Amundi Increases Stock Holdings in Gogo Inc. (NASDAQ:GOGO)

Amundi lifted its position in Gogo Inc. (NASDAQ:GOGO) by 142.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 26,387 shares of the technology company’s stock after purchasing an additional 15,525 shares during the quarter. Amundi’s holdings in Gogo were worth $200,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. FMR LLC grew its holdings in shares of Gogo by 13.5% in the third quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock valued at $40,589,000 after purchasing an additional 673,315 shares during the period. State Street Corp grew its holdings in shares of Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock valued at $17,675,000 after purchasing an additional 51,681 shares during the period. LB Partners LLC grew its holdings in shares of Gogo by 8.6% in the fourth quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock valued at $17,969,000 after purchasing an additional 176,092 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Gogo by 0.6% in the third quarter. Charles Schwab Investment Management Inc. now owns 557,732 shares of the technology company’s stock valued at $4,005,000 after purchasing an additional 3,181 shares during the period. Finally, Weiss Asset Management LP purchased a new stake in shares of Gogo in the third quarter valued at about $3,031,000. Hedge funds and other institutional investors own 69.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on GOGO. Roth Mkm decreased their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating on the stock in a research report on Monday, March 17th. StockNews.com cut shares of Gogo from a “hold” rating to a “sell” rating in a research report on Monday, March 17th.

Insider Transactions at Gogo

In other Gogo news, Director Oakleigh Thorne purchased 30,173 shares of Gogo stock in a transaction dated Monday, March 17th. The shares were acquired at an average price of $6.57 per share, with a total value of $198,236.61. Following the completion of the transaction, the director now owns 711,341 shares of the company’s stock, valued at $4,673,510.37. This trade represents a 4.43 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 26.00% of the company’s stock.

Gogo Trading Down 3.9 %

NASDAQ GOGO opened at $7.42 on Friday. The firm’s 50-day moving average is $7.75 and its two-hundred day moving average is $7.56. Gogo Inc. has a 12 month low of $6.17 and a 12 month high of $11.00. The company has a debt-to-equity ratio of 11.07, a current ratio of 3.58 and a quick ratio of 2.81. The stock has a market capitalization of $933.28 million, a P/E ratio of 17.26 and a beta of 1.01.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.04 by $0.03. The business had revenue of $137.80 million for the quarter, compared to analysts’ expectations of $97.80 million. Gogo had a net margin of 13.94% and a return on equity of 121.96%. The business’s quarterly revenue was up 40.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.11 earnings per share. On average, sell-side analysts anticipate that Gogo Inc. will post 0.41 earnings per share for the current year.

Gogo Profile

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.