UBS Group AG Purchases 122,706 Shares of Gogo Inc. $GOGO

UBS Group AG increased its position in Gogo Inc. (NASDAQ:GOGO) by 32.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 500,807 shares of the technology company’s stock after acquiring an additional 122,706 shares during the quarter. UBS Group AG owned about 0.37% of Gogo worth $2,334,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. William Blair Investment Management LLC raised its holdings in Gogo by 6.9% in the 3rd quarter. William Blair Investment Management LLC now owns 6,067,663 shares of the technology company’s stock worth $52,121,000 after acquiring an additional 393,830 shares during the period. Hussman Strategic Advisors Inc. acquired a new stake in Gogo in the 3rd quarter worth $2,345,000. Tudor Investment Corp ET AL grew its position in Gogo by 1,095.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 705,968 shares of the technology company’s stock worth $6,064,000 after purchasing an additional 646,894 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Gogo in the 3rd quarter worth $1,403,000. Finally, Brighton Jones LLC grew its position in Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after purchasing an additional 6,978 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

NASDAQ GOGO opened at $4.70 on Thursday. The company has a debt-to-equity ratio of 6.89, a current ratio of 1.66 and a quick ratio of 1.27. The firm has a market capitalization of $635.63 million, a price-to-earnings ratio of 42.73 and a beta of 1.06. The company’s fifty day moving average is $4.32 and its two-hundred day moving average is $4.91. Gogo Inc. has a 52-week low of $3.81 and a 52-week high of $16.82.

Gogo (NASDAQ:GOGO) last issued its earnings results on Friday, February 27th. The technology company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of $0.02 by ($0.09). Gogo had a net margin of 1.54% and a return on equity of 37.53%. The business had revenue of $230.56 million for the quarter, compared to analyst estimates of $222.65 million. During the same quarter last year, the firm posted ($0.22) earnings per share. Gogo’s revenue was up 67.3% on a year-over-year basis. Equities research analysts forecast that Gogo Inc. will post 0.28 EPS for the current year.

Insider Buying and Selling at Gogo

In other Gogo news, Director Charles C. Townsend bought 158,591 shares of the firm’s stock in a transaction dated Thursday, March 12th. The shares were acquired at an average cost of $4.57 per share, for a total transaction of $724,760.87. Following the transaction, the director owned 418,686 shares in the company, valued at approximately $1,913,395.02. The trade was a 60.97% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 25.60% of the company’s stock.

Analysts Set New Price Targets

GOGO has been the topic of several research analyst reports. Morgan Stanley decreased their price target on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. Roth Mkm set a $12.00 price target on shares of Gogo in a research report on Thursday, May 7th. Finally, Weiss Ratings upgraded shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $9.50.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.