Tenzing Global Management LLC Has $16.79 Million Stake in Gogo Inc. (NASDAQ:GOGO)

Tenzing Global Management LLC raised its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 59.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,075,000 shares of the technology company's stock after purchasing an additional 775,000 shares during the period. Gogo accounts for 12.6% of Tenzing Global Management LLC's holdings, making the stock its biggest holding. Tenzing Global Management LLC owned 1.65% of Gogo worth $16,787,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in Gogo during the 4th quarter valued at $43,000. State of Wyoming bought a new stake in Gogo in the 4th quarter valued at about $57,000. Teza Capital Management LLC bought a new stake in shares of Gogo in the fourth quarter valued at approximately $110,000. Hsbc Holdings PLC bought a new stake in shares of Gogo during the 4th quarter valued at $116,000. Finally, Diametric Capital LP bought a new stake in shares of Gogo during the fourth quarter valued at about $121,000. Institutional investors own 69.60% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on GOGO. Wall Street Zen raised Gogo from a "hold" rating to a "buy" rating in a report on Thursday. Roth Mkm dropped 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.

Insider Buying and Selling

In other news, Director Oakleigh Thorne acquired 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, for a total transaction of $198,236.61. Following the purchase, 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 ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 25.78% of the stock is currently owned by company insiders.

Gogo Trading Down 12.5%

GOGO stock traded down $1.61 on Friday, reaching $11.21. The company's stock had a trading volume of 2,771,635 shares, compared to its average volume of 1,301,857. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $13.16. The firm has a market cap of $1.48 billion, a PE ratio of 25.99 and a beta of 0.93. The business has a fifty day simple moving average of $8.49 and a two-hundred day simple moving average of $8.05. 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 (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 EPS for the quarter, beating 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 business had revenue of $230.31 million during the quarter, compared to analyst estimates of $214.93 million. During the same quarter last year, the firm posted $0.23 earnings per share. The company's revenue for the quarter was up 120.8% on a year-over-year basis. As a group, research analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

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.