Select Equity Group L.P. Has $1.93 Million Stock Holdings in Gogo Inc. (NASDAQ:GOGO)

Select Equity Group L.P. grew its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 33.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 238,730 shares of the technology company's stock after purchasing an additional 60,487 shares during the period. Select Equity Group L.P. owned approximately 0.19% of Gogo worth $1,931,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Gogo by 3.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock worth $298,000 after acquiring an additional 1,273 shares during the period. Nuveen Asset Management LLC boosted its stake in Gogo by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock worth $1,807,000 after buying an additional 1,373 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Gogo by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after acquiring an additional 5,078 shares during the period. Principal Financial Group Inc. boosted its position in shares of Gogo by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company's stock worth $2,329,000 after purchasing an additional 5,420 shares during the period. Finally, Lazard Asset Management LLC purchased a new stake in Gogo in the fourth quarter valued at approximately $43,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Gogo Stock Performance

NASDAQ:GOGO traded down $1.58 during midday trading on Friday, reaching $11.23. The stock had a trading volume of 2,682,521 shares, compared to its average volume of 1,301,270. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $13.16. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The firm has a fifty day simple moving average of $8.49 and a two-hundred day simple moving average of $8.05. The stock has a market cap of $1.49 billion, a P/E ratio of 26.07 and a beta of 0.93.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 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 business had revenue of $230.31 million during the quarter, compared to the consensus estimate of $214.93 million. During the same period in the previous year, the firm posted $0.23 earnings per share. The company's quarterly revenue was up 120.8% compared to the same quarter last year. On average, equities analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

GOGO has been the subject of several research reports. Wall Street Zen upgraded shares of Gogo from a "hold" rating to a "buy" rating in a research note on Thursday. Roth Mkm reduced their price target on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research report on Monday, March 17th.

Insider Buying and Selling at Gogo

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 currently owned by insiders.

Gogo Company 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.