PharVision Advisers LLC bought a new position in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 92,199 shares of the technology company's stock, valued at approximately $746,000. Gogo accounts for 0.6% of PharVision Advisers LLC's portfolio, making the stock its 12th largest position. PharVision Advisers LLC owned about 0.07% of Gogo at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Gogo by 14.2% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 237,941 shares of the technology company's stock valued at $1,925,000 after buying an additional 29,585 shares in the last quarter. Voloridge Investment Management LLC grew its stake in shares of Gogo by 76.1% in the 4th quarter. Voloridge Investment Management LLC now owns 581,706 shares of the technology company's stock worth $4,706,000 after buying an additional 251,348 shares during the last quarter. Squarepoint Ops LLC increased its holdings in shares of Gogo by 222.0% during the fourth quarter. Squarepoint Ops LLC now owns 30,506 shares of the technology company's stock valued at $247,000 after acquiring an additional 55,506 shares in the last quarter. Two Sigma Investments LP raised its holdings in Gogo by 50.1% in the fourth quarter. Two Sigma Investments LP now owns 101,778 shares of the technology company's stock worth $823,000 after buying an additional 33,960 shares during the last quarter. Finally, Tenzing Global Management LLC grew its holdings in shares of Gogo by 59.6% during the fourth quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company's stock valued at $16,787,000 after buying an additional 775,000 shares during the last quarter. Institutional investors own 69.60% of the company's stock.
Insider Transactions at Gogo
In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of Gogo stock in a transaction on Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This represents a 4.43% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 25.78% of the company's stock.
Gogo Stock Performance
Shares of GOGO stock traded down $1.97 during trading hours on Monday, reaching $10.84. The company had a trading volume of 4,313,505 shares, compared to its average volume of 1,314,170. 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 one year low of $6.17 and a one year high of $13.16. The firm has a market cap of $1.43 billion, a PE ratio of 25.21 and a beta of 0.93. The business has a fifty day moving average price of $8.57 and a 200-day moving average price of $8.07.
Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 EPS for the quarter, topping the consensus estimate of $0.05 by $0.13. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company had revenue of $230.31 million during the quarter, compared to analyst estimates of $214.93 million. During the same quarter in the previous year, the company posted $0.23 earnings per share. Gogo's revenue was up 120.8% compared to the same quarter last year. Sell-side analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.
Analyst Ratings Changes
A number of equities analysts recently weighed in on GOGO shares. Wall Street Zen upgraded shares of Gogo from a "hold" rating to a "buy" rating in a report on Thursday. Roth Mkm reduced their target price on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th.
Read Our Latest Analysis on GOGO
Gogo Company Profile
(
Free Report)
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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