Rhumbline Advisers Has $1.85 Million Stock Position in Gogo Inc. (NASDAQ:GOGO)

Rhumbline Advisers reduced its position in Gogo Inc. (NASDAQ:GOGO) by 6.5% in the 2nd quarter, HoldingsChannel reports. The firm owned 192,433 shares of the technology company’s stock after selling 13,332 shares during the period. Rhumbline Advisers’ holdings in Gogo were worth $1,851,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GOGO. Burgundy Asset Management Ltd. lifted its stake in Gogo by 27.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company’s stock valued at $26,906,000 after purchasing an additional 664,803 shares during the last quarter. LB Partners LLC lifted its stake in Gogo by 31.0% in the 1st quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock valued at $16,643,000 after purchasing an additional 448,918 shares during the last quarter. Capstone Investment Advisors LLC acquired a new stake in Gogo in the 1st quarter valued at about $736,000. GSA Capital Partners LLP lifted its stake in Gogo by 102.0% in the 1st quarter. GSA Capital Partners LLP now owns 120,910 shares of the technology company’s stock valued at $1,062,000 after purchasing an additional 61,060 shares during the last quarter. Finally, Tealwood Asset Management Inc. lifted its stake in Gogo by 95.6% in the 1st quarter. Tealwood Asset Management Inc. now owns 122,246 shares of the technology company’s stock valued at $1,073,000 after purchasing an additional 59,750 shares during the last quarter. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have weighed in on GOGO. Morgan Stanley lowered their price target on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 3rd. Roth Mkm reissued a “buy” rating and issued a $15.50 price target on shares of Gogo in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on shares of Gogo from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, August 8th.

Gogo Stock Up 0.1 %

Shares of GOGO opened at $6.89 on Friday. Gogo Inc. has a 12 month low of $6.72 and a 12 month high of $12.61. The firm’s 50 day moving average is $8.06 and its 200-day moving average is $8.89. The stock has a market capitalization of $875.75 million, a PE ratio of 5.89 and a beta of 1.11. The company has a current ratio of 3.95, a quick ratio of 3.16 and a debt-to-equity ratio of 11.25.

Gogo (NASDAQ:GOGO) last announced its earnings results on Wednesday, August 7th. The technology company reported $0.01 EPS for the quarter, missing the consensus estimate of $0.07 by ($0.06). Gogo had a return on equity of 145.01% and a net margin of 16.59%. The business had revenue of $102.10 million for the quarter, compared to the consensus estimate of $99.02 million. During the same period in the prior year, the business posted $0.20 earnings per share. The firm’s revenue for the quarter was down 1.1% compared to the same quarter last year. Equities research analysts forecast that Gogo Inc. will post 0.35 EPS for the current year.

Gogo Company 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.