Fmr LLC Raises Stock Position in Gogo Inc. (NASDAQ:GOGO)

FMR LLC lifted its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 13.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,653,036 shares of the technology company's stock after purchasing an additional 673,315 shares during the period. FMR LLC owned approximately 4.49% of Gogo worth $40,589,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GOGO. Price T Rowe Associates Inc. MD grew its holdings in shares of Gogo by 26.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 55,236 shares of the technology company's stock valued at $485,000 after purchasing an additional 11,505 shares in the last quarter. SG Americas Securities LLC acquired a new position in Gogo during the 2nd quarter worth approximately $109,000. Bank of New York Mellon Corp grew its holdings in Gogo by 3.8% during the 2nd quarter. Bank of New York Mellon Corp now owns 675,845 shares of the technology company's stock worth $6,502,000 after acquiring an additional 24,665 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Gogo by 67.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company's stock worth $166,000 after acquiring an additional 6,941 shares in the last quarter. Finally, Los Angeles Capital Management LLC acquired a new position in Gogo during the 2nd quarter worth approximately $757,000. Institutional investors and hedge funds own 69.60% of the company's stock.

Analyst Upgrades and Downgrades

GOGO has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Gogo from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, September 3rd. Roth Mkm reiterated a "buy" rating and set a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th.

Gogo Stock Up 1.7 %

Shares of NASDAQ:GOGO traded up $0.13 during trading on Monday, hitting $7.87. 1,008,301 shares of the company were exchanged, compared to its average volume of 1,019,257. The stock has a market capitalization of $989.89 million, a P/E ratio of 18.00 and a beta of 1.18. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.17. The firm's 50 day moving average price is $7.36 and its 200-day moving average price is $8.22.

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.