Intech Investment Management LLC purchased a new position in Gogo Inc. (NASDAQ:GOGO - Free Report) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 103,021 shares of the technology company's stock, valued at approximately $740,000. Intech Investment Management LLC owned 0.08% of Gogo as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Texas Permanent School Fund Corp increased its position in shares of Gogo by 7.2% during the second quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company's stock worth $553,000 after acquiring an additional 3,845 shares during the last quarter. nVerses Capital LLC purchased a new stake in Gogo during the 3rd quarter worth approximately $34,000. CANADA LIFE ASSURANCE Co raised its position in shares of Gogo by 11.6% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company's stock valued at $481,000 after purchasing an additional 5,688 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in shares of Gogo by 4.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company's stock valued at $1,291,000 after buying an additional 5,869 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in shares of Gogo by 29.0% during the second quarter. Point72 Asset Management L.P. now owns 30,700 shares of the technology company's stock worth $295,000 after buying an additional 6,900 shares in the last quarter. Institutional investors and hedge funds own 69.60% of the company's stock.
Wall Street Analyst Weigh In
Several analysts recently issued reports on GOGO shares. Morgan Stanley cut their price target on shares of Gogo from $12.00 to $11.00 and set an "equal weight" rating on the stock in a report on Tuesday, September 3rd. Roth Mkm restated a "buy" rating and issued a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. decreased their price target on Gogo from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th.
Check Out Our Latest Analysis on Gogo
Gogo Stock Performance
GOGO traded down $0.11 during trading hours on Friday, hitting $8.03. 984,417 shares of the stock were exchanged, compared to its average volume of 1,006,862. The stock has a market cap of $1.01 billion, a price-to-earnings ratio of 18.67 and a beta of 1.10. The stock has a 50-day simple moving average of $7.29 and a 200-day simple moving average of $8.35. 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.
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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