LB Partners LLC Raises Holdings in Gogo Inc. (NASDAQ:GOGO)

LB Partners LLC grew its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 6.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,363,979 shares of the technology company's stock after acquiring an additional 142,887 shares during the quarter. Gogo accounts for about 14.6% of LB Partners LLC's holdings, making the stock its 2nd largest position. LB Partners LLC owned 1.80% of Gogo worth $20,283,000 at the end of the most recent reporting period.

A number of other hedge funds also recently modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Gogo by 3.6% during 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 during the period. Nuveen Asset Management LLC raised its stake in Gogo by 0.6% in the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock valued at $1,807,000 after buying an additional 1,373 shares during the period. GAMMA Investing LLC raised its stake in Gogo by 532.9% in the first 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. Price T Rowe Associates Inc. MD raised its stake in Gogo by 8.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after buying an additional 5,078 shares during the period. Finally, Lazard Asset Management LLC bought a new position in shares of Gogo during the fourth quarter worth approximately $43,000. Institutional investors own 69.60% of the company's stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on GOGO shares. Wall Street Zen upgraded Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. Roth Mkm reduced their price objective on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 17th. Finally, Roth Capital set a $16.50 price objective on Gogo and gave the stock a "buy" rating in a research report on Wednesday, June 18th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $12.63.

Insider Activity

In related news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $11.00, for a total value of $93,500,000.00. Following the sale, the director directly owned 4,174,482 shares of the company's stock, valued at $45,919,302. This trade represents a 67.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,607,040.00. Following the completion of the sale, the executive vice president owned 14,454 shares of the company's stock, valued at $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 owned by company insiders.

Gogo Stock Performance

NASDAQ GOGO traded down $0.15 on Wednesday, hitting $15.61. 1,648,170 shares of the stock traded hands, compared to its average volume of 1,459,739. The business's fifty day moving average is $12.02 and its two-hundred day moving average is $9.20. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $16.05. The firm has a market capitalization of $2.06 billion, a price-to-earnings ratio of -390.25 and a beta of 1.06. The company has a debt-to-equity ratio of 10.03, a quick ratio of 1.36 and a current ratio of 1.84.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.13. Gogo had a positive return on equity of 95.01% and a negative net margin of 0.82%. The company had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. During the same quarter last year, the business posted $0.23 earnings per share. The firm's revenue was up 120.8% compared to the same quarter last year. As a group, equities analysts anticipate that Gogo Inc. will post 0.41 EPS for the current fiscal year.

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.