Gotham Asset Management LLC Invests $519,000 in Gogo Inc. (NASDAQ:GOGO)

Gotham Asset Management LLC acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 64,140 shares of the technology company's stock, valued at approximately $519,000. Gotham Asset Management LLC owned about 0.05% of Gogo as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in the stock. First Sabrepoint Capital Management LP acquired a new position in shares of Gogo during the fourth quarter valued at about $2,629,000. D. E. Shaw & Co. Inc. increased its stake in Gogo by 6.9% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,496,435 shares of the technology company's stock valued at $12,106,000 after acquiring an additional 96,364 shares during the period. Jane Street Group LLC increased its stake in Gogo by 36.0% in the fourth quarter. Jane Street Group LLC now owns 233,746 shares of the technology company's stock valued at $1,891,000 after acquiring an additional 61,837 shares during the period. One68 Global Capital LLC bought a new stake in Gogo in the fourth quarter valued at about $375,000. Finally, Nantahala Capital Management LLC increased its stake in Gogo by 441.5% in the fourth quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company's stock valued at $20,829,000 after acquiring an additional 2,099,145 shares during the period. Institutional investors and hedge funds own 69.60% of the company's stock.

Gogo Price Performance

Gogo stock traded up $0.69 during trading hours on Thursday, hitting $12.81. 4,406,096 shares of the stock were exchanged, compared to its average volume of 1,295,627. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock has a market capitalization of $1.69 billion, a P/E ratio of 29.79 and a beta of 0.93. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $13.13. The business's 50-day moving average is $8.49 and its two-hundred day moving average is $8.05.

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 for the quarter, topping the consensus estimate of $0.05 by $0.13. The firm had revenue of $230.31 million for the quarter, compared to analysts' expectations of $214.93 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The company's quarterly revenue was up 120.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.23 earnings per share. Equities research analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Roth Mkm lowered their target price on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. Wall Street Zen raised shares of Gogo from a "hold" rating to a "buy" rating in a research note on Thursday.

Insiders Place Their Bets

In other news, Director Oakleigh Thorne acquired 30,173 shares of the firm's stock in a transaction on Monday, March 17th. The shares were purchased at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the purchase, the director now owns 711,341 shares of the company's stock, valued at $4,673,510.37. This represents a 4.43% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 25.78% of the company's stock.

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.