Louisiana State Employees Retirement System Has $207,000 Stock Holdings in Gogo Inc. (NASDAQ:GOGO)

Louisiana State Employees Retirement System cut its position in Gogo Inc. (NASDAQ:GOGO) by 6.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 28,800 shares of the technology company’s stock after selling 1,900 shares during the period. Louisiana State Employees Retirement System’s holdings in Gogo were worth $207,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Gogo by 0.8% in the first quarter. Vanguard Group Inc. now owns 5,748,287 shares of the technology company’s stock worth $50,470,000 after purchasing an additional 44,340 shares during the period. Burgundy Asset Management Ltd. raised its holdings in Gogo by 1.4% in the second quarter. Burgundy Asset Management Ltd. now owns 3,108,226 shares of the technology company’s stock worth $29,901,000 after purchasing an additional 43,805 shares during the period. Capco Asset Management LLC raised its holdings in Gogo by 1.7% in the second quarter. Capco Asset Management LLC now owns 2,479,974 shares of the technology company’s stock worth $23,857,000 after purchasing an additional 41,866 shares during the period. William Blair Investment Management LLC raised its holdings in Gogo by 7.9% in the second quarter. William Blair Investment Management LLC now owns 2,073,693 shares of the technology company’s stock worth $19,949,000 after purchasing an additional 152,338 shares during the period. Finally, LB Partners LLC raised its holdings in Gogo by 12.4% in the third quarter. LB Partners LLC now owns 2,045,000 shares of the technology company’s stock worth $14,683,000 after purchasing an additional 225,000 shares during the period. 69.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Morgan Stanley lowered their price objective on shares of Gogo from $12.00 to $11.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lowered their price objective 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. Finally, Roth Mkm reissued a “buy” rating and set a $15.50 price objective on shares of Gogo in a research report on Tuesday, September 17th.

Gogo Stock Down 6.0 %

Shares of GOGO stock opened at $8.02 on Thursday. The firm has a fifty day moving average of $7.11 and a 200-day moving average of $8.51. The company has a quick ratio of 3.16, a current ratio of 3.95 and a debt-to-equity ratio of 11.25. Gogo Inc. has a 12-month low of $6.17 and a 12-month high of $11.17. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 15.73 and a beta of 1.10.

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