D. E. Shaw & Co. Inc. Boosts Holdings in Gogo Inc. (NASDAQ:GOGO)

D. E. Shaw & Co. Inc. raised its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 6.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,496,435 shares of the technology company's stock after acquiring an additional 96,364 shares during the period. D. E. Shaw & Co. Inc. owned approximately 1.19% of Gogo worth $12,106,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Hsbc Holdings PLC bought a new stake in shares of Gogo during the fourth quarter worth about $116,000. Diametric Capital LP purchased a new position in shares of Gogo during the fourth quarter valued at approximately $121,000. Mariner LLC purchased a new stake in Gogo in the 4th quarter valued at $124,000. Semanteon Capital Management LP bought a new position in Gogo during the 4th quarter valued at $138,000. Finally, Brighton Jones LLC lifted its position in shares of Gogo by 69.6% during the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock valued at $138,000 after purchasing an additional 6,978 shares in the last quarter. Institutional investors own 69.60% of the company's stock.

Insiders Place Their Bets

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of Gogo stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 25.78% of the company's stock.

Gogo Trading Down 2.4%

Gogo stock traded down $0.30 during trading hours on Monday, reaching $12.26. The company had a trading volume of 165,623 shares, compared to its average volume of 1,274,869. The firm has a market cap of $1.62 billion, a price-to-earnings ratio of 28.65 and a beta of 0.93. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $12.90. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The company has a 50-day moving average price of $8.05 and a 200 day moving average price of $7.91.

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

Analysts Set New Price Targets

A number of brokerages have issued reports on GOGO. StockNews.com raised shares of Gogo from a "sell" rating to a "hold" rating in a research report on Monday, May 12th. Roth Mkm cut their target price on Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th.

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.