UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 29,585 Shares of Gogo Inc. (NASDAQ:GOGO)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 14.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 237,941 shares of the technology company's stock after buying an additional 29,585 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned about 0.19% of Gogo worth $1,925,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in GOGO. FMR LLC lifted its position in shares of Gogo by 138.4% during the fourth quarter. FMR LLC now owns 13,475,009 shares of the technology company's stock valued at $109,013,000 after purchasing an additional 7,821,973 shares in the last quarter. Nantahala Capital Management LLC lifted its position in shares of Gogo by 441.5% during the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company's stock worth $20,829,000 after buying an additional 2,099,145 shares in the last quarter. Silvercrest Asset Management Group LLC purchased a new position in shares of Gogo in the 4th quarter worth approximately $14,147,000. Tenzing Global Management LLC boosted its stake in shares of Gogo by 59.6% in the 4th quarter. Tenzing Global Management LLC now owns 2,075,000 shares of the technology company's stock worth $16,787,000 after buying an additional 775,000 shares during the last quarter. Finally, Capco Asset Management LLC grew its holdings in shares of Gogo by 22.1% in the fourth quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company's stock valued at $24,349,000 after acquiring an additional 544,178 shares in the last quarter. 69.60% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on GOGO shares. Roth Mkm reduced their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research report on Monday, March 17th. Wall Street Zen upgraded shares of Gogo from a "hold" rating to a "buy" rating in a research note on Thursday, May 22nd.

Gogo Price Performance

GOGO traded up $0.64 during trading on Monday, reaching $11.75. 1,602,337 shares of the company were exchanged, compared to its average volume of 1,348,270. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $13.16. The company's 50-day moving average is $9.09 and its two-hundred day moving average is $8.27. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The company has a market cap of $1.55 billion, a price-to-earnings ratio of 27.33 and a beta of 0.99.

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

Insiders Place Their Bets

In other news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the firm's stock in a transaction that occurred on 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 transaction, the director now owns 4,174,482 shares in the company, valued at $45,919,302. This trade represents a 67.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction on Monday, March 17th. The shares were purchased at an average cost of $6.57 per share, with a total value of $198,236.61. Following the transaction, the director now directly owns 711,341 shares of the company's stock, valued at approximately $4,673,510.37. This trade represents a 4.43% increase in their position. The disclosure for this purchase can be found here. 25.78% of the stock is currently owned by insiders.

About Gogo

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.