Capco Asset Management LLC boosted its stake in Gogo Inc. (NASDAQ:GOGO - Free Report) by 22.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,009,743 shares of the technology company's stock after purchasing an additional 544,178 shares during the period. Gogo comprises about 5.5% of Capco Asset Management LLC's holdings, making the stock its 9th largest holding. Capco Asset Management LLC owned about 2.39% of Gogo worth $24,349,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently modified their holdings of GOGO. American Century Companies Inc. grew its stake in shares of Gogo by 11.5% in the fourth quarter. American Century Companies Inc. now owns 147,757 shares of the technology company's stock worth $1,195,000 after purchasing an additional 15,282 shares during the last quarter. Semanteon Capital Management LP acquired a new position in shares of Gogo during the 4th quarter valued at $138,000. William Blair Investment Management LLC raised its stake in Gogo by 15.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company's stock worth $19,613,000 after buying an additional 330,961 shares during the period. Royce & Associates LP grew its position in Gogo by 21.7% in the 4th quarter. Royce & Associates LP now owns 150,855 shares of the technology company's stock valued at $1,220,000 after purchasing an additional 26,945 shares during the period. Finally, Net Worth Advisory Group bought a new stake in shares of Gogo during the fourth quarter worth about $209,000. Institutional investors and hedge funds own 69.60% of the company's stock.
Wall Street Analyst Weigh In
Several brokerages have recently commented on GOGO. Roth Mkm lowered their target price on shares of Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th. StockNews.com lowered Gogo from a "hold" rating to a "sell" rating in a research note on Monday, March 17th.
View Our Latest Report on GOGO
Insider Buying and Selling
In related news, Director Oakleigh Thorne acquired 30,173 shares of the company's stock in a transaction dated Monday, March 17th. The shares were purchased at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now directly owns 711,341 shares of the company's stock, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 26.00% of the stock is currently owned by company insiders.
Gogo Price Performance
Shares of Gogo stock traded up $0.08 on Wednesday, hitting $8.70. 1,783,554 shares of the company traded hands, compared to its average volume of 1,112,148. 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 $1.14 billion, a P/E ratio of 20.23 and a beta of 1.01. The business has a 50-day simple moving average of $7.80 and a 200 day simple moving average of $7.56. 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 issued its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. The firm had revenue of $137.80 million for the quarter, compared to the consensus estimate of $97.80 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company's revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. Research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.
Gogo Profile
(
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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