Mutual of America Capital Management LLC bought a new stake in Gogo Inc. (NASDAQ:GOGO – Get Rating) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,475 shares of the technology company's stock, valued at approximately $186,000.
Several other hedge funds and other institutional investors have also made changes to their positions in GOGO. Great West Life Assurance Co. Can increased its stake in Gogo by 41.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company's stock worth $44,000 after buying an additional 633 shares during the period. KBC Group NV purchased a new position in Gogo in the 2nd quarter worth about $97,000. Amalgamated Bank purchased a new position in Gogo in the 1st quarter worth about $139,000. Point72 Hong Kong Ltd increased its stake in Gogo by 369.7% in the 1st quarter. Point72 Hong Kong Ltd now owns 8,017 shares of the technology company's stock worth $153,000 after buying an additional 6,310 shares during the period. Finally, Teacher Retirement System of Texas purchased a new position in Gogo in the 1st quarter worth about $194,000. Hedge funds and other institutional investors own 88.14% of the company's stock.
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Wall Street Analyst Weigh In
GOGO has been the topic of several recent analyst reports. StockNews.com raised shares of Gogo from a "sell" rating to a "hold" rating in a research note on Friday, November 25th. Cowen increased their target price on shares of Gogo to $26.00 in a report on Monday, August 15th. Finally, Morgan Stanley upgraded shares of Gogo from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $14.00 to $15.00 in a report on Tuesday, November 1st.
Gogo Price Performance
Shares of Gogo stock opened at $15.31 on Wednesday. Gogo Inc. has a 1 year low of $11.57 and a 1 year high of $23.69. The stock has a market cap of $1.95 billion, a price-to-earnings ratio of 7.29 and a beta of 1.25. The firm's 50-day moving average is $13.76 and its two-hundred day moving average is $15.61.
Gogo Profile
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Gogo Inc, through its subsidiaries, provides broadband connectivity services to the aviation industry in the United States and internationally. It operates through Commercial Aviation North America (CA-NA), Commercial Aviation Rest of World (CA-ROW), and Business Aviation (BA) segments. The company design, build and operate air-to-ground networks, engineer and maintain in-flight systems of proprietary hardware and software, and deliver customizable connectivity and wireless entertainment services.
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