Gogo Inc. (NASDAQ:GOGO) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. lessened its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 13.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,036 shares of the technology company’s stock after selling 10,030 shares during the quarter. Alliancebernstein L.P.’s holdings in Gogo were worth $534,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. State Street Corp boosted its stake in Gogo by 2.1% during the 3rd quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after acquiring an additional 51,681 shares during the last quarter. Barclays PLC raised its stake in shares of Gogo by 357.5% in the 3rd quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock valued at $789,000 after purchasing an additional 85,925 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Gogo during the third quarter worth about $169,000. SG Americas Securities LLC grew its stake in Gogo by 25.4% in the fourth quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock worth $286,000 after purchasing an additional 7,156 shares in the last quarter. Finally, Brighton Jones LLC grew 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 worth $138,000 after purchasing an additional 6,978 shares in the last quarter. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Gogo Price Performance

GOGO opened at $6.97 on Monday. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. The company’s 50-day moving average price is $7.55 and its 200 day moving average price is $7.64. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.00. The firm has a market cap of $915.51 million, a price-to-earnings ratio of 16.21 and a beta of 0.60.

Gogo (NASDAQ:GOGO) last posted its earnings results on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, beating the consensus estimate 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 return on equity of 121.96% and a net margin of 13.94%. The business’s revenue was up 40.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.11 earnings per share. As a group, sell-side analysts expect that Gogo Inc. will post 0.41 earnings per share for the current year.

Analyst Ratings Changes

Several analysts have issued reports on GOGO shares. StockNews.com cut Gogo from a “hold” rating to a “sell” rating in a research note on Monday, March 17th. Roth Mkm dropped their price target on Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th.

Insiders Place Their Bets

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. 26.00% of the stock is owned by corporate insiders.

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.