Gogo Inc. $GOGO Shares Acquired by Select Equity Group L.P.

Select Equity Group L.P. lifted its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 68.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 402,987 shares of the technology company's stock after purchasing an additional 164,257 shares during the period. Select Equity Group L.P. owned approximately 0.30% of Gogo worth $3,474,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in shares of Gogo by 439.5% in the first quarter. Millennium Management LLC now owns 709,003 shares of the technology company's stock valued at $6,112,000 after purchasing an additional 577,575 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Gogo by 6.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,205 shares of the technology company's stock valued at $338,000 after purchasing an additional 2,342 shares during the period. AQR Capital Management LLC increased its holdings in Gogo by 43.4% during the 1st quarter. AQR Capital Management LLC now owns 47,219 shares of the technology company's stock valued at $407,000 after acquiring an additional 14,293 shares in the last quarter. Ancora Advisors LLC purchased a new position in Gogo during the 1st quarter valued at about $458,000. Finally, Nantahala Capital Management LLC increased its holdings in Gogo by 38.5% during the 1st quarter. Nantahala Capital Management LLC now owns 3,564,797 shares of the technology company's stock valued at $30,729,000 after acquiring an additional 990,155 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.

Gogo Trading Down 5.5%

Shares of NASDAQ GOGO traded down $0.57 during midday trading on Friday, reaching $9.79. 1,729,747 shares of the stock were exchanged, compared to its average volume of 1,569,138. The company has a market capitalization of $1.31 billion, a P/E ratio of 244.75 and a beta of 0.78. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $16.82. The company has a current ratio of 1.71, a quick ratio of 1.32 and a debt-to-equity ratio of 8.10. The stock has a 50 day moving average price of $13.39 and a 200-day moving average price of $10.97.

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

Insider Transactions at Gogo

In related news, EVP Michael Begler sold 107,136 shares of the firm's stock in a transaction that occurred on Wednesday, June 18th. The shares were sold at an average price of $15.00, for a total value 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. This trade represents a 88.11% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Christopher John Moore bought 10,000 shares of the firm's stock in a transaction that occurred on Friday, August 8th. The stock was bought at an average cost of $12.11 per share, for a total transaction of $121,100.00. Following the completion of the transaction, the chief executive officer directly owned 10,000 shares of the company's stock, valued at approximately $121,100. The trade was a ∞ increase in their position. The disclosure for this purchase can be found here. Insiders own 25.78% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of Gogo from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Roth Capital set a $16.50 target price on shares of Gogo and gave the company a "buy" rating in a report on Wednesday, June 18th. Finally, Morgan Stanley assumed coverage on shares of Gogo in a report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 target price for the company. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target 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.