Voloridge Investment Management LLC Has $4.71 Million Stake in Gogo Inc. (NASDAQ:GOGO)

Voloridge Investment Management LLC raised its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 76.1% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 581,706 shares of the technology company's stock after buying an additional 251,348 shares during the period. Voloridge Investment Management LLC owned approximately 0.46% of Gogo worth $4,706,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of Gogo in the fourth quarter valued at $43,000. State of Wyoming acquired a new stake in Gogo during the 4th quarter valued at $57,000. Teza Capital Management LLC purchased a new stake in shares of Gogo in the fourth quarter valued at $110,000. Hsbc Holdings PLC purchased a new stake in shares of Gogo in the fourth quarter valued at $116,000. Finally, Diametric Capital LP purchased a new stake in shares of Gogo in the fourth quarter valued at $121,000. Institutional investors own 69.60% of the company's stock.

Gogo Stock Up 0.3%

Shares of GOGO traded up $0.03 during mid-day trading on Friday, reaching $10.75. The company's stock had a trading volume of 1,247,948 shares, compared to its average volume of 1,329,476. The business has a fifty day moving average of $8.86 and a 200 day moving average of $8.17. The company has a market cap of $1.42 billion, a price-to-earnings ratio of 25.00 and a beta of 0.93. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $13.16. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

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

Analysts Set New Price Targets

GOGO has been the subject of a number of research analyst reports. Wall Street Zen upgraded Gogo from a "hold" rating to a "buy" rating in a report on Thursday, May 22nd. Roth Mkm reduced their target price on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th.

Insider Transactions at Gogo

In other news, Director (Equity) Holdings Lp Silver sold 8,500,000 shares of the company's stock in a transaction on Thursday, May 22nd. The shares were sold at an average price of $11.00, for a total value of $93,500,000.00. Following the transaction, the director now directly owns 4,174,482 shares of the company's stock, valued at approximately $45,919,302. This represents a 67.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Oakleigh Thorne purchased 30,173 shares of the company's stock in a transaction dated Monday, March 17th. The stock was bought at an average cost of $6.57 per share, for a total transaction 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. The trade was 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 company insiders.

Gogo Company 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.