LB Partners LLC Boosts Stock Position in Gogo Inc. (NASDAQ:GOGO)

LB Partners LLC raised its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 6.4% in the 1st 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 buying an additional 142,887 shares during the quarter. Gogo comprises 14.6% of LB Partners LLC's portfolio, making the stock its 2nd biggest position. LB Partners LLC owned 1.80% of Gogo worth $20,283,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of GOGO. FMR LLC lifted its holdings in shares of Gogo by 138.4% during the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company's stock valued at $109,013,000 after purchasing an additional 7,821,973 shares in the last quarter. Nantahala Capital Management LLC raised its stake in shares of 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 purchasing an additional 2,099,145 shares in the last quarter. Silvercrest Asset Management Group LLC bought a new stake in shares of Gogo during the 4th quarter worth approximately $14,147,000. Tenzing Global Management LLC raised its stake in shares of 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 in the last quarter. Finally, Capco Asset Management LLC increased its holdings in shares of Gogo by 22.1% during the 4th quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company's stock worth $24,349,000 after acquiring an additional 544,178 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Gogo

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 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the firm's stock in a transaction that occurred on Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total value of $93,500,000.00. Following the completion of 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 position. The disclosure for this sale can be found here. Company insiders own 25.78% of the company's stock.

Gogo Trading Down 0.4%

Gogo stock traded down $0.07 during trading hours on Tuesday, hitting $15.76. The stock had a trading volume of 1,294,351 shares, compared to its average volume of 1,458,984. The company has a quick ratio of 1.36, a current ratio of 1.84 and a debt-to-equity ratio of 10.03. The stock has a market cap of $2.08 billion, a price-to-earnings ratio of -394.00 and a beta of 1.06. Gogo Inc. has a one year low of $6.17 and a one year high of $16.07. The business's 50 day simple moving average is $12.02 and its 200-day simple moving average is $9.20.

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

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on GOGO shares. Wall Street Zen raised Gogo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. 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. Finally, Roth Mkm dropped their price objective on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Gogo currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.63.

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.