Jane Street Group LLC Acquires 61,837 Shares of Gogo Inc. (NASDAQ:GOGO)

Jane Street Group LLC lifted its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 36.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 233,746 shares of the technology company's stock after acquiring an additional 61,837 shares during the period. Jane Street Group LLC owned 0.19% of Gogo worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in GOGO. Hsbc Holdings PLC purchased a new stake in shares of Gogo during the 4th quarter worth about $116,000. Diametric Capital LP acquired a new stake in Gogo in the 4th quarter valued at about $121,000. Mariner LLC acquired a new stake in shares of Gogo during the 4th quarter worth approximately $124,000. Semanteon Capital Management LP acquired a new stake in shares of Gogo during the 4th quarter worth approximately $138,000. Finally, Brighton Jones LLC increased its holdings in Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock valued at $138,000 after purchasing an additional 6,978 shares during the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Trading Down 15.4%

Shares of Gogo stock traded down $1.97 during trading hours on Friday, hitting $10.84. The company's stock had a trading volume of 4,313,505 shares, compared to its average volume of 1,310,640. The company has a market capitalization of $1.43 billion, a PE ratio of 25.21 and a beta of 0.93. The business has a fifty day moving average of $8.57 and a 200 day moving average of $8.07. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo Inc. has a 1-year low of $6.17 and a 1-year high of $13.16.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings results 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 net margin of 13.94% and a return on equity of 121.96%. The company had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. During the same period last year, the firm posted $0.23 EPS. The company's revenue for the quarter was up 120.8% on a year-over-year basis. As a group, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

Insiders Place Their Bets

In related news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction that occurred 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 transaction, the director now owns 711,341 shares of the company's stock, valued at approximately $4,673,510.37. This trade represents a 4.43% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 25.78% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages have commented on GOGO. Roth Mkm decreased their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Wall Street Zen raised shares of Gogo from a "hold" rating to a "buy" rating in a report on Thursday.

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.