First Sabrepoint Capital Management LP Acquires New Position in Gogo Inc. (NASDAQ:GOGO)

First Sabrepoint Capital Management LP acquired a new stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 325,000 shares of the technology company's stock, valued at approximately $2,629,000. First Sabrepoint Capital Management LP owned approximately 0.26% of Gogo as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GOGO. Van ECK Associates Corp raised its position in shares of Gogo by 256.1% during the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company's stock worth $1,252,000 after buying an additional 111,267 shares in the last quarter. Amundi raised its position in shares of Gogo by 142.9% during the 4th quarter. Amundi now owns 26,387 shares of the technology company's stock worth $200,000 after buying an additional 15,525 shares in the last quarter. LB Partners LLC raised its position in shares of Gogo by 8.6% during the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company's stock worth $17,969,000 after buying an additional 176,092 shares in the last quarter. Barclays PLC raised its position in shares of Gogo by 357.5% during the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company's stock worth $789,000 after buying an additional 85,925 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Gogo by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company's stock worth $2,329,000 after buying an additional 5,420 shares in the last quarter. Institutional investors own 69.60% of the company's stock.

Wall Street Analysts Forecast Growth

GOGO has been the topic of a number of research reports. StockNews.com downgraded shares of Gogo from a "hold" rating to a "sell" rating in a report on Monday, March 17th. Roth Mkm dropped their target price on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a report on Monday, March 17th.

Gogo Price Performance

Shares of NASDAQ GOGO traded up $3.41 during midday trading on Friday, reaching $10.98. The company's stock had a trading volume of 12,467,638 shares, compared to its average volume of 1,231,942. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The company has a 50 day moving average price of $7.52 and a 200 day moving average price of $7.73. Gogo Inc. has a one year low of $6.17 and a one year high of $11.34. The company has a market cap of $1.45 billion, a price-to-earnings ratio of 25.53 and a beta of 0.93.

Gogo (NASDAQ:GOGO - Get Free Report) last released its earnings results on Friday, May 9th. The technology company reported $0.18 EPS 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 previous year, the firm earned $0.23 EPS. The business's revenue for the quarter was up 120.8% on a year-over-year basis. On average, equities research analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne bought 30,173 shares of the company's stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the transaction, the director now directly owns 711,341 shares in the company, valued at approximately $4,673,510.37. The trade was a 4.43% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 26.00% of the stock is currently owned by insiders.

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.