Gogo Inc. $GOGO Shares Sold by Royce & Associates LP

Royce & Associates LP lessened its position in Gogo Inc. (NASDAQ:GOGO) by 15.4% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 622,963 shares of the technology company’s stock after selling 112,985 shares during the period. Royce & Associates LP owned approximately 0.47% of Gogo worth $5,351,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in Gogo by 8.1% during the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 13,877 shares of the technology company’s stock worth $204,000 after purchasing an additional 1,034 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Gogo by 8.6% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 15,357 shares of the technology company’s stock valued at $225,000 after purchasing an additional 1,210 shares in the last quarter. Police & Firemen s Retirement System of New Jersey increased its position in Gogo by 9.8% during the 2nd quarter. Police & Firemen s Retirement System of New Jersey now owns 15,063 shares of the technology company’s stock worth $221,000 after purchasing an additional 1,340 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of Gogo by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,934 shares of the technology company’s stock worth $381,000 after buying an additional 1,597 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its stake in shares of Gogo by 5.1% during the 3rd quarter. State of Alaska Department of Revenue now owns 37,555 shares of the technology company’s stock worth $322,000 after buying an additional 1,815 shares in the last quarter. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Gogo Stock Performance

NASDAQ GOGO opened at $5.24 on Thursday. The business has a 50 day moving average price of $4.58 and a 200 day moving average price of $7.09. The company has a market capitalization of $705.72 million, a P/E ratio of 52.40 and a beta of 1.07. Gogo Inc. has a 1-year low of $3.85 and a 1-year high of $16.82. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24.

Gogo (NASDAQ:GOGO) last posted its earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). The firm had revenue of $230.56 million for the quarter, compared to analysts’ expectations of $222.65 million. Gogo had a return on equity of 55.95% and a net margin of 1.42%.The firm’s revenue for the quarter was up 67.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.22) earnings per share. Sell-side analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Gogo

In other Gogo news, insider Oakleigh Thorne bought 170,000 shares of the company’s stock in a transaction on Friday, December 12th. The stock was purchased at an average cost of $5.34 per share, for a total transaction of $907,800.00. Following the acquisition, the insider owned 954,098 shares of the company’s stock, valued at $5,094,883.32. The trade was a 21.68% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through the SEC website. 25.78% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GOGO shares. William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a research note on Tuesday, December 9th. Morgan Stanley set a $8.00 target price on Gogo in a report on Friday, January 16th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Gogo in a research report on Monday, December 29th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $12.25.

About Gogo

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.