Public Sector Pension Investment Board purchased a new stake in shares of Gogo Inc. (NASDAQ:GOGO – Get Rating) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 126,473 shares of the technology company's stock, valued at approximately $2,048,000. Public Sector Pension Investment Board owned about 0.10% of Gogo at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Great West Life Assurance Co. Can lifted its position in shares of Gogo by 41.0% during the 1st quarter. Great West Life Assurance Co. Can now owns 2,178 shares of the technology company's stock valued at $44,000 after buying an additional 633 shares during the last quarter. KBC Group NV purchased a new stake in Gogo during the 2nd quarter worth about $97,000. Amalgamated Bank purchased a new stake in Gogo during the 1st quarter worth about $139,000. Point72 Hong Kong Ltd lifted its holdings in Gogo by 369.7% during the 1st quarter. Point72 Hong Kong Ltd now owns 8,017 shares of the technology company's stock worth $153,000 after purchasing an additional 6,310 shares in the last quarter. Finally, Mutual of America Capital Management LLC purchased a new stake in Gogo during the 2nd quarter worth about $186,000. Hedge funds and other institutional investors own 88.14% of the company's stock.
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Gogo Trading Up 2.5 %
Shares of Gogo stock opened at $15.69 on Thursday. The business's 50-day moving average price is $13.82 and its 200-day moving average price is $15.61. Gogo Inc. has a 12 month low of $11.57 and a 12 month high of $23.69. The firm has a market capitalization of $2.00 billion, a PE ratio of 7.47 and a beta of 1.25.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the company. Morgan Stanley raised Gogo from an "underweight" rating to an "equal weight" rating and increased their price objective for the stock from $14.00 to $15.00 in a report on Tuesday, November 1st. StockNews.com raised Gogo from a "sell" rating to a "hold" rating in a report on Friday, November 25th. Finally, Cowen raised their price target on Gogo to $26.00 in a report on Monday, August 15th.
Gogo Company 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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