Geode Capital Management LLC Acquires 7,777 Shares of Gogo Inc. (NASDAQ:GOGO)

Geode Capital Management LLC raised its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 0.5% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 1,499,410 shares of the technology company’s stock after acquiring an additional 7,777 shares during the period. Geode Capital Management LLC’s holdings in Gogo were worth $12,133,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Barclays PLC grew its holdings in shares of Gogo by 357.5% during the third quarter. Barclays PLC now owns 109,959 shares of the technology company’s stock worth $789,000 after purchasing an additional 85,925 shares in the last quarter. Van ECK Associates Corp lifted its position in Gogo by 256.1% during the fourth 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. State Street Corp lifted its position in Gogo by 2.1% during the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the last quarter. Amundi grew its stake in Gogo by 142.9% in the 4th quarter. Amundi now owns 26,387 shares of the technology company’s stock worth $200,000 after buying an additional 15,525 shares in the last quarter. Finally, 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 worth $17,969,000 after buying an additional 176,092 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

GOGO has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th. Roth Mkm cut their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a report on Monday, March 17th.

Gogo Trading Down 2.6 %

Shares of GOGO opened at $6.79 on Tuesday. 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 $891.87 million, a price-to-earnings ratio of 15.79 and a beta of 0.60. The firm has a 50 day moving average price of $7.54 and a 200-day moving average price of $7.64. 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 (NASDAQ:GOGO) last posted its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business had revenue of $137.80 million during the quarter, compared to the consensus estimate of $97.80 million. During the same period in the previous year, the firm posted $0.11 earnings per share. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. As a group, equities research analysts forecast that Gogo Inc. will post 0.41 earnings per share for the current year.

Insider Activity

In other news, Director Oakleigh Thorne bought 30,173 shares of the business’s stock in a transaction dated Monday, March 17th. The shares were purchased at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the acquisition, the director now owns 711,341 shares of the company’s stock, valued at approximately $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 26.00% of the stock is currently owned by corporate insiders.

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.