One68 Global Capital LLC acquired a new stake in Gogo Inc. (NASDAQ:GOGO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 46,397 shares of the technology company's stock, valued at approximately $375,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC boosted 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 valued at $789,000 after purchasing an additional 85,925 shares in the last quarter. Virtu Financial LLC purchased a new stake in Gogo in the 3rd quarter worth about $169,000. SG Americas Securities LLC boosted its holdings in shares of Gogo by 25.4% during the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company's stock worth $286,000 after purchasing an additional 7,156 shares during the period. Brighton Jones LLC grew its holdings in shares of Gogo by 69.6% during the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock valued at $138,000 after acquiring an additional 6,978 shares in the last quarter. Finally, LB Partners LLC grew its stake in Gogo by 8.6% in the fourth quarter. LB Partners LLC now owns 2,221,092 shares of the technology company's stock valued at $17,969,000 after purchasing an additional 176,092 shares in the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on GOGO. StockNews.com lowered shares of Gogo from a "hold" rating to a "sell" rating in a research note on Monday, March 17th. Roth Mkm decreased their target price on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a research note on Monday, March 17th.
Read Our Latest Stock Analysis on Gogo
Gogo Stock Performance
Gogo stock traded down $0.23 during mid-day trading on Monday, reaching $7.58. The company had a trading volume of 321,350 shares, compared to its average volume of 1,189,429. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 17.62 and a beta of 0.93. The company has a 50 day moving average of $7.42 and a 200-day moving average of $7.68. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $11.00.
Gogo (NASDAQ:GOGO - Get Free Report) last released its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $97.80 million. During the same period last year, the business earned $0.11 earnings per share. The firm's revenue for the quarter was up 40.9% compared to the same quarter last year. On average, sell-side analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.
Insider Activity
In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. The trade was a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 26.00% of the stock is currently owned by company insiders.
About Gogo
(
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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