Silvercrest Asset Management Group LLC Takes $14.15 Million Position in Gogo Inc. (NASDAQ:GOGO)

Silvercrest Asset Management Group LLC purchased a new position in Gogo Inc. (NASDAQ:GOGO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 1,748,650 shares of the technology company's stock, valued at approximately $14,147,000. Silvercrest Asset Management Group LLC owned approximately 1.39% of Gogo at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new stake in Gogo in the fourth quarter worth about $43,000. Hsbc Holdings PLC bought a new stake in shares of Gogo in the 4th quarter worth approximately $116,000. Diametric Capital LP purchased a new stake in shares of Gogo in the 4th quarter worth approximately $121,000. Mariner LLC bought a new position in Gogo during the 4th quarter valued at approximately $124,000. Finally, Semanteon Capital Management LP purchased a new position in Gogo during the fourth quarter valued at $138,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Gogo Stock Down 1.3%

GOGO traded down $0.16 during trading on Wednesday, hitting $12.12. 1,026,853 shares of the company's stock traded hands, compared to its average volume of 1,280,356. The stock has a market capitalization of $1.60 billion, a price-to-earnings ratio of 28.19 and a beta of 0.93. The company's 50 day simple moving average is $8.37 and its two-hundred day simple moving average is $8.01. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $12.90. 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 (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.05 by $0.13. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. During the same period in the prior year, the company posted $0.23 earnings per share. The company's quarterly revenue was up 120.8% on a year-over-year basis. Analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Gogo

In related news, Director Oakleigh Thorne bought 30,173 shares of the firm's stock in a transaction on 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 purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 25.78% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on GOGO shares. StockNews.com upgraded Gogo from a "sell" rating to a "hold" rating in a report on Monday, May 12th. Roth Mkm reduced their price objective on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company 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.