Hsbc Holdings PLC Purchases New Position in Gogo Inc. (NASDAQ:GOGO)

Hsbc Holdings PLC purchased a new stake in shares of Gogo Inc. (NASDAQ:GOGO) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 14,659 shares of the technology company’s stock, valued at approximately $116,000.

A number of other large investors have also added to or reduced their stakes in GOGO. Diametric Capital LP purchased a new position in shares of Gogo in the fourth quarter valued at $121,000. Mariner LLC bought a new position in Gogo during the fourth quarter valued at $124,000. Semanteon Capital Management LP purchased a new position in shares of Gogo in the 4th quarter worth $138,000. Brighton Jones LLC increased its holdings in shares of Gogo by 69.6% in the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock worth $138,000 after buying an additional 6,978 shares during the last quarter. Finally, KLP Kapitalforvaltning AS bought a new position in shares of Gogo in the 4th quarter valued at about $184,000. Institutional investors own 69.60% of the company’s stock.

Gogo Stock Up 45.0%

Shares of NASDAQ GOGO opened at $10.98 on Monday. Gogo Inc. has a 1 year low of $6.17 and a 1 year high of $11.34. The firm has a 50-day simple moving average of $7.52 and a two-hundred day simple moving average of $7.73. The company has a market cap of $1.45 billion, a P/E ratio of 25.53 and a beta of 0.93. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81.

Gogo (NASDAQ:GOGO) last posted its quarterly earnings data on Friday, May 9th. The technology company reported $0.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.05 by $0.13. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company had revenue of $230.31 million during the quarter, compared to analysts’ expectations of $214.93 million. During the same quarter in the previous year, the business earned $0.23 EPS. Gogo’s revenue was up 120.8% compared to the same quarter last year. Research analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have weighed in on GOGO. 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, March 17th. StockNews.com downgraded Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th.

Insider Transactions at Gogo

In related news, Director Oakleigh Thorne acquired 30,173 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was bought at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the acquisition, the director now directly owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This represents a 4.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 26.00% of the company’s stock.

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.