Calamos Advisors LLC Sells 13,200 Shares of Gogo Inc. (GOGO)
Calamos Advisors LLC cut its position in Gogo Inc. (NASDAQ:GOGO) by 38.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,090 shares of the company’s stock after selling 13,200 shares during the period. Calamos Advisors LLC’s holdings in Gogo were worth $177,000 as of its most recent filing with the SEC.
Several other hedge funds have also bought and sold shares of GOGO. Lazard Asset Management LLC purchased a new position in shares of Gogo during the first quarter valued at approximately $155,000. Quadrature Capital Ltd bought a new position in shares of Gogo during the first quarter worth approximately $273,000. A.R.T. Advisors LLC bought a new position in shares of Gogo during the first quarter worth approximately $2,295,000. Wellington Management Group LLP increased its position in shares of Gogo by 22.0% in the first quarter. Wellington Management Group LLP now owns 2,525,921 shares of the company’s stock worth $27,811,000 after buying an additional 455,535 shares in the last quarter. Finally, Spark Investment Management LLC bought a new position in shares of Gogo during the first quarter worth approximately $764,000. Hedge funds and other institutional investors own 74.33% of the company’s stock.
Shares of Gogo Inc. (NASDAQ:GOGO) traded down 0.82% during midday trading on Friday, hitting $10.82. 1,048,315 shares of the stock traded hands. The stock has a 50-day moving average of $11.89 and a 200-day moving average of $10.34. Gogo Inc. has a 52-week low of $7.80 and a 52-week high of $19.61. The company’s market cap is $932.42 million.
Gogo (NASDAQ:GOGO) last posted its quarterly earnings results on Thursday, August 4th. The company reported ($0.51) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by $0.11. The business earned $147.50 million during the quarter, compared to analysts’ expectations of $141.46 million. Gogo had a negative return on equity of 204.51% and a negative net margin of 22.95%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.32) earnings per share. On average, equities analysts predict that Gogo Inc. will post ($1.55) earnings per share for the current fiscal year.
A number of brokerages have commented on GOGO. Zacks Investment Research downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research note on Tuesday, July 19th. Dougherty & Co dropped their target price on shares of Gogo from $17.00 to $14.00 and set a “buy” rating on the stock in a research note on Wednesday, June 15th. Standpoint Research downgraded shares of Gogo from a “buy” rating to a “hold” rating in a research note on Thursday, August 18th. JPMorgan Chase & Co. dropped their target price on shares of Gogo from $18.00 to $17.00 and set an “overweight” rating on the stock in a research note on Friday, August 5th. Finally, Morgan Stanley dropped their target price on shares of Gogo from $11.00 to $8.00 and set an “underweight” rating on the stock in a research note on Thursday, July 28th. One analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $13.60.
In other news, Director Charles C. Townsend bought 52,867 shares of Gogo stock in a transaction on Tuesday, August 30th. The shares were bought at an average cost of $11.84 per share, with a total value of $625,945.28. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Small bought 50,000 shares of Gogo stock in a transaction on Monday, August 8th. The shares were purchased at an average cost of $10.37 per share, for a total transaction of $518,500.00. Following the completion of the purchase, the insider now directly owns 244,832 shares of the company’s stock, valued at $2,538,907.84. The disclosure for this purchase can be found here. Company insiders own 37.70% of the company’s stock.
Gogo Company Profile
Gogo Inc is a holding company. The Company is a provider of in-flight connectivity and wireless entertainment solutions for the aviation industry across the world. The Company operates through three segments: Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW) and Business Aviation (BA).
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