Algert Global LLC Buys 76,590 Shares of Gogo Inc. (NASDAQ:GOGO)

Algert Global LLC lifted its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 174.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 120,500 shares of the technology company's stock after buying an additional 76,590 shares during the quarter. Algert Global LLC owned about 0.10% of Gogo worth $865,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. nVerses Capital LLC purchased a new stake in Gogo in the third quarter worth about $34,000. Brighton Jones LLC purchased a new stake in Gogo in the third quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Gogo in the second quarter worth about $107,000. AQR Capital Management LLC purchased a new stake in Gogo in the second quarter worth about $108,000. Finally, SG Americas Securities LLC purchased a new stake in Gogo in the second quarter worth about $109,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Gogo from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. Roth Mkm reiterated a "buy" rating and set a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th. Finally, Morgan Stanley cut their price target on shares of Gogo from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 3rd.

Gogo Stock Down 1.4 %

Shares of NASDAQ:GOGO traded down $0.11 during trading on Friday, reaching $8.03. 984,417 shares of the stock traded hands, compared to its average volume of 1,006,862. The stock has a 50-day moving average of $7.29 and a two-hundred day moving average of $8.36. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.17. 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 cap of $1.01 billion, a P/E ratio of 18.67 and a beta of 1.10.

Gogo 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.