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

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 14.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor 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 approximately 0.19% of Gogo worth $1,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC acquired a new position in Gogo in the fourth quarter worth $43,000. State of Wyoming acquired a new position in Gogo in the fourth quarter worth $57,000. Teza Capital Management LLC acquired a new position in Gogo in the fourth quarter worth $110,000. Hsbc Holdings PLC acquired a new position in Gogo in the fourth quarter worth $116,000. Finally, Diametric Capital LP acquired a new position in Gogo in the fourth quarter worth $121,000. Institutional investors and hedge funds own 69.60% of the company's stock.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wall Street Zen raised shares of Gogo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Roth Mkm cut their target price on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.

Gogo Trading Down 2.3%

GOGO traded down $0.27 during trading on Wednesday, reaching $11.62. The company had a trading volume of 1,622,436 shares, compared to its average volume of 1,358,510. The firm's 50-day simple moving average is $9.31 and its 200 day simple moving average is $8.35. The company has a market cap of $1.54 billion, a price-to-earnings ratio of 27.02 and a beta of 0.99. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $13.16. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Gogo (NASDAQ:GOGO - Get Free Report) last released its earnings results on Friday, May 9th. The technology company reported $0.18 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.13. The company had revenue of $230.31 million for 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%. The business's revenue for the quarter was up 120.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.23 EPS. Equities research analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

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.