Tudor Investment Corp ET AL Has $6.06 Million Stock Position in Gogo Inc. $GOGO

Tudor Investment Corp ET AL raised its holdings in Gogo Inc. (NASDAQ:GOGO) by 1,095.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 705,968 shares of the technology company’s stock after buying an additional 646,894 shares during the quarter. Tudor Investment Corp ET AL’s holdings in Gogo were worth $6,064,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GOGO. Fortitude Family Office LLC acquired a new stake in Gogo in the 3rd quarter valued at approximately $30,000. State of Wyoming acquired a new stake in Gogo in the 3rd quarter valued at approximately $32,000. Quarry LP grew its holdings in Gogo by 86.1% in the 3rd quarter. Quarry LP now owns 7,171 shares of the technology company’s stock valued at $62,000 after buying an additional 3,318 shares during the last quarter. Focus Partners Wealth acquired a new stake in Gogo in the 3rd quarter valued at approximately $72,000. Finally, Versor Investments LP acquired a new stake in Gogo in the 3rd quarter valued at approximately $86,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Price Performance

Gogo stock opened at $4.20 on Wednesday. The company has a debt-to-equity ratio of 8.24, a current ratio of 1.60 and a quick ratio of 1.24. The company has a market capitalization of $565.66 million, a PE ratio of 42.00 and a beta of 1.12. Gogo Inc. has a one year low of $3.85 and a one year high of $16.82. The business has a 50 day simple moving average of $4.39 and a 200 day simple moving average of $6.02.

Gogo (NASDAQ:GOGO) last posted its earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing the consensus estimate of $0.02 by ($0.09). The company had revenue of $230.56 million for the quarter, compared to the consensus estimate of $222.65 million. Gogo had a return on equity of 55.95% and a net margin of 1.42%.Gogo’s quarterly revenue was up 67.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.22) EPS. On average, sell-side analysts forecast that Gogo Inc. will post 0.41 EPS for the current fiscal year.

Insider Activity at Gogo

In other Gogo news, Director Charles C. Townsend acquired 158,591 shares of the business’s stock in a transaction on Thursday, March 12th. The stock was purchased at an average price of $4.57 per share, for a total transaction of $724,760.87. Following the transaction, the director owned 418,686 shares in the company, valued at $1,913,395.02. This trade represents a 60.97% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 25.78% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings reiterated a “sell (d)” rating on shares of Gogo in a research report on Friday, March 27th. William Blair downgraded Gogo from an “outperform” rating to a “market perform” rating in a research report on Tuesday, December 9th. Finally, Morgan Stanley set a $8.00 price objective on Gogo in a research report on Friday, January 16th. One research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Gogo currently has a consensus rating of “Hold” and a consensus target price of $12.25.

Gogo Company Profile

Gogo Inc is a leading provider of in-flight connectivity and entertainment solutions for commercial and business aviation. The company specializes in delivering broadband internet, voice and text services, and streaming entertainment to passengers at 35,000 feet. Gogo’s offerings include both air-to-ground (ATG) networks and satellite-based connectivity, enabling reliable in-flight internet access across a range of aircraft types.

Gogo’s ATG network spans the United States and portions of Canada, using ground towers to transmit data signals directly to equipped aircraft.