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

FMR LLC raised its holdings in Gogo Inc. (NASDAQ:GOGO - Free Report) by 138.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,475,009 shares of the technology company's stock after buying an additional 7,821,973 shares during the period. FMR LLC owned about 10.71% of Gogo worth $109,013,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GOGO. Diametric Capital LP purchased a new position in shares of Gogo in the 4th quarter valued at about $121,000. Brighton Jones LLC increased its stake in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock valued at $138,000 after purchasing an additional 6,978 shares during the last quarter. Semanteon Capital Management LP acquired a new stake in Gogo during the fourth quarter worth approximately $138,000. KLP Kapitalforvaltning AS purchased a new stake in shares of Gogo during the 4th quarter worth approximately $184,000. Finally, Virtu Financial LLC acquired a new position in shares of Gogo in the 3rd quarter valued at $169,000. 69.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the stock. Roth Mkm cut their price target on shares of Gogo from $15.50 to $13.00 and set a "buy" rating on the stock in a research note on Monday, March 17th. StockNews.com downgraded shares of Gogo from a "hold" rating to a "sell" rating in a research report on Monday, March 17th.

Gogo Stock Performance

GOGO traded up $0.07 during trading on Friday, hitting $6.97. The stock had a trading volume of 998,560 shares, compared to its average volume of 1,178,277. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.00. The firm has a market capitalization of $915.51 million, a P/E ratio of 16.21 and a beta of 0.60. 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 company's 50-day moving average price is $7.57 and its 200 day moving average price is $7.62.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The firm had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. During the same quarter last year, the firm earned $0.11 earnings per share. The firm's revenue was up 40.9% compared to the same quarter last year. On average, equities research analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Oakleigh Thorne acquired 30,173 shares of Gogo stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the purchase, the director now directly owns 711,341 shares of the company's stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 26.00% of the stock is currently owned by company insiders.

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.