Gogo Inc. (NASDAQ:GOGO) Shares Purchased by Nantahala Capital Management LLC

Nantahala Capital Management LLC grew its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 441.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,574,642 shares of the technology company’s stock after purchasing an additional 2,099,145 shares during the quarter. Gogo makes up about 0.9% of Nantahala Capital Management LLC’s portfolio, making the stock its 17th biggest holding. Nantahala Capital Management LLC owned approximately 2.05% of Gogo worth $20,829,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of GOGO. Aquatic Capital Management LLC acquired a new position in Gogo during the fourth quarter worth $278,000. Price T Rowe Associates Inc. MD increased its position in Gogo by 8.9% during the fourth 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 last quarter. Hsbc Holdings PLC purchased a new position in shares of Gogo during the 4th quarter worth $116,000. MetLife Investment Management LLC increased its position in shares of Gogo by 18.3% during the 4th quarter. MetLife Investment Management LLC now owns 36,216 shares of the technology company’s stock worth $293,000 after purchasing an additional 5,613 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Gogo by 8.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,073,039 shares of the technology company’s stock valued at $8,678,000 after buying an additional 85,412 shares during the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Up 2.8 %

Shares of Gogo stock opened at $7.62 on Monday. The company has a market capitalization of $1.00 billion, a P/E ratio of 17.72 and a beta of 0.60. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The company has a 50 day moving average of $7.44 and a 200 day moving average of $7.66. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.00.

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

Insider Activity

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was acquired at an average cost of $6.57 per share, with a total value of $198,236.61. Following the purchase, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This represents a 4.43 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 26.00% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. StockNews.com lowered Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th. Roth Mkm cut their price target on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday, March 17th.

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.