Intech Investment Management LLC Sells 49,065 Shares of Gogo Inc. (NASDAQ:GOGO)

Intech Investment Management LLC lowered its stake in Gogo Inc. (NASDAQ:GOGO) by 47.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,956 shares of the technology company’s stock after selling 49,065 shares during the quarter. Intech Investment Management LLC’s holdings in Gogo were worth $437,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in GOGO. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Gogo by 0.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 208,356 shares of the technology company’s stock worth $1,496,000 after acquiring an additional 1,714 shares during the period. Charles Schwab Investment Management Inc. increased its stake 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 worth $4,005,000 after purchasing an additional 3,181 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Gogo by 1.9% during the 4th quarter. Principal Financial Group Inc. now owns 287,890 shares of the technology company’s stock valued at $2,329,000 after purchasing an additional 5,420 shares during the period. Brighton Jones LLC lifted its stake in shares of Gogo by 69.6% during the 4th quarter. Brighton Jones LLC now owns 17,000 shares of the technology company’s stock valued at $138,000 after buying an additional 6,978 shares in the last quarter. Finally, SG Americas Securities LLC boosted its holdings in Gogo by 25.4% in the 4th quarter. SG Americas Securities LLC now owns 35,333 shares of the technology company’s stock worth $286,000 after buying an additional 7,156 shares during the period. 69.60% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GOGO has been the topic of several research analyst reports. Roth Mkm lowered their price objective on 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 Gogo from a “hold” rating to a “sell” rating in a report on Monday, March 17th.

Insider Activity at Gogo

In other Gogo news, Director Oakleigh Thorne acquired 30,173 shares of the stock in a transaction on Monday, March 17th. The stock was acquired at an average price of $6.57 per share, for a total transaction of $198,236.61. Following the completion of the transaction, the director now directly 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 purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 26.00% of the stock is currently owned by insiders.

Gogo Stock Up 10.8 %

Shares of GOGO stock opened at $8.22 on Tuesday. The company’s fifty day simple moving average is $7.77 and its two-hundred day simple moving average is $7.55. Gogo Inc. has a 52 week low of $6.17 and a 52 week high of $11.00. The stock has a market cap of $1.08 billion, a P/E ratio of 19.12 and a beta of 1.01. The company has a quick ratio of 2.81, a current ratio of 3.58 and a debt-to-equity ratio of 11.07.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings results on Friday, March 14th. The technology company reported $0.07 EPS for the quarter, beating analysts’ consensus estimates of $0.04 by $0.03. Gogo had a return on equity of 121.96% and a net margin of 13.94%. The company had revenue of $137.80 million during the quarter, compared to analyst estimates of $97.80 million. During the same period in the prior year, the company earned $0.11 earnings per share. The firm’s revenue was up 40.9% on a year-over-year basis. Analysts predict that Gogo Inc. will post 0.41 EPS for the current fiscal year.

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.