BNP Paribas Arbitrage SA lifted its position in shares of Gogo Inc. (NASDAQ:GOGO – Get Rating) by 281.2% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 181,741 shares of the technology company's stock after buying an additional 134,064 shares during the quarter. BNP Paribas Arbitrage SA owned about 0.14% of Gogo worth $2,942,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of GOGO. Envestnet Asset Management Inc. bought a new position in shares of Gogo in the first quarter worth $308,000. Commonwealth Equity Services LLC increased its position in shares of Gogo by 3.2% in the first quarter. Commonwealth Equity Services LLC now owns 172,181 shares of the technology company's stock worth $3,281,000 after purchasing an additional 5,301 shares during the period. Victory Capital Management Inc. bought a new position in shares of Gogo in the first quarter worth $258,000. Advisor Group Holdings Inc. increased its position in shares of Gogo by 824.4% in the first quarter. Advisor Group Holdings Inc. now owns 33,102 shares of the technology company's stock worth $632,000 after purchasing an additional 29,521 shares during the period. Finally, Teacher Retirement System of Texas bought a new position in shares of Gogo in the first quarter worth $194,000. Institutional investors and hedge funds own 88.14% of the company's stock.
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Analysts Set New Price Targets
A number of research analysts recently commented on the company. Morgan Stanley upgraded Gogo from an "underweight" rating to an "equal weight" rating and raised their price target for the stock from $14.00 to $15.00 in a research report on Tuesday, November 1st. Cowen raised their price target on Gogo to $26.00 in a research report on Monday, August 15th. Finally, StockNews.com upgraded Gogo from a "sell" rating to a "hold" rating in a research report on Friday, November 25th.
Gogo Stock Up 0.5 %
Gogo stock opened at $15.77 on Friday. Gogo Inc. has a 12-month low of $11.57 and a 12-month high of $23.69. The business's 50-day moving average price is $13.89 and its two-hundred day moving average price is $15.61. The stock has a market cap of $2.01 billion, a PE ratio of 7.51 and a beta of 1.25.
About Gogo
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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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