Ewing Morris & Co. Investment Partners Ltd. Lowers Stock Position in Gogo Inc. (NASDAQ:GOGO)

Ewing Morris & Co. Investment Partners Ltd. trimmed its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 6.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 864,199 shares of the technology company’s stock after selling 63,466 shares during the quarter. Gogo makes up approximately 2.7% of Ewing Morris & Co. Investment Partners Ltd.’s investment portfolio, making the stock its 14th biggest holding. Ewing Morris & Co. Investment Partners Ltd.’s holdings in Gogo were worth $6,991,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 valued at $502,000 after acquiring an additional 5,078 shares during the period. Principal Financial Group Inc. boosted its position in Gogo by 1.9% during the fourth quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock valued at $2,329,000 after purchasing an additional 5,420 shares in the last quarter. MetLife Investment Management LLC grew its stake in Gogo by 18.3% in the fourth quarter. MetLife Investment Management LLC now owns 36,216 shares of the technology company’s stock valued at $293,000 after purchasing an additional 5,613 shares during the last quarter. Brighton Jones LLC raised its holdings in Gogo by 69.6% in the fourth 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 in the last quarter. Finally, SG Americas Securities LLC lifted its position in shares of Gogo by 25.4% during the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock valued at $286,000 after buying an additional 7,156 shares during the last quarter. Institutional investors own 69.60% of the company’s stock.

Insiders Place Their Bets

In other news, Director Oakleigh Thorne acquired 30,173 shares of Gogo stock in a transaction dated Monday, March 17th. The stock was purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the purchase, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This trade represents a 4.43 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 26.00% of the stock is currently owned by insiders.

Gogo Stock Performance

Shares of Gogo stock opened at $7.57 on Friday. The company has a 50 day moving average price of $7.44 and a 200 day moving average price of $7.69. The firm has a market capitalization of $1.00 billion, a P/E ratio of 17.60 and a beta of 0.93. 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 52 week low of $6.17 and a 52 week high of $11.00.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The business had revenue of $137.80 million during the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter last year, the company posted $0.11 earnings per share. Sell-side analysts expect that Gogo Inc. will post 0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm decreased their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 17th.

About Gogo

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.