Charles Schwab Investment Management Inc. Grows Position in Gogo Inc. $GOGO

Key Points

• Charles Schwab Investment Management Inc. increased its stake in Gogo Inc. by 4.6%, owning 580,545 shares valued at $5,004,000 after purchasing an additional 25,623 shares.
• Several hedge funds, including Vanguard Group Inc. and Tenzing Global Management LLC, have recently adjusted their stakes in Gogo, indicating a strong interest from institutional investors.
• Gogo reported earnings of $0.13 EPS in its latest quarter, surpassing expectations and showing a significant revenue increase of 121.4% year-over-year.

Charles Schwab Investment Management Inc. increased its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 4.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 580,545 shares of the technology company's stock after buying an additional 25,623 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.44% of Gogo worth $5,004,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of GOGO. GAMMA Investing LLC raised its position 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 purchasing an additional 3,027 shares during the period. Lazard Asset Management LLC bought a new position in Gogo in the 4th quarter worth approximately $43,000. State of Wyoming bought a new stake in shares of Gogo during the fourth quarter valued at approximately $57,000. Teza Capital Management LLC purchased a new position in Gogo during the fourth quarter valued at $110,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Gogo in the 1st quarter worth $111,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Stock Down 1.1%

Shares of GOGO stock traded down $0.12 during trading hours on Tuesday, reaching $10.86. 70,762 shares of the company's stock were exchanged, compared to its average volume of 1,705,661. The stock has a market cap of $1.45 billion, a PE ratio of 271.05 and a beta of 0.79. 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's fifty day moving average price is $14.18 and its two-hundred day moving average price is $10.83. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $16.82.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The technology company reported $0.13 EPS for the quarter, topping the consensus estimate 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 net margin of 1.05% and a return on equity of 88.04%. The business's revenue for the quarter was up 121.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.01 earnings per share. Gogo has set its FY 2025 guidance at EPS. Research analysts predict that Gogo Inc. will post 0.41 EPS for the current year.

Insider Buying and Selling at Gogo

In related news, CEO Christopher John Moore purchased 10,000 shares of the business's stock in a transaction on Friday, August 8th. The shares were bought at an average cost of $12.11 per share, with a total value of $121,100.00. Following the transaction, the chief executive officer owned 10,000 shares of the company's stock, valued at approximately $121,100. This trade represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Michael Begler sold 107,136 shares of the firm's stock in a transaction dated 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 sale, 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. 25.78% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

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