Los Angeles Capital Management LLC Invests $757,000 in Gogo Inc. (NASDAQ:GOGO)

Los Angeles Capital Management LLC purchased a new stake in Gogo Inc. (NASDAQ:GOGO - Free Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 78,716 shares of the technology company's stock, valued at approximately $757,000. Los Angeles Capital Management LLC owned about 0.06% of Gogo as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. SG Americas Securities LLC acquired a new stake in Gogo in the 2nd quarter worth approximately $109,000. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in shares of Gogo by 67.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company's stock valued at $166,000 after buying an additional 6,941 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of Gogo in the 4th quarter valued at $203,000. State Board of Administration of Florida Retirement System raised its stake in Gogo by 12.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company's stock worth $187,000 after acquiring an additional 2,390 shares during the last quarter. Finally, Jupiter Asset Management Ltd. acquired a new stake in Gogo during the 1st quarter worth about $221,000. Hedge funds and other institutional investors own 69.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Morgan Stanley reduced their price objective on Gogo from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price target on shares of Gogo from $11.00 to $10.00 and set a "neutral" rating for the company in a research report on Thursday, August 8th.

Gogo Stock Performance

Shares of NASDAQ GOGO traded down $0.21 during trading on Friday, reaching $7.24. 2,009,091 shares of the company traded hands, compared to its average volume of 897,632. The stock has a market cap of $919.12 million, a P/E ratio of 6.37 and a beta of 1.11. The firm's fifty day simple moving average is $8.36 and its 200 day simple moving average is $8.95. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25. Gogo Inc. has a 12-month low of $6.78 and a 12-month high of $12.75.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a net margin of 16.59% and a return on equity of 145.01%. The company had revenue of $102.10 million for the quarter, compared to analysts' expectations of $99.02 million. During the same quarter in the prior year, the business posted $0.20 earnings per share. The firm's revenue was down 1.1% compared to the same quarter last year. As a group, research analysts anticipate that Gogo Inc. will post 0.35 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.