Board has increased its stake in Gogo Inc. by 27.3%, acquiring an additional 40,233 shares, bringing its total ownership to about 0.14% of the company valued at $1.6 million.
• Gogo recently reported earnings of $0.13 per share, surpassing expectations, alongside a year-over-year revenue increase of 121.4%, indicating strong financial performance.
• Gogo has a consensus rating of "Moderate Buy" with a target price averaging $14.83, reflecting mixed sentiments among analysts following recent upgrades and downgrades.

Public Sector Pension Investment Board lifted its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 27.3% in the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 187,518 shares of the technology company's stock after acquiring an additional 40,233 shares during the period. Public Sector Pension Investment Board owned 0.14% of Gogo worth $1,616,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Gogo by 3.6% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock worth $298,000 after purchasing an additional 1,273 shares in the last quarter. Nuveen Asset Management LLC grew its position in shares of Gogo by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock worth $1,807,000 after buying an additional 1,373 shares during the period. GAMMA Investing LLC increased its stake 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 acquiring an additional 3,027 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in 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 acquiring an additional 5,078 shares during the period. Finally, Lazard Asset Management LLC bought a new stake in Gogo during the fourth quarter worth about $43,000. 69.60% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GOGO has been the subject of a number of analyst reports. Roth Capital set a $16.50 target price on shares of Gogo and gave the company a "buy" rating in a research note on Wednesday, June 18th. Wall Street Zen downgraded Gogo from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Morgan Stanley began coverage on Gogo in a research note on Thursday, August 14th. They set an "equal weight" rating and a $15.00 price objective for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.83.

Gogo Stock Up 3.7%

Shares of Gogo stock traded up $0.41 on Friday, reaching $11.56. The company's stock had a trading volume of 2,252,428 shares, compared to its average volume of 1,928,668. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $16.82. The firm's fifty day simple moving average is $14.49 and its two-hundred day simple moving average is $10.70. The company has a quick ratio of 1.32, a current ratio of 1.71 and a debt-to-equity ratio of 8.10. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 289.00 and a beta of 1.11.

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, beating the consensus estimate of $0.12 by $0.01. Gogo had a return on equity of 88.04% and a net margin of 1.05%.The company had revenue of $226.04 million for the quarter, compared to analysts' expectations of $220.12 million. During the same period last year, the firm posted $0.01 earnings per share. Gogo's revenue was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. Equities analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Buying and Selling

In related news, EVP Michael Begler sold 107,136 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total value of $1,607,040.00. Following the sale, the executive vice president 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Christopher John Moore bought 10,000 shares of the firm's stock in a transaction on Friday, August 8th. The shares were bought at an average price of $12.11 per share, with a total value of $121,100.00. Following the completion of the purchase, the chief executive officer owned 10,000 shares in the company, valued at approximately $121,100. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 25.78% of the company's stock.

Gogo 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.