Capco Asset Management LLC Raises Stake in Gogo Inc. (NASDAQ:GOGO)

Capco Asset Management LLC boosted its position in shares of Gogo Inc. (NASDAQ:GOGO) by 22.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,009,743 shares of the technology company’s stock after acquiring an additional 544,178 shares during the period. Gogo accounts for about 5.5% of Capco Asset Management LLC’s investment portfolio, making the stock its 9th largest position. Capco Asset Management LLC’s holdings in Gogo were worth $24,349,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GOGO. FMR LLC raised its stake in Gogo by 13.5% during the 3rd quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after acquiring an additional 673,315 shares during the period. Weiss Asset Management LP bought a new stake in Gogo during the 3rd quarter worth approximately $3,031,000. William Blair Investment Management LLC raised its stake in Gogo by 15.8% during the 4th quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock worth $19,613,000 after acquiring an additional 330,961 shares during the period. Dynamic Technology Lab Private Ltd raised its stake in Gogo by 612.1% during the 3rd quarter. Dynamic Technology Lab Private Ltd now owns 253,114 shares of the technology company’s stock worth $1,817,000 after acquiring an additional 217,570 shares during the period. Finally, LB Partners LLC raised its stake in Gogo by 8.6% during the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock worth $17,969,000 after acquiring an additional 176,092 shares during the period. Institutional investors own 69.60% of the company’s stock.

Insider Activity at Gogo

In other Gogo news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was purchased at an average cost of $6.57 per share, with a total value of $198,236.61. Following the completion of the acquisition, the director now owns 711,341 shares in the company, valued at $4,673,510.37. This trade represents a 4.43 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 26.00% of the stock is currently owned by insiders.

Gogo Trading Down 3.9 %

Gogo stock opened at $7.42 on Friday. The stock has a market cap of $933.28 million, a P/E ratio of 17.26 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.00. The firm’s 50 day moving average price is $7.75 and its 200-day moving average price is $7.56.

Gogo (NASDAQ:GOGO) last released its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share (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 firm had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. During the same quarter last year, the business posted $0.11 earnings per share. The company’s revenue for the quarter was up 40.9% compared to the same quarter last year. On average, equities analysts predict that Gogo Inc. will post 0.41 earnings per share for the current fiscal year.

Analysts Set New Price Targets

GOGO has been the topic of a number of recent analyst reports. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. Roth Mkm reduced their price objective on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report 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.