Royce & Associates LP Boosts Stock Position in Gogo Inc. (NASDAQ:GOGO)

Royce & Associates LP raised its holdings in Gogo Inc. (NASDAQ:GOGO) by 21.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 150,855 shares of the technology company’s stock after buying an additional 26,945 shares during the period. Royce & Associates LP owned about 0.12% of Gogo worth $1,220,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of GOGO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Gogo by 0.8% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock worth $1,496,000 after purchasing an additional 1,714 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in shares of Gogo by 0.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after buying 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 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock valued at $2,329,000 after buying an additional 5,420 shares during the last quarter. Brighton Jones LLC raised its stake in 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 acquiring an additional 6,978 shares in the last quarter. Finally, SG Americas Securities LLC lifted its position in Gogo by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock valued at $286,000 after acquiring an additional 7,156 shares during the last quarter. 69.60% of the stock is owned by hedge funds and other institutional investors.

Gogo Stock Performance

Shares of GOGO stock opened at $7.72 on Friday. Gogo Inc. has a 52-week low of $6.17 and a 52-week high of $11.00. The stock’s 50-day moving average price is $7.75 and its 200 day moving average price is $7.56. 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 stock has a market capitalization of $971.01 million, a PE ratio of 17.95 and a beta of 1.01.

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

Insider Transactions at Gogo

In other Gogo news, Director Oakleigh Thorne purchased 30,173 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were purchased at an average cost of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the purchase, the director now directly owns 711,341 shares in the company, valued at $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 26.00% of the company’s stock.

Analyst Upgrades and Downgrades

GOGO has been the subject of several research reports. StockNews.com downgraded Gogo from a “hold” rating to a “sell” rating in a report on Monday. Roth Mkm cut their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a 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.