Nomura Holdings Inc. Purchases New Stake in Gogo Inc. (GOGO)
Nomura Holdings Inc. purchased a new position in shares of Gogo Inc. (NASDAQ:GOGO) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 91,815 shares of the technology company’s stock, valued at approximately $1,061,000. Nomura Holdings Inc. owned approximately 0.11% of Gogo as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in GOGO. Principal Financial Group Inc. purchased a new position in Gogo during the first quarter worth $114,000. Parkwood LLC increased its position in Gogo by 16.2% during the second quarter. Parkwood LLC now owns 12,888 shares of the technology company’s stock worth $149,000 after buying an additional 1,799 shares in the last quarter. Legal & General Group Plc increased its position in Gogo by 12.3% during the first quarter. Legal & General Group Plc now owns 14,770 shares of the technology company’s stock worth $163,000 after buying an additional 1,612 shares in the last quarter. Fox Run Management L.L.C. purchased a new position in Gogo during the second quarter worth $180,000. Finally, Laurion Capital Management LP purchased a new position in Gogo during the second quarter worth $223,000. 66.50% of the stock is owned by institutional investors.
Several equities analysts have weighed in on the company. BidaskClub downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 11th. Zacks Investment Research downgraded Gogo from a “hold” rating to a “sell” rating in a research report on Monday, August 7th. Standpoint Research downgraded Gogo from a “buy” rating to a “hold” rating in a research report on Friday, August 4th. ValuEngine downgraded Gogo from a “hold” rating to a “sell” rating in a research report on Monday, October 2nd. Finally, Guggenheim reissued a “buy” rating and set a $16.00 price target on shares of Gogo in a research report on Monday, October 9th. Three equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $14.35.
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Gogo (NASDAQ:GOGO) last announced its earnings results on Monday, August 7th. The technology company reported ($0.56) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.49) by ($0.07). The business had revenue of $172.80 million for the quarter, compared to the consensus estimate of $167.63 million. During the same quarter in the prior year, the business posted ($0.31) earnings per share. The firm’s revenue for the quarter was up 17.2% on a year-over-year basis.
Gogo Company Profile
Gogo Inc is a holding company. The Company is a provider of in-flight broadband connectivity and connectivity-enabled services to commercial and business aviation. 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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