Yarra Square Partners LP Sells 76,112 Shares of Gogo Inc. (NASDAQ:GOGO)

Yarra Square Partners LP decreased its position in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 14.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 441,388 shares of the technology company's stock after selling 76,112 shares during the period. Gogo makes up 3.8% of Yarra Square Partners LP's holdings, making the stock its 11th biggest position. Yarra Square Partners LP owned 0.35% of Gogo worth $4,246,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Gogo in the second quarter worth $109,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Gogo by 67.1% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,285 shares of the technology company's stock worth $166,000 after purchasing an additional 6,941 shares during the period. State Board of Administration of Florida Retirement System increased its position in shares of Gogo by 12.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company's stock worth $187,000 after purchasing an additional 2,390 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Gogo in the fourth quarter worth $203,000. Finally, Jupiter Asset Management Ltd. bought a new position in shares of Gogo in the first quarter worth $221,000. Institutional investors own 69.60% of the company's stock.

Analysts Set New Price Targets

GOGO has been the subject of several research analyst reports. Morgan Stanley lowered their target price 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. Roth Mkm reissued a "buy" rating and set a $15.50 target price on shares of Gogo in a research note on Tuesday, September 17th. Finally, JPMorgan Chase & Co. lowered their target price on Gogo from $11.00 to $10.00 and set a "neutral" rating for the company in a research note on Thursday, August 8th.

Gogo Price Performance

NASDAQ GOGO traded up $0.01 during trading on Friday, hitting $6.89. 1,862,863 shares of the company's stock were exchanged, compared to its average volume of 903,525. 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 $875.75 million, a PE ratio of 5.89 and a beta of 1.11. Gogo Inc. has a fifty-two week low of $6.72 and a fifty-two week high of $12.61. The stock's 50 day moving average price is $8.06 and its two-hundred day moving average price is $8.89.

Gogo (NASDAQ:GOGO - Get Free Report) last released 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). The firm had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. Gogo had a return on equity of 145.01% and a net margin of 16.59%. The business's revenue for the quarter was down 1.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.20 earnings per share. Research analysts expect that Gogo Inc. will post 0.35 EPS for the current year.

Gogo 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.