Gogo Inc. (NASDAQ:GOGO) Shares Sold by Blair William & Co. IL

Blair William & Co. IL cut its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 48.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 234,531 shares of the technology company's stock after selling 219,525 shares during the quarter. Blair William & Co. IL owned 0.19% of Gogo worth $1,897,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Semanteon Capital Management LP acquired a new stake in shares of Gogo during the fourth quarter valued at about $138,000. Brighton Jones LLC grew its stake in 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 purchasing an additional 6,978 shares in the last quarter. Point72 DIFC Ltd increased its holdings in Gogo by 59.8% during the 3rd quarter. Point72 DIFC Ltd now owns 19,382 shares of the technology company's stock worth $139,000 after purchasing an additional 7,252 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. boosted its stake in shares of Gogo by 110.1% during the 3rd quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,454 shares of the technology company's stock valued at $168,000 after buying an additional 12,289 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in shares of Gogo during the 3rd quarter valued at approximately $169,000. 69.60% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the purchase, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 26.00% of the stock is currently owned by corporate insiders.

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Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on GOGO. StockNews.com cut shares of Gogo from a "hold" rating to a "sell" rating in a report on Monday, March 17th. Roth Mkm cut their target price 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.

Gogo Stock Performance

Shares of NASDAQ GOGO traded down $0.83 during trading on Friday, reaching $7.44. The stock had a trading volume of 2,577,933 shares, compared to its average volume of 1,146,593. 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 $977.24 million, a PE ratio of 17.30 and a beta of 0.59. Gogo Inc. has a one year low of $6.17 and a one year high of $11.00. The firm's 50 day moving average price is $7.84 and its two-hundred day moving average price is $7.62.

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, beating the consensus estimate 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 analyst estimates of $97.80 million. During the same quarter in the previous year, the firm 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, research analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

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.