Jump Financial LLC Increases Stake in Gogo Inc. (NASDAQ:GOGO)

Jump Financial LLC increased its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 760.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 141,233 shares of the technology company's stock after purchasing an additional 124,818 shares during the quarter. Jump Financial LLC owned 0.11% of Gogo worth $1,143,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GOGO. Diametric Capital LP purchased a new stake in shares of Gogo in the fourth quarter worth approximately $121,000. Mariner LLC bought a new stake in shares of Gogo during the fourth quarter worth $124,000. Semanteon Capital Management LP purchased a new stake in shares of Gogo during the fourth quarter valued at $138,000. Brighton Jones LLC grew its holdings in shares of Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company's stock worth $138,000 after purchasing an additional 6,978 shares during the last quarter. Finally, Virtu Financial LLC purchased a new position in Gogo in the 3rd quarter worth about $169,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Insider Buying and Selling

In related news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction on Monday, March 17th. The shares were acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 26.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOGO shares. StockNews.com downgraded shares of Gogo from a "hold" rating to a "sell" rating in a research note on Monday, March 17th. Roth Mkm lowered their price target on Gogo from $15.50 to $13.00 and set a "buy" rating for the company in a report on Monday, March 17th.

Gogo Stock Up 2.8 %

Shares of NASDAQ GOGO traded up $0.21 during mid-day trading on Friday, reaching $7.62. 861,191 shares of the company were exchanged, compared to its average volume of 1,198,049. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.00. The firm has a 50-day moving average of $7.44 and a 200 day moving average of $7.64. The stock has a market cap of $1.00 billion, a price-to-earnings ratio of 17.72 and a beta of 0.60. 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 (NASDAQ:GOGO - Get Free Report) last released its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share 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 business had revenue of $137.80 million for the quarter, compared to analysts' expectations of $97.80 million. During the same period last year, the business earned $0.11 EPS. The company's revenue was up 40.9% compared to the same quarter last year. On average, research analysts expect that Gogo Inc. will post 0.41 earnings per share for the current year.

Gogo Company Profile

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.