Swiss National Bank Boosts Stake in Gogo Inc. (GOGO)
Swiss National Bank raised its position in Gogo Inc. (NASDAQ:GOGO) by 8.7% during the second quarter, Holdings Channel reports. The firm owned 97,200 shares of the company’s stock after buying an additional 7,800 shares during the period. Swiss National Bank owned about 0.11% of Gogo worth $816,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Lazard Asset Management LLC bought a new stake in shares of Gogo during the first quarter valued at $155,000. Quadrature Capital Ltd bought a new stake in shares of Gogo during the first quarter valued at $273,000. A.R.T. Advisors LLC bought a new stake in shares of Gogo during the first quarter valued at $2,295,000. Quantbot Technologies LP increased its stake in shares of Gogo by 29.3% in the second quarter. Quantbot Technologies LP now owns 27,845 shares of the company’s stock valued at $233,000 after buying an additional 6,307 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake 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 valued at $27,811,000 after buying an additional 455,535 shares in the last quarter. Institutional investors and hedge funds own 74.33% of the company’s stock.
Gogo Inc. (NASDAQ:GOGO) traded down 0.82% on Friday, hitting $10.82. The stock had a trading volume of 1,048,315 shares. Gogo Inc. has a one year low of $7.80 and a one year high of $19.61. The company’s market cap is $932.42 million. The stock has a 50-day moving average of $11.89 and a 200-day moving average of $10.34.
Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Thursday, August 4th. The company reported ($0.51) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.40) by $0.11. Gogo had a negative net margin of 22.95% and a negative return on equity of 204.51%. The firm earned $147.50 million during the quarter, compared to the consensus estimate of $141.46 million. During the same quarter last year, the firm posted ($0.32) earnings per share. Gogo’s revenue was up 21.7% compared to the same quarter last year. Equities analysts expect that Gogo Inc. will post ($1.55) earnings per share for the current fiscal year.
Several equities research analysts recently weighed in on the company. Standpoint Research assumed coverage on Gogo in a report on Thursday, June 23rd. They set a “buy” rating and a $14.00 price target for the company. Dougherty & Co reduced their target price on Gogo from $17.00 to $14.00 and set a “buy” rating for the company in a report on Wednesday, June 15th. Zacks Investment Research raised Gogo from a “sell” rating to a “hold” rating in a report on Wednesday, September 14th. William Blair reissued an “outperform” rating on shares of Gogo in a report on Friday, September 30th. Finally, Morgan Stanley reduced their target price on Gogo from $11.00 to $8.00 and set an “underweight” rating for the company in a report 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 stock has an average rating of “Hold” and a consensus target price of $13.60.
In other news, Director Charles C. Townsend purchased 52,867 shares of the stock in a transaction dated Tuesday, August 30th. The stock was acquired at an average cost of $11.84 per share, for a total transaction of $625,945.28. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Charles C. Townsend purchased 200,000 shares of the stock in a transaction dated Monday, August 8th. The stock was purchased at an average price of $10.73 per share, with a total value of $2,146,000.00. The disclosure for this purchase can be found here. 37.70% of the stock is owned by insiders.
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).
Want to see what other hedge funds are holding GOGO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Gogo Inc. (NASDAQ:GOGO).
Receive News & Ratings for Gogo Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gogo Inc. and related companies with MarketBeat.com's FREE daily email newsletter.