Gogo Inc. (NASDAQ:GOGO) Shares Sold by SCP Investment LP

SCP Investment LP lowered its position in Gogo Inc. (NASDAQ:GOGO) by 12.7% in the third quarter, HoldingsChannel.com reports. The fund owned 960,000 shares of the technology company’s stock after selling 140,000 shares during the quarter. Gogo comprises 5.0% of SCP Investment LP’s portfolio, making the stock its 5th biggest position. SCP Investment LP’s holdings in Gogo were worth $6,893,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Board of Administration of Florida Retirement System grew its holdings in Gogo by 12.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 21,320 shares of the technology company’s stock worth $187,000 after acquiring an additional 2,390 shares during the period. Texas Permanent School Fund Corp boosted its position in shares of Gogo by 7.2% in the 2nd quarter. Texas Permanent School Fund Corp now owns 57,452 shares of the technology company’s stock worth $553,000 after purchasing an additional 3,845 shares during the last quarter. nVerses Capital LLC acquired a new stake in shares of Gogo during the third quarter worth $34,000. CANADA LIFE ASSURANCE Co increased its holdings in Gogo by 11.6% in the first quarter. CANADA LIFE ASSURANCE Co now owns 54,770 shares of the technology company’s stock valued at $481,000 after purchasing an additional 5,688 shares during the last quarter. Finally, Public Sector Pension Investment Board lifted its stake in Gogo by 4.6% in the second quarter. Public Sector Pension Investment Board now owns 134,206 shares of the technology company’s stock valued at $1,291,000 after buying an additional 5,869 shares during the period. 69.60% of the stock is owned by institutional investors and hedge funds.

Gogo Trading Up 1.5 %

Gogo stock opened at $7.90 on Wednesday. The stock has a 50-day simple moving average of $7.12 and a 200 day simple moving average of $8.45. The stock has a market capitalization of $993.66 million, a P/E ratio of 18.40 and a beta of 1.10. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $11.17.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Roth Mkm restated a “buy” rating and set a $15.50 price objective on shares of Gogo in a report on Tuesday, September 17th. JPMorgan Chase & Co. decreased their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a report on Thursday, August 8th. Finally, Morgan Stanley lowered their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd.

Gogo 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.