Tudor Investment Corp ET AL Has $6.06 Million Stock Position in Gogo Inc. $GOGO

Key Points

• Tudor Investment Corp ET AL boosted its Gogo stake by 1,095.1% in Q3, buying 646,894 shares to hold 705,968 shares valued at about $6.06 million (≈0.53% of the company).
• Gogo reported a (-$0.07) EPS miss last quarter but revenue of $230.6M beat estimates and rose 67.3% year-over-year; the stock trades around $4.20 with a market cap of about $565.7M and a mixed analyst consensus of Hold (average target $12.25).
• Insiders and institutions remain active: Director Charles C. Townsend bought 158,591 shares (~$4.57 each), increasing his position ~61%, while institutional ownership is ~69.6% and insiders hold ~25.8%.

Tudor Investment Corp ET AL boosted its holdings in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 1,095.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 705,968 shares of the technology company's stock after buying an additional 646,894 shares during the period. Tudor Investment Corp ET AL owned approximately 0.53% of Gogo worth $6,064,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the business. Hancock Whitney Corp acquired a new position in Gogo during the third quarter valued at $92,000. CANADA LIFE ASSURANCE Co raised its position in Gogo by 35.8% during the third quarter. CANADA LIFE ASSURANCE Co now owns 90,110 shares of the technology company's stock valued at $765,000 after buying an additional 23,734 shares during the period. PharVision Advisers LLC raised its position in Gogo by 268.4% during the third quarter. PharVision Advisers LLC now owns 42,993 shares of the technology company's stock valued at $369,000 after buying an additional 31,324 shares during the period. XTX Topco Ltd raised its position in Gogo by 118.7% during the third quarter. XTX Topco Ltd now owns 151,666 shares of the technology company's stock valued at $1,303,000 after buying an additional 82,314 shares during the period. Finally, Sherbrooke Park Advisers LLC acquired a new position in Gogo during the third quarter valued at $107,000. 69.60% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on GOGO shares. William Blair lowered Gogo from an "outperform" rating to a "market perform" rating in a research report on Tuesday, December 9th. Morgan Stanley set a $8.00 price target on Gogo in a research report on Friday, January 16th. Finally, Weiss Ratings reissued a "sell (d)" rating on shares of Gogo in a research report on Friday, March 27th. One analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Gogo currently has an average rating of "Hold" and an average target price of $12.25.

Gogo Stock Performance

Shares of NASDAQ GOGO opened at $4.20 on Wednesday. The company has a debt-to-equity ratio of 8.24, a quick ratio of 1.24 and a current ratio of 1.60. The firm has a market cap of $565.66 million, a price-to-earnings ratio of 42.00 and a beta of 1.12. The business's 50-day simple moving average is $4.39 and its 200-day simple moving average is $6.02. Gogo Inc. has a 52 week low of $3.85 and a 52 week high of $16.82.

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

Insider Transactions at Gogo

In other Gogo news, Director Charles C. Townsend bought 158,591 shares of the stock in a transaction on Thursday, March 12th. The shares were purchased at an average price of $4.57 per share, with a total value of $724,760.87. Following the acquisition, the director directly owned 418,686 shares of the company's stock, valued at $1,913,395.02. This represents a 60.97% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 25.78% of the stock is owned by company 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.

Want to see what other hedge funds are holding GOGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gogo Inc. (NASDAQ:GOGO - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.