Vanguard Group Inc. Raises Stock Position in Gogo Inc. $GOGO

Key Points

• Vanguard Group Inc. increased its stake in Gogo Inc. by 9.3% during the first quarter, now holding approximately 5.7 million shares, valued at about $49 million.
• CEO Christopher John Moore bought 10,000 shares of Gogo at an average cost of $12.11 per share, while EVP Michael Begler sold 107,136 shares at an average price of $15.00.
• Recent ratings by analysts indicate a consensus of a "Moderate Buy" for Gogo, with target prices ranging from $15.00 to $16.50 per share.

Vanguard Group Inc. boosted its position in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 9.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 5,695,358 shares of the technology company's stock after buying an additional 485,145 shares during the quarter. Vanguard Group Inc. owned approximately 4.31% of Gogo worth $49,094,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Gogo by 3.6% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,863 shares of the technology company's stock valued at $298,000 after buying an additional 1,273 shares during the period. Nuveen Asset Management LLC grew its position in Gogo by 0.6% during the fourth quarter. Nuveen Asset Management LLC now owns 223,317 shares of the technology company's stock valued at $1,807,000 after buying an additional 1,373 shares during the period. GAMMA Investing LLC grew its position in Gogo by 532.9% during the first quarter. GAMMA Investing LLC now owns 3,595 shares of the technology company's stock valued at $31,000 after buying an additional 3,027 shares during the period. Price T Rowe Associates Inc. MD grew its position in Gogo by 8.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company's stock valued at $502,000 after buying an additional 5,078 shares during the period. Finally, Lazard Asset Management LLC acquired a new stake in shares of Gogo in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 69.60% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GOGO. Morgan Stanley began coverage on shares of Gogo in a research report on Thursday, August 14th. They issued an "equal weight" rating and a $15.00 target price on the stock. Wall Street Zen lowered shares of Gogo from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Roth Capital set a $16.50 target price on shares of Gogo and gave the company a "buy" rating in a research report on Wednesday, June 18th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $14.83.

Insider Transactions at Gogo

In other Gogo news, CEO Christopher John Moore purchased 10,000 shares of the stock in a transaction that occurred on Friday, August 8th. The shares were purchased at an average cost of $12.11 per share, for a total transaction of $121,100.00. Following the completion of the transaction, the chief executive officer owned 10,000 shares of the company's stock, valued at $121,100. The trade was a ∞ increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Michael Begler sold 107,136 shares of the business's stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $15.00, for a total transaction of $1,607,040.00. Following the transaction, the executive vice president owned 14,454 shares in the company, valued at $216,810. The trade was a 88.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 25.78% of the company's stock.

Gogo Price Performance

GOGO traded up $0.01 on Friday, reaching $10.98. 1,387,438 shares of the company's stock were exchanged, compared to its average volume of 2,023,538. The stock has a market cap of $1.47 billion, a PE ratio of 274.50 and a beta of 0.79. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $16.82. The stock's fifty day moving average price is $14.24 and its 200-day moving average price is $10.81. The company has a debt-to-equity ratio of 8.10, a current ratio of 1.71 and a quick ratio of 1.32.

Gogo (NASDAQ:GOGO - Get Free Report) last posted its quarterly earnings results on Thursday, August 7th. The technology company reported $0.13 earnings per share for the quarter, topping analysts' consensus estimates of $0.12 by $0.01. The firm had revenue of $226.04 million for the quarter, compared to analyst estimates of $220.12 million. Gogo had a net margin of 1.05% and a return on equity of 88.04%. Gogo's quarterly revenue was up 121.4% on a year-over-year basis. During the same period in the previous year, the business posted $0.01 earnings per share. Gogo has set its FY 2025 guidance at EPS. Sell-side analysts expect that Gogo Inc. will post 0.41 EPS 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.