William Blair Investment Management LLC Acquires 152,338 Shares of Gogo Inc. (NASDAQ:GOGO)

William Blair Investment Management LLC raised its holdings in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 7.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,073,693 shares of the technology company's stock after acquiring an additional 152,338 shares during the period. William Blair Investment Management LLC owned about 1.63% of Gogo worth $19,949,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in GOGO. Charles Schwab Investment Management Inc. increased its holdings in shares of Gogo by 0.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 509,592 shares of the technology company's stock worth $5,162,000 after buying an additional 1,735 shares during the period. State Board of Administration of Florida Retirement System boosted its stake in shares of Gogo by 12.6% during the first quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company's stock valued at $187,000 after purchasing an additional 2,390 shares during the period. Texas Permanent School Fund Corp grew its holdings in shares of Gogo by 7.2% in the second quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company's stock worth $553,000 after purchasing an additional 3,845 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its stake in shares of Gogo by 11.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company's stock worth $481,000 after buying an additional 5,688 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC raised its holdings in Gogo by 15.8% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 45,233 shares of the technology company's stock valued at $458,000 after buying an additional 6,179 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GOGO shares. JPMorgan Chase & Co. cut their price target on shares of Gogo from $11.00 to $10.00 and set a "neutral" rating on the stock in a report on Thursday, August 8th. 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 research report on Tuesday, September 3rd.

Gogo Trading Down 5.1 %

NASDAQ GOGO traded down $0.37 during trading on Monday, hitting $6.87. The company had a trading volume of 1,062,064 shares, compared to its average volume of 898,555. The company's fifty day moving average is $8.31 and its 200-day moving average is $8.95. Gogo Inc. has a one year low of $6.74 and a one year high of $12.75. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25. The company has a market cap of $872.15 million, a price-to-earnings ratio of 5.79 and a beta of 1.11.

Gogo (NASDAQ:GOGO - Get Free Report) last issued its quarterly earnings data on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The company had revenue of $102.10 million during the quarter, compared to analysts' expectations of $99.02 million. During the same quarter last year, the business earned $0.20 earnings per share. The business's quarterly revenue was down 1.1% on a year-over-year basis. On average, sell-side analysts predict that Gogo Inc. will post 0.35 earnings per share for the current 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.