Gogo Inc. (NASDAQ:GOGO) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp boosted its holdings in shares of Gogo Inc. (NASDAQ:GOGO) by 44.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 43,439 shares of the technology company’s stock after buying an additional 13,283 shares during the quarter. Van ECK Associates Corp’s holdings in Gogo were worth $311,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in GOGO. nVerses Capital LLC acquired a new position in shares of Gogo during the third quarter valued at about $34,000. Brighton Jones LLC purchased a new stake in Gogo during the 3rd quarter worth approximately $72,000. Point72 Asia Singapore Pte. Ltd. acquired a new position in Gogo during the 2nd quarter valued at approximately $107,000. AQR Capital Management LLC purchased a new position in shares of Gogo in the second quarter worth $108,000. Finally, SG Americas Securities LLC acquired a new stake in shares of Gogo during the second quarter worth $109,000. Institutional investors and hedge funds own 69.60% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the company. Morgan Stanley reduced their target price on Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price objective on Gogo from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, August 8th. Finally, Roth Mkm reiterated a “buy” rating and issued a $15.50 target price on shares of Gogo in a research report on Tuesday, September 17th.

Gogo Price Performance

NASDAQ:GOGO opened at $8.07 on Wednesday. The firm’s fifty day moving average is $7.12 and its two-hundred day moving average is $8.50. The firm has a market cap of $1.02 billion, a price-to-earnings ratio of 18.47 and a beta of 1.10. The company has a debt-to-equity ratio of 11.07, a quick ratio of 3.16 and a current ratio of 3.58. Gogo Inc. has a one year low of $6.17 and a one year high of $11.17.

About Gogo

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.