American Century Companies Inc. Boosts Position in Gogo Inc. (NASDAQ:GOGO)

American Century Companies Inc. raised its stake in Gogo Inc. (NASDAQ:GOGO) by 11.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 147,757 shares of the technology company’s stock after purchasing an additional 15,282 shares during the period. American Century Companies Inc.’s holdings in Gogo were worth $1,195,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. William Blair Investment Management LLC lifted its stake in Gogo by 15.8% in the fourth quarter. William Blair Investment Management LLC now owns 2,424,378 shares of the technology company’s stock valued at $19,613,000 after buying an additional 330,961 shares during the last quarter. LB Partners LLC increased its holdings in shares of Gogo by 8.6% in the 4th quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock valued at $17,969,000 after acquiring an additional 176,092 shares during the period. Van ECK Associates Corp raised its position in Gogo by 256.1% in the 4th quarter. Van ECK Associates Corp now owns 154,706 shares of the technology company’s stock valued at $1,252,000 after purchasing an additional 111,267 shares during the last quarter. Barclays PLC boosted its stake in Gogo by 357.5% during the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock worth $789,000 after purchasing an additional 85,925 shares during the period. Finally, Victory Capital Management Inc. grew its position in Gogo by 506.8% during the 4th quarter. Victory Capital Management Inc. now owns 66,323 shares of the technology company’s stock worth $537,000 after purchasing an additional 55,393 shares during the last quarter. Institutional investors and hedge funds own 69.60% of the company’s stock.

Insider Activity

In other news, Director Oakleigh Thorne bought 30,173 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the transaction, the director now owns 711,341 shares in the company, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 26.00% of the company’s stock.

Gogo Price Performance

GOGO stock opened at $7.11 on Friday. The company has a market cap of $933.90 million, a PE ratio of 16.53 and a beta of 0.60. The company has a current ratio of 3.58, a quick ratio of 2.81 and a debt-to-equity ratio of 11.07. The stock has a 50-day moving average price of $7.68 and a two-hundred day moving average price of $7.62. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.00.

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

Wall Street Analysts Forecast Growth

Several research firms have commented on GOGO. Roth Mkm reduced their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday, March 17th. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research note 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.