SCP Investment LP reduced its position in Gogo Inc. (NASDAQ:GOGO - Free Report) by 12.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 960,000 shares of the technology company's stock after selling 140,000 shares during the quarter. Gogo makes up about 5.0% of SCP Investment LP's investment portfolio, making the stock its 5th largest holding. SCP Investment LP owned approximately 0.76% of Gogo worth $6,893,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the company. nVerses Capital LLC purchased a new position in Gogo in the 3rd quarter worth about $34,000. Brighton Jones LLC purchased a new position in shares of Gogo during the 3rd quarter valued at approximately $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in Gogo in the 2nd quarter valued at $107,000. AQR Capital Management LLC acquired a new stake in Gogo during the 2nd quarter worth $108,000. Finally, SG Americas Securities LLC purchased a new stake in Gogo in the 2nd quarter valued at about $109,000. 69.60% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. lowered their price target on Gogo from $11.00 to $10.00 and set a "neutral" rating for the company in a report on Thursday, August 8th. Roth Mkm reaffirmed a "buy" rating and issued a $15.50 price target on shares of Gogo in a report on Tuesday, September 17th. Finally, Morgan Stanley lowered their price target on Gogo from $12.00 to $11.00 and set an "equal weight" rating for the company in a report on Tuesday, September 3rd.
Check Out Our Latest Stock Report on GOGO
Gogo Stock Down 2.0 %
Shares of GOGO traded down $0.16 during trading on Wednesday, reaching $7.74. The company's stock had a trading volume of 1,245,916 shares, compared to its average volume of 1,008,721. The company has a market cap of $973.54 million, a price-to-earnings ratio of 18.40 and a beta of 1.10. The company has a fifty day moving average of $7.12 and a two-hundred day moving average of $8.44. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.17.
About Gogo
(
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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