Gogo Inc. $GOGO Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its holdings in Gogo Inc. by 50.7%, now owning approximately 0.08% of the company, valued at $1,563,000.
• Gogo's CEO, Christopher John Moore, recently purchased 10,000 shares of the company at an average price of $12.11 each, increasing his ownership in the firm.
• Gogo reported a 121.4% increase in revenue year-over-year for the latest quarter, achieving $226.04 million, along with an earnings per share (EPS) of $0.13, exceeding analyst expectations.

Blair William & Co. IL lessened its holdings in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 50.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 106,488 shares of the technology company's stock after selling 109,581 shares during the period. Blair William & Co. IL owned approximately 0.08% of Gogo worth $1,563,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Ancora Advisors LLC acquired a new position in Gogo during the first quarter worth $458,000. Select Equity Group L.P. boosted its position in Gogo by 68.8% during the first quarter. Select Equity Group L.P. now owns 402,987 shares of the technology company's stock worth $3,474,000 after purchasing an additional 164,257 shares in the last quarter. Tenzing Global Management LLC boosted its position in Gogo by 31.3% during the first quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company's stock worth $23,490,000 after purchasing an additional 650,000 shares in the last quarter. Asset Management One Co. Ltd. purchased a new stake in Gogo during the first quarter worth $189,000. Finally, GAMMA Investing LLC boosted its position in Gogo by 532.9% during the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock worth $31,000 after purchasing an additional 3,027 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

Insider Activity

In related news, CEO Christopher John Moore bought 10,000 shares of the stock in a transaction dated Friday, August 8th. The stock was acquired at an average price of $12.11 per share, for a total transaction of $121,100.00. Following the completion of the purchase, the chief executive officer owned 10,000 shares in the company, valued at $121,100. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 25.78% of the company's stock.

Gogo Price Performance

GOGO stock opened at $9.48 on Thursday. The company has a debt-to-equity ratio of 8.10, a quick ratio of 1.32 and a current ratio of 1.71. Gogo Inc. has a 1 year low of $6.20 and a 1 year high of $16.82. The firm has a market cap of $1.27 billion, a P/E ratio of 237.00 and a beta of 1.07. The stock has a 50-day simple moving average of $10.24 and a 200-day simple moving average of $11.19.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its earnings results on Thursday, August 7th. The technology company reported $0.13 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 quarter last year, the firm earned $0.01 earnings per share. The company's revenue for the quarter was up 121.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. On average, equities analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Wall Street Zen downgraded Gogo from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Roth Capital set a $16.50 price objective on Gogo and gave the company a "buy" rating in a research report on Wednesday, June 18th. Morgan Stanley assumed coverage on Gogo in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $15.00 price objective on the stock. Finally, Weiss Ratings restated a "sell (d+)" rating on shares of Gogo in a research report on Wednesday, October 8th. 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 company. According to data from MarketBeat.com, the stock currently has an average 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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