Two Sigma Investments LP lifted its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 50.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,778 shares of the technology company's stock after purchasing an additional 33,960 shares during the quarter. Two Sigma Investments LP owned about 0.08% of Gogo worth $823,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gogo by 3.6% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock worth $298,000 after purchasing an additional 1,273 shares in the last quarter. Nuveen Asset Management LLC lifted its position in Gogo by 0.6% in the 4th quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock valued at $1,807,000 after acquiring an additional 1,373 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Gogo by 8.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after purchasing an additional 5,078 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Gogo by 1.9% in the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company's stock worth $2,329,000 after purchasing an additional 5,420 shares in the last quarter. Finally, Lazard Asset Management LLC purchased a new position in shares of Gogo in the fourth quarter worth $43,000. 69.60% of the stock is owned by institutional investors.
Insider Transactions 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. Also, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the company's stock in a transaction dated Thursday, May 22nd. The stock was sold at an average price of $11.00, for a total value of $93,500,000.00. Following the completion of the sale, the director now owns 4,174,482 shares of the company's stock, valued at approximately $45,919,302. The trade was a 67.06% decrease in their position. The disclosure for this sale can be found here. Company insiders own 25.78% of the company's stock.
Analyst Ratings Changes
Several research firms recently commented on GOGO. Wall Street Zen raised Gogo from a "hold" rating to a "buy" rating in a research report on Thursday, May 22nd. 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.
View Our Latest Stock Analysis on Gogo
Gogo Price Performance
Shares of GOGO opened at $11.11 on Friday. The firm has a market cap of $1.47 billion, a PE ratio of 25.84 and a beta of 0.93. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The firm has a fifty day simple moving average of $9.09 and a two-hundred day simple moving average of $8.27. Gogo Inc. has a 1-year low of $6.17 and a 1-year high of $13.16.
Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.05 by $0.13. The firm had revenue of $230.31 million for the quarter, compared to the consensus estimate of $214.93 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company's revenue for the quarter was up 120.8% on a year-over-year basis. During the same period last year, the business posted $0.23 EPS. On average, equities analysts anticipate that Gogo Inc. will post 0.41 EPS for the current year.
About Gogo
(
Free Report)
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.
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