Sherbrooke Park Advisers LLC Sells 49,913 Shares of Gogo Inc. (NASDAQ:GOGO)

Sherbrooke Park Advisers LLC decreased its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 81.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 11,624 shares of the technology company's stock after selling 49,913 shares during the quarter. Sherbrooke Park Advisers LLC's holdings in Gogo were worth $94,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in GOGO. Lazard Asset Management LLC acquired a new position in Gogo in the 4th quarter worth approximately $43,000. Hsbc Holdings PLC acquired a new position in Gogo in the 4th quarter worth approximately $116,000. Diametric Capital LP acquired a new position in Gogo in the 4th quarter worth approximately $121,000. Mariner LLC acquired a new position in Gogo in the 4th quarter worth approximately $124,000. Finally, Semanteon Capital Management LP acquired a new position in Gogo in the 4th quarter worth approximately $138,000. Institutional investors and hedge funds own 69.60% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on GOGO. Wall Street Zen raised shares of Gogo from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd. Roth Mkm cut their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 17th.

Insider Buying and Selling

In other news, Director Oakleigh Thorne bought 30,173 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the acquisition, the director now directly owns 711,341 shares of the company's stock, valued at $4,673,510.37. The trade was a 4.43% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 25.78% of the company's stock.

Gogo Stock Up 4.1%

Shares of Gogo stock traded up $0.45 during midday trading on Tuesday, reaching $11.29. 761,286 shares of the company's stock traded hands, compared to its average volume of 1,312,089. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 26.25 and a beta of 0.93. The company's 50 day simple moving average is $8.64 and its 200 day simple moving average is $8.09. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $13.16.

Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share for the quarter, beating analysts' consensus estimates of $0.05 by $0.13. The business had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. Gogo's revenue for the quarter was up 120.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.23 EPS. Equities analysts expect that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

About Gogo

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.