American Century Companies Inc. Boosts Stake in Gogo Inc. (NASDAQ:GOGO)

American Century Companies Inc. boosted its holdings in Gogo Inc. (NASDAQ:GOGO) by 15.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 85,603 shares of the technology company’s stock after acquiring an additional 11,198 shares during the quarter. American Century Companies Inc.’s holdings in Gogo were worth $824,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GOGO. Burgundy Asset Management Ltd. boosted its position in shares of Gogo by 27.7% in the 1st quarter. Burgundy Asset Management Ltd. now owns 3,064,421 shares of the technology company’s stock worth $26,906,000 after buying an additional 664,803 shares in the last quarter. LB Partners LLC grew its stake in shares of Gogo by 31.0% during the first quarter. LB Partners LLC now owns 1,895,606 shares of the technology company’s stock valued at $16,643,000 after acquiring an additional 448,918 shares in the last quarter. Capstone Investment Advisors LLC acquired a new stake in shares of Gogo during the first quarter worth approximately $736,000. Los Angeles Capital Management LLC acquired a new position in Gogo in the second quarter worth about $757,000. Finally, GSA Capital Partners LLP boosted its holdings in Gogo by 102.0% in the first quarter. GSA Capital Partners LLP now owns 120,910 shares of the technology company’s stock worth $1,062,000 after purchasing an additional 61,060 shares during the period. Institutional investors and hedge funds own 69.60% of the company’s stock.

Gogo Price Performance

Shares of GOGO stock opened at $6.81 on Wednesday. The company has a debt-to-equity ratio of 11.25, a current ratio of 3.95 and a quick ratio of 3.16. The stock’s fifty day simple moving average is $7.77 and its 200 day simple moving average is $8.81. Gogo Inc. has a one year low of $6.61 and a one year high of $12.01. The firm has a market cap of $865.59 million, a price-to-earnings ratio of 6.14 and a beta of 1.11.

Gogo (NASDAQ:GOGO) last issued its quarterly earnings results on Wednesday, August 7th. The technology company reported $0.01 earnings per share (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 company had revenue of $102.10 million for the quarter, compared to analyst estimates of $99.02 million. During the same quarter last year, the company earned $0.20 EPS. The firm’s quarterly revenue was down 1.1% on a year-over-year basis. On average, analysts expect that Gogo Inc. will post 0.35 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.