Gogo Inc. (NASDAQ:GOGO) Position Boosted by Tenzing Global Management LLC

Tenzing Global Management LLC raised its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 59.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,075,000 shares of the technology company's stock after buying an additional 775,000 shares during the quarter. Gogo comprises about 12.6% of Tenzing Global Management LLC's investment portfolio, making the stock its biggest holding. Tenzing Global Management LLC owned about 1.65% of Gogo worth $16,787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in GOGO. Lazard Asset Management LLC purchased a new position in Gogo in the fourth quarter worth about $43,000. State of Wyoming purchased a new position in Gogo in the fourth quarter worth about $57,000. Teza Capital Management LLC purchased a new position in shares of Gogo in the fourth quarter worth $110,000. Hsbc Holdings PLC bought a new position in shares of Gogo during the fourth quarter valued at $116,000. Finally, Diametric Capital LP bought a new position in shares of Gogo during the fourth quarter valued at $121,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Gogo Stock Performance

Gogo stock traded up $0.02 during mid-day trading on Tuesday, reaching $12.28. 942,281 shares of the stock traded hands, compared to its average volume of 1,278,554. The stock has a market capitalization of $1.62 billion, a PE ratio of 28.56 and a beta of 0.93. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $12.90. The business's 50-day moving average is $8.26 and its 200-day moving average is $7.98.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 EPS for the quarter, beating analysts' consensus estimates of $0.05 by $0.13. The company had revenue of $230.31 million during the quarter, compared to analysts' expectations of $214.93 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. Gogo's revenue for the quarter was up 120.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.23 earnings per share. As a group, sell-side analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Gogo

In related news, Director Oakleigh Thorne purchased 30,173 shares of Gogo stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43% increase in their position. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 25.78% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GOGO has been the topic of several research analyst reports. StockNews.com upgraded shares of Gogo from a "sell" rating to a "hold" rating in a research note on Monday, May 12th. Roth Mkm lowered their target price on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock 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.