Cubist Systematic Strategies LLC Sells 100,152 Shares of Gogo Inc. (NASDAQ:GOGO)

Cubist Systematic Strategies LLC trimmed its holdings in Gogo Inc. (NASDAQ:GOGO) by 52.1% in the 4th quarter, HoldingsChannel reports. The firm owned 92,112 shares of the technology company’s stock after selling 100,152 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in Gogo were worth $745,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Jane Street Group LLC boosted its stake in Gogo by 36.0% in the 4th quarter. Jane Street Group LLC now owns 233,746 shares of the technology company’s stock worth $1,891,000 after purchasing an additional 61,837 shares during the period. One68 Global Capital LLC bought a new position in Gogo in the 4th quarter worth approximately $375,000. Nantahala Capital Management LLC boosted its stake in Gogo by 441.5% in the 4th quarter. Nantahala Capital Management LLC now owns 2,574,642 shares of the technology company’s stock worth $20,829,000 after purchasing an additional 2,099,145 shares during the period. Aquatic Capital Management LLC bought a new position in Gogo in the 4th quarter worth approximately $278,000. Finally, Price T Rowe Associates Inc. MD boosted its stake in Gogo by 8.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 62,032 shares of the technology company’s stock worth $502,000 after purchasing an additional 5,078 shares during the period. 69.60% of the stock is currently owned by institutional investors.

Insider Transactions at Gogo

In other news, Director Oakleigh Thorne acquired 30,173 shares of the firm’s stock in a transaction dated Monday, March 17th. The shares were acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the acquisition, the director now directly owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. The trade was a 4.43% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on GOGO. StockNews.com upgraded Gogo from a “sell” rating to a “hold” rating in a research note on Monday. Roth Mkm decreased their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a report on Monday, March 17th.

Gogo Stock Up 2.8%

Shares of GOGO opened at $12.19 on Thursday. The stock has a market capitalization of $1.61 billion, a price-to-earnings ratio of 28.35 and a beta of 0.93. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $12.90. The business’s 50 day simple moving average is $7.73 and its 200-day simple moving average is $7.79. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.05 by $0.13. The business had revenue of $230.31 million for the quarter, compared to analysts’ expectations of $214.93 million. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company’s revenue for the quarter was up 120.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.23 EPS. As a group, equities analysts expect that Gogo Inc. will post 0.41 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.