Quest Partners LLC Takes Position in Gogo Inc. (NASDAQ:GOGO)

Quest Partners LLC acquired a new position in shares of Gogo Inc. (NASDAQ:GOGO) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 21,948 shares of the technology company’s stock, valued at approximately $158,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Select Equity Group L.P. acquired a new stake in Gogo in the 2nd quarter worth $2,764,000. LB Partners LLC increased its stake in Gogo by 12.4% during the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock valued at $14,683,000 after acquiring an additional 225,000 shares during the period. William Blair Investment Management LLC raised its holdings in 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 acquiring an additional 152,338 shares in the last quarter. Millennium Management LLC lifted its position in shares of Gogo by 19.0% in the 2nd quarter. Millennium Management LLC now owns 814,833 shares of the technology company’s stock worth $7,839,000 after acquiring an additional 130,344 shares during the period. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Gogo in the 2nd quarter worth approximately $757,000. Institutional investors own 69.60% of the company’s stock.

Gogo Trading Down 0.4 %

GOGO opened at $8.14 on Friday. The firm has a market cap of $1.02 billion, a PE ratio of 18.93 and a beta of 1.10. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. The firm’s fifty day moving average is $7.27 and its two-hundred day moving average is $8.38. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.17.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on GOGO shares. Morgan Stanley cut 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 reaffirmed a “buy” rating and issued a $15.50 target price on shares of Gogo in a report on Tuesday, September 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a research report on Thursday, August 8th.

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.