William Blair Investment Management LLC Boosts Stock Position in Gogo Inc. $GOGO

Key Points

• William Blair Investment Management LLC increased its stake in Gogo Inc. by 124.8% in the second quarter, owning approximately 4.29% of the company, equivalent to around $83.3 million.
• Gogo's stock has seen varied analyst ratings, with a consensus rating of Hold and an average target price of $14.83.
• The company reported $0.13 per share earnings for its last quarter, surpassing estimates, and showed a significant year-over-year revenue increase of 121.4%.

William Blair Investment Management LLC boosted its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 124.8% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,673,833 shares of the technology company's stock after purchasing an additional 3,149,585 shares during the period. William Blair Investment Management LLC owned about 4.29% of Gogo worth $83,292,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of GOGO. Brighton Jones LLC boosted its position in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock worth $138,000 after purchasing an additional 6,978 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of Gogo by 532.9% during the 1st 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 last quarter. Asset Management One Co. Ltd. purchased a new position in shares of Gogo during the 1st quarter valued at $189,000. Principal Financial Group Inc. lifted its position in shares of Gogo by 2.5% during the 1st quarter. Principal Financial Group Inc. now owns 295,174 shares of the technology company's stock valued at $2,544,000 after buying an additional 7,284 shares during the last quarter. Finally, LB Partners LLC lifted its position in shares of Gogo by 6.4% during the 1st quarter. LB Partners LLC now owns 2,363,979 shares of the technology company's stock valued at $20,283,000 after buying an additional 142,887 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company's stock.

Analysts Set New Price Targets

GOGO has been the topic of a number of recent research reports. Wall Street Zen cut Gogo from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Gogo in a research report on Wednesday, October 8th. Finally, Morgan Stanley initiated coverage on Gogo in a research report on Thursday, August 14th. They set an "equal weight" rating and a $15.00 price target on the stock. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $14.83.

Gogo Stock Performance

Shares of GOGO opened at $8.88 on Friday. The stock's 50-day simple moving average is $10.11 and its 200 day simple moving average is $11.21. The stock has a market capitalization of $1.19 billion, a price-to-earnings ratio of 222.00 and a beta of 1.07. The company has a debt-to-equity ratio of 8.10, a quick ratio of 1.32 and a current ratio of 1.71. Gogo Inc. has a 52-week low of $6.20 and a 52-week high of $16.82.

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

Insider Transactions at Gogo

In related news, CEO Christopher John Moore acquired 10,000 shares of the company's stock in a transaction that occurred on Friday, August 8th. The shares were acquired at an average price of $12.11 per share, with a total value of $121,100.00. Following the acquisition, the chief executive officer owned 10,000 shares of the company's stock, valued at approximately $121,100. This trade represents a ∞ increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 25.78% of the company's stock.

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.

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