Los Angeles Capital Management LLC Sells 8,400 Shares of Gogo Inc. (NASDAQ:GOGO)

Los Angeles Capital Management LLC trimmed its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 10.7% during the third quarter, Holdings Channel.com reports. The institutional investor owned 70,316 shares of the technology company’s stock after selling 8,400 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Gogo were worth $505,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. nVerses Capital LLC acquired a new stake in Gogo in the third quarter worth $34,000. Brighton Jones LLC bought a new position in shares of Gogo during the 3rd quarter worth about $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Gogo in the 2nd quarter valued at about $107,000. AQR Capital Management LLC bought a new stake in Gogo in the 2nd quarter valued at about $108,000. Finally, SG Americas Securities LLC acquired a new position in Gogo during the 2nd quarter worth approximately $109,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Stock Down 5.9 %

GOGO stock opened at $7.54 on Friday. The firm has a market capitalization of $948.38 million, a PE ratio of 17.53 and a beta of 1.10. 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 Inc. has a twelve month low of $6.17 and a twelve month high of $11.17. The stock’s 50 day moving average is $7.11 and its 200-day moving average is $8.47.

Analysts Set New Price Targets

A number of equities research analysts have commented on GOGO shares. JPMorgan Chase & Co. reduced their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Morgan Stanley decreased their price target 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 reaffirmed a “buy” rating and issued a $15.50 price objective on shares of Gogo in a research note on Tuesday, September 17th.

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.