AlphaQuest LLC Lowers Position in Gogo Inc. (NASDAQ:GOGO)

AlphaQuest LLC cut its stake in Gogo Inc. (NASDAQ:GOGO) by 9.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,817 shares of the technology company’s stock after selling 2,131 shares during the period. AlphaQuest LLC’s holdings in Gogo were worth $160,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. FMR LLC lifted its holdings in Gogo by 13.5% in the third quarter. FMR LLC now owns 5,653,036 shares of the technology company’s stock worth $40,589,000 after buying an additional 673,315 shares during the period. State Street Corp lifted its holdings in Gogo by 2.1% in the third quarter. State Street Corp now owns 2,461,691 shares of the technology company’s stock worth $17,675,000 after buying an additional 51,681 shares during the period. LB Partners LLC lifted its holdings in Gogo by 8.6% in the fourth quarter. LB Partners LLC now owns 2,221,092 shares of the technology company’s stock worth $17,969,000 after buying an additional 176,092 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in 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 buying an additional 3,181 shares during the period. Finally, Weiss Asset Management LP bought a new position in shares of Gogo during the third quarter valued at approximately $3,031,000. 69.60% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GOGO has been the subject of a number of analyst reports. Roth Mkm decreased their target price on shares of Gogo from $15.50 to $13.00 and set a “buy” rating for the company in a research note on Monday. StockNews.com downgraded shares of Gogo from a “hold” rating to a “sell” rating in a research note on Monday.

Gogo Price Performance

Shares of NASDAQ GOGO opened at $6.47 on Tuesday. Gogo Inc. has a fifty-two week low of $6.17 and a fifty-two week high of $11.00. The company has a 50 day simple moving average of $7.75 and a two-hundred day simple moving average of $7.56. The company has a market capitalization of $813.79 million, a price-to-earnings ratio of 15.05 and a beta of 1.01. The company has a debt-to-equity ratio of 11.07, a quick ratio of 2.81 and a current ratio of 3.58.

Gogo (NASDAQ:GOGO) last announced its quarterly earnings data on Friday, March 14th. The technology company reported $0.07 earnings per share for the quarter, topping analysts’ consensus estimates of $0.04 by $0.03. Gogo had a net margin of 13.94% and a return on equity of 121.96%. 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 previous year, the business earned $0.11 EPS. The firm’s revenue for the quarter was up 40.9% on a year-over-year basis. Analysts expect that Gogo Inc. will post 0.41 EPS for the current fiscal 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.