223,524 Shares in Gogo Inc. $GOGO Acquired by Nuveen LLC

Key Points

• Nuveen LLC acquired 223,524 shares of Gogo Inc., valued at approximately $1,927,000, which accounts for about 0.17% of the company's stock.
• Brokerages have mixed ratings on Gogo, with Roth Capital setting a "buy" rating and $16.50 price target, while Wall Street Zen downgraded it to a "hold" rating.
• Gogo reported a 121.4% increase in quarterly revenue, posting $226.04 million, and exceeding analysts' expectations with $0.13 earnings per share.

Nuveen LLC purchased a new position in Gogo Inc. (NASDAQ:GOGO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 223,524 shares of the technology company's stock, valued at approximately $1,927,000. Nuveen LLC owned approximately 0.17% of Gogo at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GOGO. Silvercrest Asset Management Group LLC bought a new stake in Gogo in the fourth quarter worth approximately $14,147,000. Tenzing Global Management LLC lifted its stake in shares of Gogo by 59.6% in the 4th quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company's stock valued at $16,787,000 after purchasing an additional 775,000 shares during the last quarter. Royce & Associates LP boosted its holdings in Gogo by 364.9% in the first quarter. Royce & Associates LP now owns 701,374 shares of the technology company's stock worth $6,046,000 after purchasing an additional 550,519 shares in the last quarter. Vanguard Group Inc. increased its position in Gogo by 9.3% during the first quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company's stock worth $49,094,000 after buying an additional 485,145 shares during the last quarter. Finally, Jupiter Asset Management Ltd. bought a new position in Gogo during the first quarter valued at about $3,386,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Insiders Place Their Bets

In other news, CEO Christopher John Moore bought 10,000 shares of Gogo stock in a transaction dated Friday, August 8th. The shares were bought at an average price of $12.11 per share, for a total transaction of $121,100.00. Following the purchase, the chief executive officer owned 10,000 shares of the company's stock, valued at approximately $121,100. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing 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 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 sale, the executive vice president directly owned 14,454 shares of the company's stock, valued at approximately $216,810. The trade was a 88.11% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 25.78% of the company's stock.

Gogo Price Performance

Shares of GOGO stock remained flat at $10.73 during mid-day trading on Thursday. The company's stock had a trading volume of 980,947 shares, compared to its average volume of 1,912,422. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $16.82. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 268.25 and a beta of 0.78. The company has a 50 day moving average of $13.96 and a 200 day moving average of $10.85. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Thursday, August 7th. The technology company reported $0.13 EPS for the quarter, beating analysts' consensus estimates of $0.12 by $0.01. The business had revenue of $226.04 million during the quarter, compared to analyst estimates of $220.12 million. Gogo had a return on equity of 88.04% and a net margin of 1.05%.Gogo's revenue was up 121.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.01 earnings per share. Gogo has set its FY 2025 guidance at EPS. Sell-side analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

GOGO has been the topic of a number of recent analyst reports. Roth Capital set a $16.50 price objective on Gogo and gave the company a "buy" rating in a research note on Wednesday, June 18th. Morgan Stanley initiated coverage on shares of Gogo in a report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 price objective for the company. Finally, Wall Street Zen downgraded shares of Gogo from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $14.83.

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.