LB Partners LLC Invests $14.66 Million in Gogo Inc. (NASDAQ:GOGO)

LB Partners LLC acquired a new stake in Gogo Inc. (NASDAQ:GOGO - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,446,688 shares of the technology company's stock, valued at approximately $14,655,000. Gogo accounts for about 16.1% of LB Partners LLC's holdings, making the stock its biggest position. LB Partners LLC owned about 1.12% of Gogo at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Great West Life Assurance Co. Can increased its holdings in shares of Gogo by 41.0% in the first quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company's stock valued at $44,000 after buying an additional 633 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Gogo by 1.1% during the third quarter. Thrivent Financial for Lutherans now owns 67,844 shares of the technology company's stock worth $822,000 after purchasing an additional 721 shares during the period. AQR Capital Management LLC lifted its holdings in shares of Gogo by 7.5% during the third quarter. AQR Capital Management LLC now owns 14,913 shares of the technology company's stock valued at $178,000 after purchasing an additional 1,035 shares during the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in shares of Gogo by 5.4% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 22,437 shares of the technology company's stock valued at $382,000 after purchasing an additional 1,152 shares during the last quarter. Finally, UBS Group AG boosted its position in shares of Gogo by 41.7% in the 3rd quarter. UBS Group AG now owns 4,033 shares of the technology company's stock valued at $49,000 after purchasing an additional 1,186 shares during the period. Institutional investors own 69.60% of the company's stock.

Insider Buying and Selling at Gogo

In other news, Director Charles C. Townsend acquired 28,857 shares of the business's stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the acquisition, the director now owns 1,740,588 shares in the company, valued at $15,717,509.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Charles C. Townsend purchased 28,857 shares of the stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $9.03 per share, with a total value of $260,578.71. Following the purchase, the director now owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Harris N. Williams acquired 12,000 shares of the company's stock in a transaction that occurred on Thursday, February 29th. The stock was purchased at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the acquisition, the director now directly owns 20,990 shares of the company's stock, valued at approximately $170,019. The disclosure for this purchase can be found here. Company insiders own 26.00% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on GOGO. JPMorgan Chase & Co. started coverage on Gogo in a report on Thursday, February 29th. They set a "neutral" rating and a $11.00 price objective on the stock. Roth Mkm cut their price target on shares of Gogo from $18.75 to $17.50 and set a "buy" rating on the stock in a report on Tuesday, December 12th. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Gogo presently has an average rating of "Moderate Buy" and a consensus target price of $16.13.

Gogo Stock Down 1.8 %

NASDAQ:GOGO traded down $0.16 during trading hours on Wednesday, hitting $8.59. 623,472 shares of the company's stock traded hands, compared to its average volume of 954,905. The stock's fifty day moving average price is $8.89 and its two-hundred day moving average price is $9.80. The firm has a market cap of $1.10 billion, a P/E ratio of 7.88 and a beta of 1.08. The company has a debt-to-equity ratio of 14.43, a quick ratio of 3.49 and a current ratio of 4.37. Gogo Inc. has a twelve month low of $7.76 and a twelve month high of $17.94.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its earnings results on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting analysts' consensus estimates of $0.11. The company had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. Gogo had a negative return on equity of 7,172.73% and a net margin of 36.64%. The firm's quarterly revenue was down 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. On average, research analysts expect that Gogo Inc. will post 0.38 earnings per share for the current fiscal year.

About Gogo

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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