Public Sector Pension Investment Board Has $1.62 Million Stock Holdings in 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 increased its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 27.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,518 shares of the technology company's stock after buying an additional 40,233 shares during the period. Public Sector Pension Investment Board owned 0.14% of Gogo worth $1,616,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GOGO. Nantahala Capital Management LLC lifted its position in Gogo by 441.5% during the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company's stock worth $20,829,000 after buying an additional 2,099,145 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in Gogo during the 4th quarter worth about $14,147,000. Tenzing Global Management LLC raised its holdings in Gogo by 59.6% during the 4th quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company's stock worth $16,787,000 after purchasing an additional 775,000 shares during the last quarter. Royce & Associates LP raised its holdings in Gogo by 364.9% during the 1st quarter. Royce & Associates LP now owns 701,374 shares of the technology company's stock worth $6,046,000 after purchasing an additional 550,519 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in Gogo by 9.3% during the 1st quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company's stock worth $49,094,000 after purchasing an additional 485,145 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

Gogo Stock Up 0.2%

Shares of GOGO traded up $0.02 on Wednesday, hitting $11.25. The company's stock had a trading volume of 1,383,942 shares, compared to its average volume of 2,008,366. 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 firm's fifty day moving average price is $14.37 and its 200-day moving average price is $10.73. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $16.82. The firm has a market capitalization of $1.50 billion, a price-to-earnings ratio of 281.25 and a beta of 1.11.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Thursday, August 7th. The technology company reported $0.13 earnings per share (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 business had revenue of $226.04 million during the quarter, compared to analyst estimates of $220.12 million. During the same period in the previous year, the firm earned $0.01 EPS. Gogo's quarterly revenue was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Analyst Upgrades and Downgrades

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

Insider Activity at Gogo

In related news, EVP Michael Begler sold 107,136 shares of the business's stock in a transaction that occurred on Wednesday, June 18th. The stock was sold at an average price of $15.00, for a total value of $1,607,040.00. Following the completion of the transaction, the executive vice president directly owned 14,454 shares in the company, valued at approximately $216,810. The trade was a 88.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Christopher John Moore purchased 10,000 shares of the firm's stock in a transaction dated Friday, August 8th. The shares were acquired at an average cost of $12.11 per share, with a total value of $121,100.00. Following the completion of the purchase, the chief executive officer directly owned 10,000 shares in the company, valued at approximately $121,100. This represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 25.78% of the stock is currently owned by insiders.

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.