PharVision Advisers LLC Acquires Shares of 92,199 Gogo Inc. (NASDAQ:GOGO)

PharVision Advisers LLC acquired a new position in Gogo Inc. (NASDAQ:GOGO - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 92,199 shares of the technology company's stock, valued at approximately $746,000. Gogo accounts for about 0.6% of PharVision Advisers LLC's portfolio, making the stock its 12th largest holding. PharVision Advisers LLC owned about 0.07% of Gogo at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of GOGO. Lazard Asset Management LLC purchased a new position in Gogo during the fourth quarter worth approximately $43,000. State of Wyoming acquired a new position in shares of Gogo during the 4th quarter worth approximately $57,000. Teza Capital Management LLC acquired a new position in shares of Gogo during the 4th quarter worth approximately $110,000. Hsbc Holdings PLC purchased a new position in shares of Gogo during the 4th quarter valued at approximately $116,000. Finally, Diametric Capital LP acquired a new stake in Gogo in the 4th quarter valued at $121,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Gogo

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

Gogo Trading Up 0.2%

Shares of GOGO stock opened at $12.28 on Wednesday. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $12.90. The company's 50-day moving average price is $8.26 and its 200-day moving average price is $7.98. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 28.56 and a beta of 0.93.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its 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 for the quarter, compared to analyst estimates of $214.93 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. Gogo's revenue was up 120.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.23 EPS. As a group, equities analysts predict that Gogo Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have commented on GOGO shares. StockNews.com upgraded Gogo from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Roth Mkm lowered their price target on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.

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.

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