Charles Schwab Investment Management Inc. Sells 2,810 Shares of Gogo Inc. (NASDAQ:GOGO)

Charles Schwab Investment Management Inc. cut its stake in Gogo Inc. (NASDAQ:GOGO) by 0.5% in the fourth quarter, HoldingsChannel reports. The fund owned 554,922 shares of the technology company’s stock after selling 2,810 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Gogo were worth $4,489,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Brighton Jones LLC boosted 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 lifted 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 buying an additional 7,252 shares during the period. Quest Partners LLC bought a new position in Gogo during the third quarter worth about $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 purchasing an additional 12,289 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Gogo in the 3rd quarter valued at $169,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GOGO shares. Roth Mkm decreased their price objective on Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research report on Monday, March 17th. StockNews.com lowered shares of Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th.

Insider Activity at Gogo

In other news, Director Oakleigh Thorne bought 30,173 shares of the stock in a transaction that occurred on Monday, March 17th. The shares were acquired at an average cost 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 in the company, valued at approximately $4,673,510.37. This represents a 4.43 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 26.00% of the stock is owned by company insiders.

Gogo Trading Up 4.9 %

NASDAQ:GOGO opened at $8.62 on Wednesday. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07. Gogo Inc. has a twelve month low of $6.17 and a twelve month high of $11.00. The company has a market cap of $1.13 billion, a P/E ratio of 20.05 and a beta of 1.01. The business has a 50 day moving average price of $7.80 and a two-hundred day moving average price of $7.56.

Gogo (NASDAQ:GOGO) last released its earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, beating analysts’ consensus estimates 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 quarter last year, the firm earned $0.11 earnings per share. The firm’s revenue for the quarter was up 40.9% compared to the same quarter last year. As a group, analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal year.

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.