Nantahala Capital Management LLC Increases Stake in Gogo Inc. (NASDAQ:GOGO)

Nantahala Capital Management LLC boosted its position in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 441.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,574,642 shares of the technology company's stock after purchasing an additional 2,099,145 shares during the quarter. Gogo comprises about 0.9% of Nantahala Capital Management LLC's holdings, making the stock its 17th biggest holding. Nantahala Capital Management LLC owned 2.05% of Gogo worth $20,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. FMR LLC increased its holdings in shares of Gogo by 138.4% in the 4th quarter. FMR LLC now owns 13,475,009 shares of the technology company's stock worth $109,013,000 after purchasing an additional 7,821,973 shares in the last quarter. Capco Asset Management LLC raised its position in Gogo by 22.1% in the 4th quarter. Capco Asset Management LLC now owns 3,009,743 shares of the technology company's stock worth $24,349,000 after buying an additional 544,178 shares during the last quarter. SCP Investment LP lifted its stake in Gogo by 51.0% during the 4th quarter. SCP Investment LP now owns 1,450,000 shares of the technology company's stock valued at $11,730,000 after acquiring an additional 490,000 shares during the period. Renaissance Technologies LLC grew its stake in shares of Gogo by 113.8% in the fourth quarter. Renaissance Technologies LLC now owns 766,100 shares of the technology company's stock worth $6,198,000 after acquiring an additional 407,800 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in shares of Gogo by 15.8% during the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company's stock valued at $19,613,000 after purchasing an additional 330,961 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Oakleigh Thorne bought 30,173 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were bought at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 26.00% of the company's stock.

Analysts Set New Price Targets

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

Gogo Stock Performance

Shares of Gogo stock traded up $0.23 on Friday, hitting $7.80. 789,106 shares of the company's stock were exchanged, compared to its average volume of 1,192,022. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The stock has a market capitalization of $1.02 billion, a PE ratio of 18.14 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 50-day simple moving average of $7.42 and a 200-day simple moving average of $7.68.

Gogo (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.04 by $0.03. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The business had revenue of $137.80 million during the quarter, compared to analyst estimates of $97.80 million. During the same quarter in the previous year, the company posted $0.11 earnings per share. Gogo's revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities analysts anticipate that Gogo Inc. will post 0.41 EPS for the current year.

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.