Millennium Management LLC Has $7.84 Million Stock Position in Gogo Inc. (NASDAQ:GOGO)

Millennium Management LLC grew its stake in shares of Gogo Inc. (NASDAQ:GOGO - Free Report) by 19.0% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 814,833 shares of the technology company's stock after purchasing an additional 130,344 shares during the quarter. Millennium Management LLC owned about 0.64% of Gogo worth $7,839,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Capstone Investment Advisors LLC acquired a new position in Gogo during the first quarter worth $736,000. William Blair Investment Management LLC raised its holdings in shares of Gogo by 7.9% in the 2nd quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company's stock valued at $19,949,000 after purchasing an additional 152,338 shares during the period. State Board of Administration of Florida Retirement System grew its holdings in 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 worth $187,000 after purchasing an additional 2,390 shares during the period. SG Americas Securities LLC acquired a new position in Gogo during the second quarter worth approximately $109,000. Finally, Price T Rowe Associates Inc. MD increased its position in Gogo by 26.3% during the first quarter. Price T Rowe Associates Inc. MD now owns 55,236 shares of the technology company's stock worth $485,000 after buying an additional 11,505 shares during the last quarter. Institutional investors own 69.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GOGO. JPMorgan Chase & Co. dropped their price target on Gogo from $11.00 to $10.00 and set a "neutral" rating on the stock in a research note on Thursday, August 8th. Morgan Stanley cut their target price on shares of Gogo from $12.00 to $11.00 and set an "equal weight" rating for the company in a research note on Tuesday, September 3rd. Finally, Roth Mkm reiterated a "buy" rating and issued a $15.50 price target on shares of Gogo in a research note on Tuesday, September 17th.

Gogo Stock Performance

Shares of GOGO stock traded down $0.15 on Thursday, hitting $6.36. The company's stock had a trading volume of 1,565,057 shares, compared to its average volume of 922,478. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $12.01. The company has a market capitalization of $808.39 million, a PE ratio of 5.44 and a beta of 1.09. The stock's 50 day moving average is $7.33 and its 200-day moving average is $8.69. The company has a debt-to-equity ratio of 11.25, a quick ratio of 3.16 and a current ratio of 3.95.

Gogo (NASDAQ:GOGO - Get Free Report) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.07 by ($0.06). The business had revenue of $102.10 million for the quarter, compared to analyst estimates 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 in the previous year, the company earned $0.20 EPS. Equities research analysts expect that Gogo Inc. will post 0.35 earnings per share for the current fiscal 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.