AlphaQuest LLC Sells 2,131 Shares of Gogo Inc. (NASDAQ:GOGO)

AlphaQuest LLC lessened its position in Gogo Inc. (NASDAQ:GOGO) by 9.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,817 shares of the technology company’s stock after selling 2,131 shares during the quarter. AlphaQuest LLC’s holdings in Gogo were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in GOGO. Brighton Jones LLC increased its stake in Gogo by 69.6% in the fourth quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after acquiring an additional 6,978 shares during the last quarter. Point72 DIFC Ltd increased its stake in Gogo by 59.8% in the third quarter. Point72 DIFC Ltd now owns 19,382 shares of the technology company’s stock valued at $139,000 after acquiring an additional 7,252 shares during the last quarter. Quest Partners LLC bought a new position in Gogo in the third quarter valued at $158,000. Point72 Asia Singapore Pte. Ltd. increased its stake in Gogo by 110.1% in the third quarter. Point72 Asia Singapore Pte. Ltd. now owns 23,454 shares of the technology company’s stock valued at $168,000 after acquiring an additional 12,289 shares during the last quarter. Finally, Virtu Financial LLC bought a new position in Gogo in the third quarter valued at $169,000. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Down 5.7 %

Shares of NASDAQ:GOGO opened at $6.47 on Tuesday. The stock’s 50-day moving average price is $7.75 and its 200-day moving average price is $7.56. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.00. The stock has a market capitalization of $813.79 million, a P/E ratio of 15.05 and a beta of 1.01. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last posted its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. The company had revenue of $137.80 million during the quarter, compared to analyst estimates of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. Gogo’s revenue for the quarter was up 40.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.11 earnings per share. On average, equities analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GOGO shares. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research note on Monday. Roth Mkm reduced their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research note on Monday.

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.