Louisiana State Employees Retirement System Purchases Shares of 30,900 Gogo Inc. (NASDAQ:GOGO)

Louisiana State Employees Retirement System acquired a new position in shares of Gogo Inc. (NASDAQ:GOGO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 30,900 shares of the technology company’s stock, valued at approximately $313,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC acquired a new position in Gogo in the third quarter worth about $177,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Gogo by 52.8% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 10,344 shares of the technology company’s stock worth $123,000 after buying an additional 3,574 shares in the last quarter. Skylands Capital LLC lifted its position in shares of Gogo by 49.5% during the 3rd quarter. Skylands Capital LLC now owns 71,700 shares of the technology company’s stock worth $855,000 after buying an additional 23,750 shares during the period. SCP Investment LP boosted its stake in Gogo by 40.3% in the 3rd quarter. SCP Investment LP now owns 905,000 shares of the technology company’s stock valued at $10,797,000 after buying an additional 260,000 shares in the last quarter. Finally, Capula Management Ltd bought a new stake in Gogo in the third quarter valued at $950,000. 69.60% of the stock is owned by institutional investors.

Insider Activity at Gogo

In other news, Director Charles C. Townsend acquired 28,857 shares of the firm’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $9.03 per share, for a total transaction of $260,578.71. Following the transaction, the director now owns 1,740,588 shares of the company’s stock, valued at $15,717,509.64. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Charles C. Townsend bought 28,857 shares of the company’s stock in a transaction dated Thursday, March 14th. The stock was bought at an average price of $9.03 per share, for a total transaction of $260,578.71. Following the completion of the transaction, the director now directly owns 1,740,588 shares in the company, valued at approximately $15,717,509.64. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Harris N. Williams purchased 12,000 shares of the business’s stock in a transaction dated Thursday, February 29th. The shares were purchased at an average cost of $8.10 per share, for a total transaction of $97,200.00. Following the purchase, the director now directly owns 20,990 shares of the company’s stock, valued at $170,019. The disclosure for this purchase can be found here. 26.00% of the stock is currently owned by company insiders.

Gogo Stock Performance

Shares of NASDAQ:GOGO opened at $9.06 on Thursday. The business has a fifty day moving average of $8.60 and a 200-day moving average of $9.48. The company has a debt-to-equity ratio of 14.43, a quick ratio of 3.49 and a current ratio of 4.37. Gogo Inc. has a twelve month low of $7.53 and a twelve month high of $17.94. The firm has a market cap of $1.16 billion, a PE ratio of 8.31 and a beta of 1.08.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm had revenue of $97.81 million during the quarter, compared to analysts’ expectations of $96.56 million. During the same quarter last year, the company posted $0.21 EPS. The company’s quarterly revenue was down 9.6% compared to the same quarter last year. On average, equities research analysts predict that Gogo Inc. will post 0.36 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. JPMorgan Chase & Co. started coverage on shares of Gogo in a research note on Thursday, February 29th. They issued a “neutral” rating and a $11.00 target price on the stock. Morgan Stanley decreased their price objective on shares of Gogo from $15.00 to $12.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 16th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Gogo currently has a consensus rating of “Hold” and a consensus target price of $15.30.

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.