Russell Investments Group Ltd. Has $526,000 Stock Position in Gogo Inc. (NASDAQ:GOGO)

Russell Investments Group Ltd. cut its holdings in shares of Gogo Inc. (NASDAQ:GOGOFree Report) by 35.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,965 shares of the technology company’s stock after selling 28,135 shares during the quarter. Russell Investments Group Ltd.’s holdings in Gogo were worth $526,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Louisiana State Employees Retirement System acquired a new position in Gogo during the 4th quarter valued at $313,000. LB Partners LLC bought a new position in shares of Gogo during the 4th quarter worth about $14,655,000. Ballentine Partners LLC acquired a new position in shares of Gogo during the fourth quarter valued at about $140,000. Kennedy Capital Management LLC lifted its stake in shares of Gogo by 21.9% in the third quarter. Kennedy Capital Management LLC now owns 538,046 shares of the technology company’s stock valued at $6,419,000 after buying an additional 96,775 shares during the period. Finally, Hodges Capital Management Inc. acquired a new stake in Gogo during the third quarter worth about $358,000. 69.60% of the stock is owned by institutional investors.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

View Our Latest Analysis on GOGO

Gogo Trading Up 0.2 %

GOGO stock opened at $10.84 on Wednesday. Gogo Inc. has a 1-year low of $7.53 and a 1-year high of $17.94. The company has a current ratio of 4.20, a quick ratio of 3.33 and a debt-to-equity ratio of 9.39. The business’s 50 day moving average is $9.00 and its 200-day moving average is $9.38. The firm has a market cap of $1.38 billion, a P/E ratio of 9.26 and a beta of 1.04.

Gogo (NASDAQ:GOGOGet Free Report) last announced its quarterly earnings results on Wednesday, February 28th. The technology company reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. The firm had revenue of $97.81 million for the quarter, compared to analysts’ expectations of $96.56 million. Gogo had a return on equity of 229.65% and a net margin of 38.61%. The business’s revenue was down 9.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.21 earnings per share. Equities analysts anticipate that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

About Gogo

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding GOGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gogo Inc. (NASDAQ:GOGOFree Report).

Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

Receive News & Ratings for Gogo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo and related companies with MarketBeat.com's FREE daily email newsletter.