Gogo Inc. (NASDAQ:GOGO) Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its stake in Gogo Inc. (NASDAQ:GOGOFree Report) by 48.4% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 26,089 shares of the technology company’s stock after selling 24,520 shares during the quarter. Citigroup Inc.’s holdings in Gogo were worth $311,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GOGO. Envestnet Asset Management Inc. purchased a new stake in Gogo in the 1st quarter worth about $308,000. Bank of New York Mellon Corp raised its stake in shares of Gogo by 0.5% during the 1st quarter. Bank of New York Mellon Corp now owns 230,953 shares of the technology company’s stock worth $4,403,000 after purchasing an additional 1,189 shares in the last quarter. MetLife Investment Management LLC lifted its holdings in shares of Gogo by 115.7% during the 1st quarter. MetLife Investment Management LLC now owns 31,583 shares of the technology company’s stock valued at $602,000 after buying an additional 16,943 shares during the last quarter. Great West Life Assurance Co. Can lifted its holdings in shares of Gogo by 41.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company’s stock valued at $44,000 after buying an additional 633 shares during the last quarter. Finally, Blair William & Co. IL grew its stake in shares of Gogo by 9.3% in the 1st quarter. Blair William & Co. IL now owns 442,255 shares of the technology company’s stock valued at $8,429,000 after buying an additional 37,606 shares in the last quarter. Hedge funds and other institutional investors own 66.88% of the company’s stock.

Gogo Trading Down 1.4 %

NASDAQ:GOGO opened at $8.33 on Wednesday. The company’s 50 day moving average is $8.98 and its 200-day moving average is $10.07. The company has a quick ratio of 3.49, a current ratio of 4.37 and a debt-to-equity ratio of 14.43. Gogo Inc. has a 12 month low of $7.76 and a 12 month high of $17.94. The firm has a market cap of $1.07 billion, a price-to-earnings ratio of 7.64 and a beta of 1.07.

Gogo (NASDAQ:GOGOGet Free Report) last announced its earnings results on Wednesday, February 28th. The technology company reported $0.11 EPS for the quarter, hitting the consensus estimate of $0.11. Gogo had a net margin of 36.64% and a negative return on equity of 7,172.73%. The firm had revenue of $97.81 million for the quarter, compared to the consensus estimate of $96.56 million. During the same quarter last year, the firm posted $0.21 EPS. The business’s quarterly revenue was down 9.6% on a year-over-year basis. Equities analysts anticipate that Gogo Inc. will post 0.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GOGO. Roth Mkm reduced their target price on shares of Gogo from $18.75 to $17.50 and set a “buy” rating for the company in a research note on Tuesday, December 12th. JPMorgan Chase & Co. assumed coverage on shares of Gogo in a report on Thursday, February 29th. They set a “neutral” rating and a $11.00 price target on the stock. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $16.13.

Check Out Our Latest Stock Report on GOGO

Insider Buying and Selling

In other Gogo news, Director Charles C. Townsend bought 28,857 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average price of $9.03 per share, with a total value of $260,578.71. Following the acquisition, the director now directly owns 1,740,588 shares of the company’s stock, valued at approximately $15,717,509.64. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, Director Harris N. Williams acquired 12,000 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were bought at an average price of $8.10 per share, for a total transaction of $97,200.00. Following the acquisition, the director now owns 20,990 shares in the company, valued at approximately $170,019. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Charles C. Townsend bought 28,857 shares of Gogo stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $9.03 per share, with a total value of $260,578.71. Following the purchase, the director now owns 1,740,588 shares of the company’s stock, valued at approximately $15,717,509.64. The disclosure for this purchase can be found here. 26.00% of the stock is owned by insiders.

About Gogo

(Free Report)

Gogo Inc, together with its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. The company's product platform includes networks, antennas, and airborne equipment and software. It offers in-flight systems; in-flight services; aviation partner support; and engineering, design, and development services, as well as production operations functions.

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Institutional Ownership by Quarter for Gogo (NASDAQ:GOGO)

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