FMR LLC raised its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 138.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 13,475,009 shares of the technology company's stock after purchasing an additional 7,821,973 shares during the quarter. FMR LLC owned 10.71% of Gogo worth $109,013,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of the business. Barclays PLC boosted its stake in Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company's stock worth $789,000 after buying an additional 85,925 shares during the period. Van ECK Associates Corp raised its holdings in shares of Gogo by 256.1% in the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company's stock valued at $1,252,000 after buying an additional 111,267 shares during the period. State Street Corp lifted its position in shares of Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company's stock worth $17,675,000 after purchasing an additional 51,681 shares in the last quarter. Amundi boosted its position in Gogo by 142.9% in the 4th quarter. Amundi now owns 26,387 shares of the technology company's stock valued at $200,000 after buying an additional 15,525 shares during the period. Finally, LB Partners LLC increased its holdings in 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 purchasing an additional 176,092 shares during the period. Institutional investors and hedge funds own 69.60% of the company's stock.
Gogo Stock Performance
GOGO traded up $0.07 on Friday, reaching $6.97. The company had a trading volume of 998,560 shares, compared to its average volume of 1,180,662. The stock has a 50-day moving average price of $7.55 and a 200-day moving average price of $7.62. The stock has a market capitalization of $915.51 million, a PE ratio of 16.21 and a beta of 0.60. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.00. 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 released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, topping the consensus estimate of $0.04 by $0.03. The company had revenue of $137.80 million for the quarter, compared to analyst estimates of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The firm's revenue was up 40.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.11 earnings per share. As a group, research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.
Insider Activity at Gogo
In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the business's stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.00% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of equities research analysts have commented on the stock. StockNews.com downgraded shares of Gogo from a "hold" rating to a "sell" rating in a research report on Monday, March 17th. Roth Mkm cut their price target on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.
View Our Latest Report on Gogo
Gogo Company Profile
(
Free Report)
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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