XTX Topco Ltd Invests $1.02 Million in Gogo Inc. $GOGO

XTX Topco Ltd purchased a new stake in shares of Gogo Inc. (NASDAQ:GOGO) during the 2nd quarter, Holdings Channel reports. The fund purchased 69,352 shares of the technology company’s stock, valued at approximately $1,018,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in shares of Gogo by 9.3% during the first quarter. Vanguard Group Inc. now owns 5,695,358 shares of the technology company’s stock worth $49,094,000 after purchasing an additional 485,145 shares during the period. William Blair Investment Management LLC increased its stake in Gogo by 124.8% in the second quarter. William Blair Investment Management LLC now owns 5,673,833 shares of the technology company’s stock valued at $83,292,000 after purchasing an additional 3,149,585 shares in the last quarter. Nantahala Capital Management LLC raised its holdings in Gogo by 38.5% in the first quarter. Nantahala Capital Management LLC now owns 3,564,797 shares of the technology company’s stock worth $30,729,000 after purchasing an additional 990,155 shares during the period. Tenzing Global Management LLC boosted its position in shares of Gogo by 31.3% during the first quarter. Tenzing Global Management LLC now owns 2,725,000 shares of the technology company’s stock worth $23,490,000 after purchasing an additional 650,000 shares in the last quarter. Finally, LB Partners LLC grew its holdings in shares of Gogo by 5.1% in the 2nd quarter. LB Partners LLC now owns 2,483,979 shares of the technology company’s stock valued at $36,465,000 after buying an additional 120,000 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Wall Street Zen lowered Gogo from a “buy” rating to a “hold” rating in a research report on Saturday, August 9th. Morgan Stanley began coverage on shares of Gogo in a report on Thursday, August 14th. They issued an “equal weight” rating and a $15.00 price target for the company. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Gogo in a report on Monday, November 24th. Two research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $14.83.

Gogo Trading Up 0.8%

Shares of NASDAQ GOGO opened at $7.14 on Monday. The stock has a market cap of $955.02 million, a P/E ratio of -142.70 and a beta of 0.90. The company has a debt-to-equity ratio of 7.79, a quick ratio of 1.40 and a current ratio of 1.74. Gogo Inc. has a 52-week low of $6.20 and a 52-week high of $16.82. The firm has a 50 day moving average price of $8.37 and a two-hundred day moving average price of $11.29.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, November 6th. The technology company reported ($0.01) EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.12). Gogo had a negative net margin of 0.65% and a positive return on equity of 71.74%. The firm had revenue of $223.59 million for the quarter, compared to the consensus estimate of $222.23 million. During the same period last year, the company posted $0.08 EPS. The business’s revenue was up 122.4% compared to the same quarter last year. Gogo has set its FY 2025 guidance at EPS. As a group, equities analysts forecast that Gogo Inc. will post 0.41 EPS for the current year.

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.