UBS Group AG Has $2.33 Million Position in Gogo Inc. $GOGO

UBS Group AG increased its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 32.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 500,807 shares of the technology company’s stock after acquiring an additional 122,706 shares during the period. UBS Group AG’s holdings in Gogo were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its position in shares of Gogo by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 25,934 shares of the technology company’s stock valued at $381,000 after acquiring an additional 1,597 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Gogo by 6.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 39,205 shares of the technology company’s stock valued at $338,000 after acquiring an additional 2,342 shares in the last quarter. Arizona State Retirement System boosted its position in Gogo by 12.3% in the third quarter. Arizona State Retirement System now owns 21,489 shares of the technology company’s stock valued at $185,000 after buying an additional 2,357 shares in the last quarter. Quarry LP boosted its position in Gogo by 86.1% in the third 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 in the last quarter. Finally, State of Wyoming acquired a new position in Gogo in the third quarter valued at about $32,000. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Gogo

In related news, Director Charles C. Townsend bought 158,591 shares of the company’s stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $4.57 per share, with a total value of $724,760.87. Following the completion of the purchase, the director owned 418,686 shares in the company, valued at approximately $1,913,395.02. The trade was a 60.97% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Corporate insiders own 25.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on GOGO shares. Weiss Ratings upgraded shares of Gogo from a “sell (d)” rating to a “sell (d+)” rating in a research report on Tuesday, May 12th. Roth Mkm set a $12.00 price target on shares of Gogo in a research report on Thursday, May 7th. Finally, Morgan Stanley reduced their price target on shares of Gogo from $8.00 to $7.00 and set an “equal weight” rating on the stock in a research report on Thursday, May 21st. One investment analyst has rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $9.50.

Gogo Price Performance

NASDAQ:GOGO opened at $4.70 on Thursday. The firm has a market cap of $635.63 million, a PE ratio of 42.73 and a beta of 1.06. Gogo Inc. has a 12 month low of $3.81 and a 12 month high of $16.82. The company has a quick ratio of 1.27, a current ratio of 1.66 and a debt-to-equity ratio of 6.89. The company’s 50-day moving average price is $4.32 and its two-hundred day moving average price is $4.91.

Gogo (NASDAQ:GOGO) last released its quarterly earnings results on Friday, February 27th. The technology company reported ($0.07) EPS for the quarter, missing analysts’ consensus estimates of $0.02 by ($0.09). Gogo had a net margin of 1.54% and a return on equity of 37.53%. The firm had revenue of $230.56 million during the quarter, compared to analyst estimates of $222.65 million. During the same quarter last year, the firm earned ($0.22) earnings per share. Gogo’s quarterly revenue was up 67.3% on a year-over-year basis. On average, equities analysts anticipate that Gogo Inc. will post 0.28 EPS for the current fiscal year.

Gogo 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.