Tudor Investment Corp ET AL Boosts Position in Gogo Inc. $GOGO

Key Points

• Tudor Investment Corp boosted its stake in Gogo by 1,095.1% in Q3 to 705,968 shares (about 0.53% of the company), leaving institutional investors with roughly 69.6% ownership.
• Director Charles C. Townsend bought 158,591 shares at an average $4.57, increasing his holdings to 418,686 shares (a 60.97% rise), while insiders now own 25.78% of the stock.
• Gogo missed Q4 EPS estimates (reported -$0.07 vs. $0.02 expected) despite revenue rising 67.3% to $230.6M; the stock trades around $4.44 with a market cap of ~$598M and a consensus analyst rating of Hold (average target $12.25).

Tudor Investment Corp ET AL raised its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 1,095.1% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 705,968 shares of the technology company's stock after purchasing an additional 646,894 shares during the period. Tudor Investment Corp ET AL owned about 0.53% of Gogo worth $6,064,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hancock Whitney Corp acquired a new stake in Gogo in the 3rd quarter valued at about $92,000. CANADA LIFE ASSURANCE Co lifted its holdings in shares of Gogo by 35.8% in the third quarter. CANADA LIFE ASSURANCE Co now owns 90,110 shares of the technology company's stock valued at $765,000 after purchasing an additional 23,734 shares in the last quarter. PharVision Advisers LLC grew its position in shares of Gogo by 268.4% in the third quarter. PharVision Advisers LLC now owns 42,993 shares of the technology company's stock valued at $369,000 after purchasing an additional 31,324 shares during the last quarter. XTX Topco Ltd increased its stake in shares of Gogo by 118.7% during the 3rd quarter. XTX Topco Ltd now owns 151,666 shares of the technology company's stock worth $1,303,000 after purchasing an additional 82,314 shares in the last quarter. Finally, Sherbrooke Park Advisers LLC acquired a new position in shares of Gogo during the 3rd quarter worth approximately $107,000. Institutional investors and hedge funds own 69.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on GOGO. Weiss Ratings reiterated a "sell (d)" rating on shares of Gogo in a report on Monday, December 29th. William Blair downgraded Gogo from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 9th. Finally, Morgan Stanley set a $8.00 price objective on Gogo in a research report on Friday, January 16th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Gogo currently has a consensus rating of "Hold" and an average target price of $12.25.

Gogo Stock Down 0.9%

GOGO opened at $4.44 on Wednesday. Gogo Inc. has a 12 month low of $3.85 and a 12 month high of $16.82. The business has a 50-day moving average of $4.51 and a two-hundred day moving average of $6.41. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24. The stock has a market capitalization of $597.98 million, a price-to-earnings ratio of 44.40 and a beta of 1.07.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings data on Friday, February 27th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a return on equity of 55.95% and a net margin of 1.42%.The company had revenue of $230.56 million for the quarter, compared to analysts' expectations of $222.65 million. During the same quarter in the previous year, the company earned ($0.22) earnings per share. The company's revenue was up 67.3% on a year-over-year basis. On average, research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Activity

In related news, Director Charles C. Townsend acquired 158,591 shares of the stock in a transaction dated Thursday, March 12th. The stock was bought at an average cost of $4.57 per share, with a total value of $724,760.87. Following the purchase, the director directly owned 418,686 shares of the company's stock, valued at approximately $1,913,395.02. This represents a 60.97% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 25.78% of the stock is owned by corporate insiders.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo's offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo's ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.

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