Gogo Inc. (NASDAQ:GOGO) Shares Bought by Royce & Associates LP

Royce & Associates LP grew its position in Gogo Inc. (NASDAQ:GOGO) by 21.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,855 shares of the technology company’s stock after buying an additional 26,945 shares during the quarter. Royce & Associates LP’s holdings in Gogo were worth $1,220,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Gogo by 0.8% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock valued at $1,496,000 after acquiring an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after purchasing an additional 3,181 shares in the last quarter. Principal Financial Group Inc. grew its position in shares of Gogo by 1.9% in 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 during the last quarter. Brighton Jones LLC increased its stake in shares of Gogo by 69.6% during 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 in the last quarter. Finally, SG Americas Securities LLC raised its position in shares of Gogo by 25.4% during the 4th quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock worth $286,000 after purchasing an additional 7,156 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Stock Up 0.3 %

Shares of NASDAQ GOGO opened at $7.72 on Friday. The firm has a market cap of $971.01 million, a P/E ratio of 17.95 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.00. The firm’s 50 day moving average price is $7.75 and its 200 day moving average price is $7.56.

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

Insider Activity

In other news, Director Oakleigh Thorne purchased 30,173 shares of the stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the transaction, the director now owns 711,341 shares in the company, 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 document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 26.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on GOGO shares. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a report on Monday. Roth Mkm dropped their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday.

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.